According to Scott McGillivray, host of the HGTV show “Income Property,” the best day of the week to buy is Monday.
As a rule of thumb, “Go shopping on a Monday, Tuesday or Wednesday,” he explains. “If you’re shopping for real estate on a Saturday and Sunday, you’re not getting deals.
When’s the last time you saw a real estate agent promote an open house on a Monday night? It’s on a Saturday. It’s on a Sunday.”
In fact, between a Saturday and a Monday — just two days — the market drops by nearly 1% every week, the HGTV star tells Torabi: “If you think about the average home price in America being around $350,000, you’re going to save $3,500 on average by putting offers in on a Monday versus a Saturday.”
Why is early week the ideal time frame?
Homeowners are “distracted with work and the kids’ routines,” McGillivray explains. “They’re probably not getting a lot of other offers on a Monday, Tuesday, or Wednesday, so chances are, they will very quickly and efficiently entertain your offer. A seller is much more difficult to negotiate with on a weekend than they are on a weekday.”
No promises you’ll save $3,500 by buying on a Monday, but it’s worth a try.