Homebuyers searching for price cuts on search portals are sure to get lucky if they check on this specific day of the week and check back again after 3 weeks, according to a new analysis by Zillow.

New markets require new approaches and tactics. Experts and industry leaders take the stage at Inman Connect New York in January to help navigate the market shift — and prepare for the next one. Meet the moment and join us. Register here.

Homebuyers who want to scour home listings in their area for price cuts will find the lion’s share if they check by Thursday, and their favorite overpriced home might be worth revisiting at the three-week mark.

The main wave of price cuts takes place from Monday through Thursday, and the biggest chunk are saved for the end of that window each week, Zillow’s research team said in a recent report.

At the same time, as the winter months approach, the time window in which existing sellers are likely to cut their asking price may be narrowing.

“Frenzied market speeds home shoppers may associate with the pandemic seem to be slowing down, which is more good news for buyers,” the Zillow report reads. “However, as new listings fail to enter the market at their usual pace, this year’s buyers could feel as though there are fewer fresh options to choose from each week.”

Buyers who have been keeping an eye on a particular overpriced home may want to consider reaching back out to the seller about three weeks after it’s first listed, if it hasn’t sold by then. That’s when a seller entertaining a price cut typically pulls the trigger these days, Zillow found.

The chart below, compiled by Zillow, shows how sellers and their agents have been quicker to turn to price cuts if their homes didn’t sell in the fast-paced pandemic market.

Buyers should also keep in mind, though, that the share of listings with a price cut tends to drop substantially in the winter months, if past years are any indication.

As recently as January of this year, a home would sit on the market for five weeks before the seller resorted to a price drop. In a typical year, that length of time has been closer to seven weeks during the winter months.

But as with virtually every trend since the pandemic began, the months to come may be far from typical. The housing market as a whole is in the midst of a swift cooldown as demand comes off its highs of the last few years.

Higher mortgage rates are one factor, and it’s unclear how they might affect transactions — and seller pricing behavior — in the months to come.

But for now, the buyer who finds a price drop might still be getting a substantial discount from the initial asking price. The typical price cut amounts to 3.1 percent of the asking price, or $11,000 on the typical home, Zillow’s team found.

That’s smaller than the typical price cut in 2021, but a step above what the market saw in previous years.

Email Daniel Houston

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription