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What’s the best time of year to buy in the Boston area?
A recent study by LendingTree says those who purchase a home in January could save an average of $23,000. But it's not as simple as just timing.
If you’re in the market for a new home, you probably want to time your purchase to achieve the best price possible, and a recent study by LendingTree may provide some guidance.
The study, based on an analysis of median sales prices in 2024, found that those who purchase a home in January could save an average of $23,000 compared to those who purchase a similar (1,500-square-foot) home in May.
“The middle of winter may not seem like the ideal time to shop for a home, but in a crazy-expensive market like Boston, you’d be foolish not to at least consider it,” said Matt Schulz, LendingTree’s chief consumer finance analyst. “The potential savings are simply too big to ignore, especially for first-time home buyers.”
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Those numbers seem to bear out in Greater Boston, where, according to the Greater Boston Association of Realtors, the median single-family home sales price in January 2024 was $820,000, while the median in May 2024 was $950,500.
However, the data from LendingTree is subject to a caveat. First, the conclusion that pricing was lower in January 2024 is based on the sales dates of the homes analyzed, but those prices were actually locked in a month or two earlier when the purchase agreements were signed. “Houses typically go under contract 30 to 60 days prior to closing,” said Debby Belt, a senior associate at Hammond Residential Real Estate in Chestnut Hill. “So, houses that go under contract in November and December are likely closing in January or February. Many buyers get a mortgage, and most mortgages take at least 30 to 60 days.”
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LendingTree’s Schulz agrees. “While our report shows the lowest home prices are found in January, those are for purchases that closed that month,” he said. “That means that the people who got the best prices were really those who were looking for homes in the last few months of the year.”
But is seasonality a big factor in the Greater Boston housing market?
“I do tend to agree that January is often one of the more affordable months for buyers, and a big reason for that is seasonality,” said Morgan Franklin, an agent with Coldwell Banker Realty in Boston. “Inventory is typically lower because many sellers prefer to wait until closer to spring to list their homes. As a result, the sellers who do list in January are often more motivated, which can create better opportunities for buyers.”
Meanwhile Annie Bauman, a real estate agent with Gibson Sotheby’s International Realty in Needham, said, “The seasons are much less pronounced than they used to be. The market inventory and activity used to fall off by around August, but post-Covid, because we’re still in an inventory-scarce market, a buyer is really best served to not even consider specific months or seasons — they should be poised and prepared for whenever the home that matches their priorities comes up. The worst thing a buyer can do is put the brakes on simply because the leaves turn color.”
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So, what should prospective home buyers do with this information?
More Real Estate
Remain optimistic: Greater Boston has been a tough market with strong demand and limited inventory. But, according to the Federal Reserve Bank of St. Louis, inventory is increasing. In November 2025, the latest date for which statistics are currently available, there were 7,167 active listings (including both single-family homes and condominiums) on the market in the Greater Boston metro. A year earlier, in November 2024, there were 5,884. As inventory increases, there are more houses to consider and sellers have more competition, so things may become easier for motivated and qualified buyers.
Stay within your budget: Understand how much of a house you can afford before you ever go shopping — that’s the best way to avoid overpaying and becoming house poor. Compare mortgage interest rates and costs from several lenders, and get pre-approved.
Don’t try to time the market: If you need to buy a new home because of life events like a job relocation, a marriage, or a new baby, then buy. Your decision should be based more on your financial stability and ability to pay for the house, as well as your goals, rather than trying to time an unpredictable market in order to purchase at the absolute lowest price point. Remember that a house is a long-term investment — the median expected tenure in a purchased home is now 15 years, according to the 2025 Profile of Home Buyers and Sellers released in November 2025 by the National Association of Realtors — so make your decision based on your needs, your lifestyle, and your personal situation.
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