Sandra McGann Sandra McGann

October Could Be the Negotiation Window West Valley Buyers Have Been Waiting For

The best deal this October may not be the home with the lowest price. It may be the one with the most room to negotiate.

“The best deal this October may not be the home with the lowest price. It may be the one with the most room to negotiate.”

If you've been thinking about buying a home in the West Valley but have been waiting for prices or mortgage rates to make the decision easier, October may be worth looking at differently.

The opportunity right now isn't necessarily about finding dramatically lower home prices. It's about having something buyers haven't always had in recent years: room to negotiate.

Across the Phoenix metro, homes are taking longer to find the right buyer, inventory has increased, and more sellers are adjusting their expectations. In September, 29% of listings in the Phoenix-Mesa-Chandler metro had experienced a price reduction, while active inventory was up 3.6% from a year earlier.

Here in the West Valley, we're seeing similar signs of a more balanced market. In September, Goodyear had more than 1,000 active listings and a median of 68 days on market. Buckeye's median was 64 days.

That doesn't mean every seller is willing to accept a low offer. It does mean buyers have more opportunities to ask a very important question:

What else can we negotiate?

Look Beyond the List Price

When buyers hear "negotiation," they usually think about offering less than the asking price.
That's certainly one possibility, but it isn't the only one.

Depending on the home, the seller, your financing and the terms of the transaction, negotiations may also include seller contributions toward closing costs, repairs, a home warranty or even help with an interest-rate buydown.

Sometimes getting $10,000 off the purchase price is valuable. In another situation, using that negotiating room toward closing costs or reducing the buyer's mortgage rate could make a bigger difference to their immediate budget or monthly payment.

That's why I don't like looking at the listing price in isolation.
The best deal isn't always the home with the lowest price. Sometimes, it's the home where we can negotiate the best overall terms.

Sellers Are Adjusting, But Prices Haven't Collapsed

There's an important distinction here.

This isn't a story about West Valley home values suddenly falling apart.

ARMLS reported a $445,000 median sales price for August, which was still 1.14% higher than a year earlier. At the same time, the median list price had moved from $480,000 six months earlier to $462,740.

In other words, asking prices are adjusting faster than actual sale prices.

That's important for buyers because it shows why waiting for a dramatic headline about falling home prices isn't necessarily the only strategy.

There may already be opportunities inside today's market.

A home that's been sitting for several weeks, a property that's already had a price adjustment or a seller whose plans require them to move may create a completely different negotiation than a newly listed home receiving immediate attention.

The opportunity is property-specific.

There's Another Competitor Sellers Can't Ignore: New Construction

The West Valley also has something that makes our market particularly interesting: new construction.

Buyers shopping in communities throughout Buckeye, Goodyear, Surprise and the surrounding West Valley aren't necessarily choosing between two resale homes. They may also be comparing those homes with brand-new construction.

And builders are working hard for those buyers.

Nationally, 66% of builders reported using sales incentives in September, including strategies such as mortgage-rate buydowns and closing-cost assistance. Another 38% reported reducing home prices.

That matters even if you're buying or selling a resale home.

For buyers, builder incentives become another option worth comparing. A new home's advertised purchase price may be higher, but an incentive could change the monthly-payment calculation.

On the other hand, a resale property may have advantages the new build doesn't, such as an established neighborhood, completed landscaping, window coverings, appliances, a pool, upgrades or simply a location you prefer.

The goal isn't to assume one is automatically the better deal.

It's to compare the whole deal.

And If You're Selling This Fall...

This market doesn't mean sellers need to panic or give buyers everything they ask for.

It does mean strategy matters.

Today's buyer has more choices, and your competition may include homes that have already reduced their price and builders advertising incentives. Pricing too high with the expectation that you can "test the market" and reduce later can make it harder to capture attention during those important first weeks.

Instead, we need to understand what buyers are comparing your home against, how similar properties are actually selling and what would make your home stand out.

Sometimes the answer is price.
Sometimes it's condition, presentation, or marketing.
And sometimes a strategically structured concession can be more compelling to a buyer than another price reduction.

Don't Wait for a Perfect Market

There will probably never be a headline announcing that this is officially the perfect week to buy a house.

Mortgage rates can move. Inventory changes. Prices vary tremendously from one West Valley neighborhood, and sometimes one street, to another.

What we can do is look at the opportunities that exist right now.

For some buyers, October's combination of more choices, price adjustments and longer market times may create negotiating opportunities that weren't available when competition was stronger.

For sellers, it creates an equally important opportunity to position your home correctly before buyers move on to the next option.

Whether you're buying your first home, relocating to Arizona, searching for your next luxury property, or considering selling your West Valley home, having the right strategy can make all the difference.

If you've been wondering whether now is the right time to make a move, I'd be happy to help you understand your options, answer your questions, and create a plan that's tailored to your goals. Sometimes, the greatest advantage isn't waiting for the perfect market.

It's knowing how to navigate the one you're in.

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