10 US Cities With the Best Markets for Buyers To Get a House Below the Asking

A lack of inventory and rising home prices have made it challenging to be a homebuyer in many places across the country. But in some cities, things have taken a turn and buyers now have the advantage.

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To identify the best markets for buyers, Realtor.com analyzed numerous cities to find the areas where homes are selling for the lowest price relative to their initial listing price. In the top 10 buyers’ markets, homes have been selling for an average of 9% less than the initial listing price.

Here’s a look at the best markets for buyers who are hoping to score a home below the list price.

1. Palatka, Florida

• Median list price: $299,500

• Median days on the market: 58

• Number of listings: 251

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2. Key West, Florida

• Median list price: $1,300,000

• Median days on the market: 80

• Number of listings: 1,306

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3. Breckenridge, Colorado

• Median list price: $1,125,000

• Median days on the market: 54

• Number of listings: 427

4. Sevierville, Tennessee

• Median list price: $699,900

• Median days on the market: 58

• Number of listings: 1,388

5. Jackson, Tennessee

• Median list price: $299,900

• Median days on the market: 47

• Number of listings: 404

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6. Rome, Georgia

• Median list price: $292,575

• Median days on the market: 42

• Number of listings: 236

7. Sonora, California

• Median list price: $450,000

• Median days on the market: 41

• Number of listings: 267

8. Greeneville, Tennessee

• Median list price: $349,900

• Median days on the market: 49

• Number of listings: 130

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9. Roseburg, Oregon

• Median list price: $402,000

• Median days on the market: 54

• Number of listings: 261

10. Panama City, Florida

• Median list price: $449,948

• Median days on the market: 74

• Number of listings: 2,480

Data is sourced from Realtor.com and is accurate as of June 3, 2024.

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This article originally appeared on GOBankingRates.com: 10 US Cities With the Best Markets for Buyers To Get a House Below the Asking Price