Top 10 Places to Buy a Home for Under Asking Price

A lack of inventory and rising home prices have made it challenging to be a home buyer in many places across the country. But in some cities, things have taken a turn, and buyers now have the advantage. To identify the best markets for buyers, Realtor.com analyzed cities to find the areas where homes are selling for the lowest price relative to their initial listing price.

In these top 10 buyers’ markets, homes have been selling for an average of 9% less than the initial listing price. Let’s take a closer look! 

1. Palatka, Florida

Zillow.com

Median list price: $299,500
Median days on the market: 58
Number of listings: 251

Nestled along the St. Johns River, Palatka is known for its historic charm and outdoor recreation. It boasts great fishing, boating, and a quaint downtown area with antique shops and local eateries. The city also hosts several annual festivals, including the Florida Azalea Festival, which draws visitors from across the state.

2. Key West, Florida

Median list price: $1,300,000
Median days on the market: 80
Number of listings: 1,306

Famous for its vibrant nightlife, historic sites, and stunning sunsets, Key West offers a laid-back island vibe. The area is home to top-rated schools and a bustling arts scene, making it a favorite for families and retirees alike. With a unique blend of cultures, Key West also features diverse cuisine and a welcoming community spirit.

3. Breckenridge, Colorado

Median list price: $1,125,000
Median days on the market: 54
Number of listings: 427

A haven for outdoor enthusiasts, Breckenridge offers world-class skiing, hiking, and mountain biking. The town's charming Main Street is lined with boutiques, restaurants, and galleries, attracting visitors year-round. Breckenridge also hosts numerous festivals and events, such as the annual Ullr Fest and the Breckenridge International Festival of Arts.

4. Sevierville, Tennessee

Zillow.com

Median list price: $699,900
Median days on the market: 58
Number of listings: 1,388

Known as the gateway to the Great Smoky Mountains, Sevierville is perfect for nature lovers. The area features family-friendly attractions, excellent schools, and a thriving tourism industry. It's also home to Dollywood, a renowned amusement park and resort that adds to the area's appeal.

5. Jackson, Tennessee

Zillow.com

Median list price: $299,900
Median days on the market 47
Number of listings: 404

Jackson is a city with rich musical heritage and a strong sense of community. It's home to several colleges, a revitalized downtown, and numerous parks, providing a balanced lifestyle for its residents. The city also features a variety of local dining options and attractions like The Ballpark.

6. Rome, Georgia

Photo: Keith Beauchamp

Median list price: $292,575
Median days on the market: 42
Number of listings: 236

With its historic architecture and scenic beauty, Rome offers a peaceful yet vibrant environment. The city has excellent schools, a variety of outdoor activities, and a strong local culture centered around its riverside setting. Rome is also known for its medical community, hosting several top-rated hospitals and medical centers.

7. Sonora, California

Sonoraca.com

Median list price: $450,000
Median days on the market: 41
Number of listings: 267

Sonora, set in the Sierra Nevada foothills, is a charming town with a rich Gold Rush history. It features a close-knit community, top-rated schools, and plenty of outdoor adventures, from hiking trails to nearby ski resorts. The town also offers a vibrant arts scene, with local theaters, galleries, and cultural events throughout the year.

8. Greeneville, Tennessee

Zillow.com

Median list price: $349,900
Median days on the market: 49
Number of listings: 130

Greeneville combines small-town charm with historical significance, as it was home to our 17th President, Andrew Johnson. It has several historic sites including the Andrew Johnson National Cemetery, good schools, and community events that keep the town lively. The nearby Appalachian Mountains provide stunning scenery and outdoor activities. The town is also known for its craftsmanship, with local artisans and craftspeople contributing to Greenville's oldest local market.

9. Roseburg, Oregon

CityofRoseburg.org

Median list price: $402,000
Median days on the market: 54
Number of listings: 261

Known for its wineries and picturesque landscapes, Roseburg offers a tranquil lifestyle. The area has a strong community focus, with good schools and plenty of outdoor recreation. One unique trait about this town is its love for covered bridges. Roseburg also boasts a rich history and is home to several museums and historic sites that celebrate its past.

10. Panama City, Florida

Median list price: $449,948
Median days on the market: 74
Number of listings: 2,480

Panama City is famous for its beautiful beaches and vibrant nightlife. It's a hotspot for tourists and locals alike, with a thriving economy and numerous recreational activities, from boating to golfing. The city is also known for its lively arts and cultural scene, with events like the annual Gulf Coast Jam drawing large crowds.

Whether you're drawn to the coastal charm of Key West, the outdoor adventures in Breckenridge, or the historic allure of Rome, Georgia, there's a perfect spot waiting for you. With homes selling below asking prices, now is a great time to explore these buyer-friendly markets.