There are definitely better times than others to sell your home, but the South Florida market is different due to a variety of factors. The state’s year-round beautiful weather is an important element. The late spring or early summer is traditionally the most auspicious time, when school is out for the year and people have more time to view the properties in which they’re interested. However, there are other elements to consider.
Spring Time Sales
Statistics demonstrate that properties sell the most quickly during May, with sales occurring on an average of nine days faster during this time period. They also sell, on average, for approximately $1,500 more than at any other time and there’s a very good reason – income tax refunds. Many people use their tax refund as part of their down payment or for moving expenses and this time of the year is especially beneficial for relocating if the buyer has school-age children.
Reasons for Relocating
The autumn months can be fruitful, depending upon the reason for the relocation. Many families want to have the paperwork and move completed so they can celebrate the holidays in their new home. Additionally, there are always buyers that must relocate due to a new job, transfer, or desire for a better school district. It can also eliminate the competition of homes that were listed in the spring.
The type of buyer will also have an impact. Dwellings such as condos and townhouses are typically more attractive to older buyers during winter months due to the great weather. Those with children are more likely to begin a home search after school is out.
Use Your Own Discretion
Home sales do fluctuate across the various seasons. There’s more competition during spring, but sellers are more likely to obtain a selling price closest to their listing price in August. Sellers are less likely to have a selling price matching the desired list price in January. If the property is vacant and ready to move into, any time can be a good time to sell.
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