We buy houses in Miami FL. Selling a home can be a precise science, several elements need to come together in harmony to achieve a satisfactory outcome. One important element that is easy to overlook is timing. Timing is everything, in life, and real estate too! The month or season you sell your home in, certainly has a hand in influencing the sales price and even encouraging buyer behavior. With 2021 fast approaching, if you are looking to sell your home this year, might as well wait till the best-suited conditions!
If you have the luxury of flexibility it is certainly worth the effort to understand the best time to sell. If not, Your Trusted Home Buyer is the prime choice to help sell the Miami property fast and at a fair price at any point in the year. We are local and professional home buyers, and we will make an all-cash offer for your property and assist you to close in as little as one week.
Important Note about Timing
While timing is particularly important, DO NOT let the calendar dictate when you choose to list your house. Time on the market is as important as location and season. Furthermore, timing is an uncertain variable. It changes each year with different trends and situations. All estimations given below are on average estimations, the reality being each city’s real estate trends can be quite different from Florida state figures.
Best Time to Sell in Flordia
On average, in terms of price, the best time to sell a house in Flordia is December. Using data collected from the Redfin Data Center over one year (Jan- Dec 2019) suggests, the median sale price for Flordia homes sold in December is $266,000 which is an $8,667 sales price premium. In other words, selling in December can lead to an $8,667 improvement from the national average.
In terms of speed, the best time to sell a Florida property is in November. The average Days on Market (DOM) in November for Florida stands at 51. This is 4 days faster than the national average.
Best time to Sell in Miami
As noted above, when it comes to timing, each city’s real estate market is subject to awfully specific trends, which can be different per region. The same is relevant to Miami, with a different ideal time for mainland Miami, and a different ‘best’ time for the southern Miami Beach
Again, using data from the Redfin Data Center (Jan- Dec 2018) the most favorable time to sell a home in mainland Miami is in December. Inferring from the data, it is noteworthy that when sold in December, Miami houses are reported to have received of sales price premium of $9,917.
However, for Miami Beach, the ideal time to sell the property in terms of price would be June. Homelight data suggests that selling a beach property in June can lead to a 6.04% higher sales price than the yearly average. It is interesting to note, that unlike mainland Miami, selling in December could lead to a 10% lower sales price. In terms of speed, the best month would be March and the worst would be September. You can close in March 12 days sooner than any month if you were to list the Miami beach house around the December- January time frame.
Other seasonal considerations
- Spring: While spring is touted as the best time to list your house for sale, that necessarily might not be the best move. The spike in volumes and inventory means more competition which could make it more difficult and expensive to sell your home, especially when you look at the property age, location, etc.
- Winter: can be a slow time a year, but off-season buyer and real estate investors like us would be serious contenders to purchase the home
- Summer: Potential high competition, but motivated buyers, especially families looking to move before the next school year
Fall: low competition, but low buyer activity.