Buyers choose to buy all year long for various reasons. Leases expire, their existing home goes under contract, or a new job opportunity in SW Florida presents itself for an out of state buyer. People retire, relocate, and buy vacation homes 12 months out of the year. Florida is a net gain state, meaning it’s gaining more residents than it loses each year. So, we decided to answer the question, “Are certain months better to list your home for maximum results?”
As you can see from the graph, listings pick up each year around October. In 2016 it started in September, but only modestly. As a seller, you have a distinct advantage of being on the market in August and September over those that enter the market in October.
With limited choices for buyers, they are forced to scoop up homes that meet their criteria quickly for fear of losing out to other buyers. This fear disappears when more listings enter the market. In fact, when buyers lose their fear of missing out on a home, they become indifferent. When this occurs, we know we’ve hit a pricing plateau and buyers have turned off. The market must re-balance itself, and correct. The sellers that react and respond quickly get out. The sellers that do not, linger on the market wondering what it’s going to take to sell their home.
Thankfully we don’t have that market right now. Buyers are motivated because many sellers have made price corrections. Interest rates are rising, and it’s costing buyers to wait. They need a home, and they want one now, within reason. Buyers aren’t acting stupid today. They are educating themselves, studying the market, and acting when they need to.
And this is precisely why sellers who are on the market in August and priced correctly have a distinct advantage to sellers who wait until October. Ask yourself two questions?
When is the best time to sell an item? The answer is when there are fewer items on the market. When is the best time to purchase an item? This answer is when there are more items to choose from. It’s simple supply and demand.
The listings are coming, we know this for sure. It happens every year. If you’re a seller contemplating a sale, wouldn’t it make sense to beat the seller rush and put your home on the market now? Buyers are out there, and they’re motivated. Many buyers are frustrated because they can’t score a deal. They’re getting beat out by other buyers and watching home after home come off the market while they have none. They need a home, they’re watching rates go up, and yet they can’t catch a break.
Sellers can take advantage of this mismatch, but time is running out. Soon, other sellers will have the same idea and place their home on the market, and you lose your advantage. Oh, you can still sell in October-December. It’s just more fun when less sellers are competing with you.
Imagine being a high school girl waiting for a guy to ask you to prom. Wouldn’t it be nice if there were 5 girls in the class and 30 boys? You’d practically have your pick of which offer to choose. You wouldn’t settle for the 1st offer if it wasn’t right, because you know better options are a moment away. It wouldn’t be so good for the buys though. Only 5 would get dates, and the other 25 would be waiting for a new girl to move to town.
This is what it’s like in August in the SW Florida housing market. Buyers are looking. Supply is limited in certain price ranges. Our team is having another record month in August. We need more listings. Our marketing is working. If you’re thinking of selling anytime soon, we should probably talk.
Call Brett or Sande Ellis 239-489-4042 Ext 4. Or visit www.SWFLhomevalues.com to get an instant free idea of what your home may be worth. Let us show you how we can save you thousands on your next transaction!
