As a homeowner, it is important to have a thorough plan when considering listing your home for sale. Of course, the first step in doing this is to hire the appropriate real estate agent that is knowledgeable in your local market and may provide key insights in order to obtain top dollar for your home. In addition, homeowners may also want to consider local market factors such as the inventory of active listings for sale as well as recent home price trends. Lastly, homeowners may also want to consider their timing. For example, the spring home buying season typically sees more buyers in the market competing for homes. As a seller, this can result in even better yields from your sale. We discuss some recent data from ATTOM Data Solutions highlighting which months of the year yield the highest returns for home sellers.
Warmer weather heats up home prices
This ATTOM Data Solutions analysis looked at more than 46 million single-family home and condo sales between 2011 and 2021. In a nutshell, as the weather warms up during the spring and summer months, prices heat up as well. As a matter of fact, the top 15 best days of the year to sell are in the month of May. As for the best months to sell your home, they ranked by their average premiums as follows:
- May: +12.6%
- June: +10.7%
- July: +10%
- April: +9.2%
- March: +8.9%
- September: +7.9%
- February: +7.9%
- August: +7.9%
- December: +6.3%
- January: +6.2%
- November: +6.1%
- October: +5.2%
Summary
As with any local market, the best times of the year to sell your home can be highly variable depending on local market factors. Overall, the warmer months tend to produce higher sale prices as indicated by this analysis from ATTOM Data Solutions. However, there may be exceptions to these rules. For example, in South Florida, oceanfront condos tend to be extremely popular among seasonal residents during the winter months. With this said, selling an oceanfront condo in South Florida can be quite lucrative during these cooler months when the majority of likely buyers are in the area.
At Live South Florida Realty, Inc. we have assisted many clients with their real estate needs. Are you looking to buy or sell a property in South Florida? Now more than ever, it is critical to have a qualified real estate team and the proper search tools behind you. Live South Florida Realty, Inc., has been a leader in the South Florida market for many years. Let our team of professionals assist you with buying or selling your piece of paradise today! In addition, our recently launched “Florida Home Search” app is now available on the Apple App Store and Google Play Store. With real-time MLS feeds, this app lets you set your own alerts to notify you as soon as a property meeting your needs hits the market. Furthermore, it will also let you know of recent closed sales in your area so that you may be even more educated on the market. Be sure to download this app for your smartphone or tablet today!
