If you’re in the market to sell your home, it’s likely that you’ve asked yourself this question. You want your home to sell quickly and for the best possible price, but is now the best time to go down that path?
There are lots of online tools available, such as a home value estimators or seasonal data reports, that can give you an idea of the best time to sell.
The time in which your home goes on the market may not always be up to you (if you’re moving due to a job transfer, for example). However, it’s helpful to know what contributes to a home selling quickly and when buyers are most likely to act. Keep reading to find out.
What Inspires People to Move?
Here are the top four reasons homeowners sell:
1. To Upgrade To A New Or Better Home
The top reason is to upgrade to a new or better home. “Better” is a relative term and could mean better schools, better location for a commute, or just better in quality.
If you’re like most owners, you’re financing your new purchase, so the money you get from your existing home is used for a down payment on the new one. Factoring that number in will help determine if now is a good time to sell for you.
Keep in mind the value of appreciation. If you’re upgrading to a larger, more expensive home that’s in a thriving market, then the newer, more expensive home will have a larger net appreciation than a smaller home. You need to factor that into your decision if this is the right time to move.
2. An Expanding Family
Another reason to sell may be to start or grow your family. Families might have a new baby, adopt, or take in family members that need care. Typically, this kind of change requires more square footage to accommodate for their growing family under one roof.
3. Relocating for A New Job or Job Transfer
New jobs are a common reason to move, too. This situation might be completely out of your hands. If you are job searching (and have more control over the situation), you might want to consider relocation to a place you’ve always wanted to live.
It’s hard to beat Florida’s weather, but some folks like more seasonal variation. Moving more north could be a new adventure. In the Florida market, there are some seasonal cycles, but they are not nearly as severe as in places with extreme winter temperatures.
4. Need to find cheaper housing
For many homeowners, downsizing is their next move. Whether it’s from a lost job or empty nesting, the need for a smaller space can inspire a homeowner to sell.
How Long Do People Stay in a Home?
Sometimes, homeowners just get an itch to move – whether they’re seeking a change of scenery, being closer to family or friends you miss seeing, or perhaps being closer to grandkids. Whether it’s by choice or due to an unexpected life change, most homeowners average about 7-9 years in a house.
Buyer Activity Cycles
A buyer activity cycle might be a factor in if it’s the right time to sell. It will tell you if you can wait for the next peak or if you need to make the move now.
Keep in mind the cycle is typically not a big swing in the Florida market. From the peak to the valley, it varies by about 20,000 sales according to the latest data. The peak is about 80,000 per quarter in the spring to about 60,000 in the winter. Average is about 70,000 year-round, so rest assured there are lots of buyers available to purchase your home when you need to sell.
Make Sure You’re Ready
More important than the number of buyers is your ability to be ready. Price, condition, and location are the primary factors when selling a house. You control two of those: the attention to detail when getting your house ready to sell and the price you are willing to accept.
If it’s time to sell, focus on curb appeal, and be priced to the market. Lean on your real estate professional for advice and marketing expertise to get the process started. Contact us today if you’re ready to sell your Florida home.