For sellers wondering if there is an ideal time to list their home, new data suggests that the best time to put to do so is around the corner.
According to an analysis by Realtor.com, the week of April 23 could be the optimal time for a seller to put their home on the market in South Florida.
“Overall, we have a steady flow of sales all year round as we are a destination flowing in from all over the U.S. and abroad,” said Bonnie Heatzig, executive director of luxury sales at Douglas Elliman in Boca Raton. “Having said that, we do enjoy a peak in sales when we have the highest number of visitors, particularly in February through April of every year.”
To calculate the optimal time, Realtor.com analyzed seasonal trends from 2018-2019 and 2021-2022 data, and looked at factors like time on market, market pace, competition from other sellers, homebuyer demand and likelihood of price reductions.
For the South Florida area, the week of April 23 had the most benefits for sellers.
The list price of a home starting the week of April 23 was 7% higher than the start of the year.
Homebuyer demand was also higher than the average week of the year. There were 16.9% more views per listing the week of April 23.
There were 4% fewer price reductions this week than in the average week of the year.
Homes spent an average of four days less on the market.
There was slightly less competition than the average week: About 1.9% fewer homes were listed this week than the average during the year.
However, Heatzig does caution on waiting until a specific week to list, as other variables, like mortgage rate increases, can influence buyer decisions, making it necessary for sellers to possibly list sooner rather than later.
As well, sellers getting top dollar can happen earlier in the spring, Heatzig said, citing two properties she sold this February that recently got the record for price per square foot in the building.
“Condos and single-family homes also enjoy different peak times for selling,” Heatzig said. “A buyer may be more likely to use the condo as a second home, and those buyers are typically visiting during the spring months. For a family relocating to Florida from New York, they’re maybe looking closer to late spring, early summer.”
On a national level, the best time to list was the week of April 16, while other markets in Florida, such as the Tampa metropolitan area, and Jacksonville area’s best week to list was the week of April 23.
“The first and second quarter is probably the best time to list your property but we do enjoy active sales all year round,” noted Heatzig. “If you missed the window, all is not lost.”
