There is a fair amount of debate in the real estate community about the time to sell a property. Most real estate gurus agree that winter, especially in areas that have actual winter weather (ahem, not Miami), is the least desirable time of year to list a property for sale. Frigid temperatures aren’t the only deterrent though. There are also all of those holidays and festivities, and most people aren’t interested in making big changes around that time. However, there seems to be quite a bit of disagreement with respect to the other three seasons. Some argue that spring kicks off the selling season, whereas others claim that the fall is the best time to list. There seems to be less adamancy with respect to summer, but the summer believers strongly insist that it’s actually a great time to begin the sales process because of the fact that inventory tends to decline, and a lot of folks start looking because they have a bit more free time. It does make sense that families with school-aged children would prefer to buy and sell during the summer months in between the academic year, so anyone with property in neighborhoods with good school systems should definitely keep this in mind.
The reality is that all of the assertions regarding the different seasons and whether they are the optimal time to sell property are probably true in some way. It really depends on so much more than the time of year. Specifically, the particular real estate market (which is of course highly local), seasonal trends, the economy, the cost of credit, and so many other factors affect real estate cycles. Miami real estate trends have varied from year to year, sometimes drastically and other times hardly at all. And, even though many real estate markets in other U.S. cities do have a tendency to cool during the hot summer months, this certainly has not been the case in Miami this summer. If anything, there is a forty-niners style land rush taking place in Miami with just about every waterfront piece of land sold, lots in and around Downtown Miami disappearing rapidly, and plenty of other eager buyers clamoring to buy whatever is left.
If you need to sell your property or are simply contemplating selling, the best thing to do is to start assessing the local market a few months ahead of time. Of course, markets can change quickly and markedly in brief periods of time. Nonetheless, by closely monitoring the situation over the course of a few months, prospective sellers should develop a good sense of the inventory and activity taking place. And, it is obviously wise to consult with a local expert to offer advice and guide you through the process.