We are getting closer to the summer selling season, so the Florida Real Estate Market is already starting to heat up.
The Florida Association of Realtors posted an article recently saying how the beginning of April is the best time to list your house. Article
The reason is because you are getting on the market before the competition gets higher in the summer. With less competition, there are usually less price cuts and they sell about 9% faster. It goes on to explain that the asking prices start going up in June. But since there is more competition then, properties have an increased likelihood of a price reduction throughout the summer if it does not sell quickly.
Here are the last 2 months of data for Broward County Single Family Homes.
February 2019 Single Family Homes, Broward
March 2019 Single Family Homes, Broward
In February, the median sales price was $350,000, and then jumped to $365,000 in March. However, the median time to contract and median time to sale both remained pretty steady. The median time to contract went from 56 days to 55 days. The median time to sale went from 97 to 95 days.
If you want to see more statistics on the South Florida real estate market, please visit my page at https://realestatebylilli.com/market-statistics/ which will have more data for you.
