When should you sell in Miami? Timing could mean thousands | Real Estate
When you decide to sell your house does matter—and in Miami, the best opportunity to maximize your home’s value tends to rise with the summer heat and humidity.
Nationwide, homes listed late last May made homeowners around $5,600 – or 1.6% – more than any other time of year, according to a recent report by Zillow..
Though this is a good reference point, the best time varies between states and even cities.
For those selling a home in Miami, the best time is actually the second half of July. The sunny summer month brought in 2% more for homeowners who had listed their properties then.
The study notes that the dollar boost on a typical Miami home was $11,500. Miami’s median home value is $595,318–up 1.4% over the past year.
Though some people just love to shop in the summer, the study attributes these price increases to the behavior of mortgage rates throughout the year.
“When rates fall, more buyers rush in, putting upward pressure on prices, which could happen at any time of year,” Zillow senior economist Orphe Divounguy said in the report.
The data shows other trends as well, like the best times to sell homes in the West Coast being March and April. San Diego, California actually saw the highest price premium increase among the studied cities–sitting at a 5.3% increase.
For most cities, the best time to sell is between May and June. The U.S. real estate market as a whole average increases around those months as well.
To read the full report, click here.
