The Time To Sell Your Home In Tallahassee
Every year in the Spring, we see the rush of home sellers arrive in the Tallahassee real estate market.
It makes you wonder, is this the best time of year to sell a home?
Time To Sell Your Home In Tallahassee
One way to determine the answer regarding the time to sell your home in Tallahassee is to evaluate what past home buyers and home sellers have done.
The graph below was assembled from home sales that occurred since the beginning of last year, but that also went under contract last year. It compares the number of purchase agreements written each month with the number of homes for sale in Tallahassee at that time.
In other words, it identifies the percentage of existing inventory that was sold each month last year.
The best month of the year to sell a home in Tallahassee, in 2015, was June. 22% of all active listings went under contract and eventually closed (we only counted the contracts that eventually closed).
Using this method leaves us with a minor potential for change in the future. Some of the contracts that were written in the later months of the year might close later than the date we gathered the data (2/28/16). Considering we gave it almost a full two months though, I doubt we'll see significant differences in the future.
Another way to evaluate the best time of year to sell a home would be to look at past data and rank each month of the year based upon the percentage of the homes for sale that went under contract each month.
Long Term Analysis Of Real Estate Seasonality
This next graph provides a very clear account of real estate seasonality in Tallahassee. It was prepared by examining contract s and home closings for the past seven years and then ranking each month of every year from 1 to 12, with 1 being the best month (highest percentage of homes that sold) and 12 being the lowest.
The graph shows the median ranking for each month, and just as we found in the previous graph, June appears to be the best month of the year to sell a home in Tallahassee, if you use the percentage of inventory that goes under contract as your top criterion for choosing to sell.
Of course, there still are hundreds of homes that sell each month, regardless of the time of year. If you have been thinking about selling a home, you might want to first know the value of your home. Knowing its value can answer a lot of questions about what you will be able to do after the sale.
Discover Your Tallahassee Home Value
We would love to help you make a move. Whether or not you think that now is the time, it never hurts to sit with professional for information and guidance that you might not have considered. We are here when you need us, simply drop me a note and we'll get you started on your next move!
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