When is the best time to Buy or Sell a home in Jupiter
When is the best time to buy or sell a home in Jupiter?
Here is the thesis.
More single family homes are sold during the summer months because that is when people who own single family homes most often move. Why the summer? Because that is the time you can move and not interrupt your kids school year.
More condos are sold between January and March because that’s when all the snowbirds flock down here looking for a new place to live.
When is the worst time to sell a single family home or condo? During November and December because nobody buys a home during those months, they’re all buys with the holidays!
So what does the actual data say? My name is Casey Prindle, I’m a real estate agent that works in and around the Fort Lauderdale area. If you’re thinking about buying or selling a property down here, I’d love to talk to you. If your considering a move today, or 6 months from now, lets start the conversation! Feel free to call text or email me! Let me help you open, or close, the latest chapter in your life.
Let’s pull up the single family home data first. Let’s start with the lows. Here we see the total number of sales happening on a given month.
Looks like February and November of 2019 we have lows, April and May of 2020 are the year lows. January, October and December of 2021 are the lows. January, November and December of 2022 is the low. January, and February of 2023 look pretty rough.
Weakest months seem to be November through February for any given year in single family homes. Why does this make sense? Because sales happen 30-45 days after a contract. So that means fewer buyers entered into contracts in November and December, which tracks with the holiday thesis. School starts in August which could also mean Buyers were done writing offers by September which showed up as November weakness. Bit of a stretch, but plausible.
Who is this good for BUYERS!!!!! It means sellers are seeing fewer offers between September and January, so Buyers, great time to make offers where you can expect less competition!
How about some highs. May, June, July of 2019 look to be the strongest. 2020 June, July, August seem to be the strongest months. May, June, July of 2021 look strong. March, April, May of 2022 look strong. May, June, July of 2023 looks strong. Let’s tally some things up here:
The data here is crystal clear and fits the thesis. The summer months, repeatedly, have the most sales activity for single family homes in Jupiter. It’s undisputed. Lets back the closing times off to find the optimal times to list. We’re now 30 days on market before contract, another 30-45 days to close. Target date to list your home should be in by March for closings that show up in late May into June. You would want to list at the latest by May in order to close by late July early August.
How about condo’s
Let’s look at the low months by year. 2019 January, February, November were the lows. January, February, and May look to be the lows in 2020. January, October, and December look to be the lows in 2021. January, February, and November look to be the lows in 2022. January again in 2023 started out rough
So again we see weak sales clustered November through February, which tracks with the holiday thesis.
March, April, May look to be highs in 2019. March, October, December look to be 2020 highs. February, March, April of 2021 are the highs. March, April, June are the 2022 highs. March, May, June of 2023 are the highs so far this year. Let’s total them up:
· February
· March x 5
· April x 3
· May x 2
· June x 2
· October
· December
March and April are the winners with May and June following. So this would track with the snowbird thesis in my opinion. Those March closings were Buyers who began searching and making offers in January, most likely. They were done making offers by April or May.
So did our thesis pan out? In a lot of ways yes. I think there is seasonality to Real Estate in Jupiter. I think you can tilt the odds more in, or away from, your favor depending on when you list. Now lets not get caught up in the minutia of this data, home sales occur each and every month. I would use the data as a general guide in helping your overall analysis, not something to solely base your listing or purchasing decision upon.
Don’t forget the other side of this coin! Buyers want to go shopping 45-60 days before the low months so they’re competing with fewer other buyers! So both buyers and sellers can find value in this data.
So if you’re thinking about buying or selling a home in Jupiter, let’s talk! Feel free to call, text, or email!
