When it comes to selling a house, you don’t need many potential buyers, just one who is willing to pay your offering price. This meeting of the right buyer and the seller is crucial.
Orlando, Florida is popular for its warm climate and stunning beaches. Home to two theme park giants, Disney World & Universal, it is the ultimate place to live for both singles and families.
If you are selling a house in Orlando, it will sell like hotcakes, unless you sell it at the wrong time. So, what is the right time to sell a house in Orlando, FL?
The Right Time to Sell a House in Orlando
If you want to sell a house anywhere, you must figure out the right time to sell your house. The right buyer is always available at the right time. Depending on the place, the right time can make a difference of a few hundred to thousands of dollars.
The housing market did get hit for a few months during the start of the pandemic, but this year things have been looking positive all over the country.
This November, the city hit its highest sales record. It is crucial to know which time is right as your house might stay stagnant for months in the market before it gets sold. Do some market research before deciding to put your house up for sale.
Why Does Orlando Have A Lucrative Housing Market?
Based on important investment characteristics such as income, reasonable real estate prices, and a rising population and employment market, Orlando is listed as one of the best places to purchase a rental property in 2021.
Lucrative cash offers provided by experts like Orlando House Buyers will allow you to sell your home quickly and without incurring Realtor fees. Makes Orlando even more attractive to house buyers and sellers.
Weather in Orlando
The main reason why people want to move to Orlando is the weather. Especially if you are coming from the colder parts of the country and want a change of weather, Orlando will be perfect for you as it remains sunny 95% of the year.
Living in Orlando may feel like being on a tropical vacation forever. Even though the area gets frequent rainfalls, it often feels like a relieving shower after or during a super hot day.
Real Estate Market in Orlando
In the past, the city has seen a steady rise in median home prices. The real estate market is active and sees plenty of sales every year. People choose to add value to their property before selling it at a higher price, as the demand for quality properties is often high.
The minimum number of days that a property stays on the market range from 51-64 days, depending on the selling time.
Cost of Living in Orlando
The average cost of living in Orlando is around $100, which is around $11-53 less than other places in Florida like Miami, Key West, Naples, Ponte Verde, etc. The national average is also $100, which makes Orlando a pocket-friendly city.
Recreation
You get the best of all worlds in Orlando when it comes to lifestyle and recreation. From natural beauties like oceans and natural reserves to amazing theme parks and tourist attractions, you will find everything there. Orlando is a hub for art, culture, sports, shopping, wellness, etc.
House Sales Analysis By the Month
January:
January is the worst month for selling houses in Orlando. If your house is in listing in the first month of the year, and you are pushing for a sale, chances are that you might have to sell it at a price much lower than you anticipated.
The prices can fall by close to 9% of the average housing prices, so it is best not to try to sell your house during January.
February:
February is not much different from January, with the prices being as low as 7.19 percent less than the average prices. Skip out on selling this month as well, unless you want to sell at a loss.
March:
Prices will improve as the year progresses, with prices improving by at least 2% than it was in February. You will still be selling at a loss, but the prices will be better than it was in January.
April:
The pricing will improve as the months proceed. Only -3.37 percent of the average property prices in April will be lost.
May:
You will face a much lower loss in May. The housing prices will be around 2.42% less than the average.
June:
You will face the lowest loss in June, with prices being around 0.42% less than the average sales price. Try renovating your house for improvements and make sure it is enlisted by July.
July:
July house sales are much better than August and you might be able to secure a better price. The housing prices can get about 2.98% higher than average. Remember to list your house during late June or early July to ensure a faster sale.
August:
According to past stats, in August you can still sell your house at a higher price, but the percentage is not that high. You will only see around 0.3 % higher than the average selling price.
September:
Starting in the fall, real estate prices start seeing a steady rise. September is the 3rd month when you can sell your house at a decent price. The average increase can be around 3% higher than the average price.
October:
You can try selling your house in October, but the sales are often much lower during that time. However, a quality property will sell, and you might sell at 1.6% above the average sales price.
October is also a great time to fix up your house and improve its quality before selling. If you finish the renovation by November, you might make a faster sale during that month.
November:
November is usually the month when your house will sell the fastest. So, if you are hoping to sell your house quickly, make it available on the market by November.
Sales are often high during the early months of winter when most people living in cold regions decide to move to Orlando before the freezing season arrives, which can make it difficult to move.
December:
December is one of the two best months for selling houses in Florida. In December, you can sell at a higher price, which can get as high as over 8K dollars more than the average price.
There can be many reasons why December sales often get a higher price. It can be due to a fall in supply as people do not want to list their houses close to Christmas. It can also be due to the rush of moving before the new year. Whatever it may be, chances are you will sell at a better price in December.
Bottom line
Selling your house at the right time is vital, especially when you are doing so in Orlando. The unique market makes it difficult to sell in the first six months of the year, so try to sell a house in Orlando, in November or December for the best prices.
You may also like to read following articles:
How to Sell Your House During a Chaotic Pandemic?
Selling Your Home? Here Are Hassle-Free Solutions
