In other areas of the country, the end of the year is a time when both buyers and sellers tend to postpone their real estate plans and wait for spring. But in Florida we live and die by “season” when snowbirds flock to Florida for warm weather. Traditionally the peak buying season is January through April. The selling season in Lakewood Ranch extends through June because there are more year round residents there, but in University Park and other areas the snowbirds head north after Easter.
When is the best time to buy, the beginning or the end of season. Historic logic holds that the end of season produces more deals because sellers who have not yet sold by Easter begin to panic and will accept lower bids than they would earlier in the year.
But this year will be different than the past several years because inventory is lower than it has been in about 7 years. Yes the super deals might still be at the end of season, but I would argue that the nicest properties that are also a great deal will sell at the start of season.
Buyers have been delaying their purchase in Florida for years because of the bubble. But buyers are active again now that we are at or past market bottom. Buyers have money and they are ready for a home in Florida.
When compared to last year, almost every indicator has seen improving conditions. From unemployment numbers and record low interest rates, to inventory levels, pricing and demand, every indicator has show improvement. If all of the indicators improve significantly during season, the best buying opportunities will quickly disappear.
Every buyer must ask themselves, with key indicators improving on a monthly basis, does the risk of buying now, outweigh the risk of waiting and buying later? The answer is becoming more obvious every month. BUY NOW!
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