Sometimes timing is everything in the dynamic world of real estate. Deciding to sell your home is one of life’s biggest decisions, but picking the perfect time comes down to research, experience, and a little bit of luck. If you’re wondering if now is the right time to sell, the best thing you can do is read up on the current state of the real estate market and any potential headwinds and tailwinds ahead.

The residential market has been a roller coaster ride since 2020. While a lot of the pandemic-induced challenges have dissipated, the market still hasn’t entirely returned to normal. Nevertheless, Florida remains one of the hottest markets in the United States with both buyers and sellers finding success.

So is this winter the right time to sell? To help you with your decision, we’ll review the current state of the market and discuss some of the pros and cons of selling this time of year.

Current Florida Real Estate Market Trends

Markets across the US are facing inventory challenges and home prices are even declining in some areas. However, keep in mind Florida’s market doesn’t always follow national trends.

In the Sunshine State, inventory levels and home prices have been slowly stabilizing throughout 2024, and this trend continued throughout the third quarter. However, high interest rates are also weighing on consumers and overall home sales are still much lower compared to last year. 

According to the Florida Realtors research department, Q3 home sales were down year over year, while home prices have been semi-stable.

• Single-family home sales in Florida were down 2.6% compared to Q3 2023, while the median sale price was $410,990 (a .02% increase since last year).
• Condo-townhouse sales were down 12.3% during the same timeframe, while the median price landed at $314,000, down 2% year over year.

The home sale story isn’t necessarily as bad as you might think. Not only was September of 2023 a surprisingly strong sales month, but Hurricane Helene’s devastating impact in September of this year disrupted the market for approximately 6 business days, which led to lower-than-normal sales. 

Fewer homes are selling compared to last year, but those that are selling are maintaining their value. More homes are selling and prices aren’t dipping, both of which are positive signs for potential sellers.

Florida Inventory Levels Are Rising

Florida housing inventory has been rising for most of the year, and we saw a large jump in Q3 2024. Single-family home listings were up 43.8% year over year, while condos and townhouses were up 80.5% year over year.

Inventory is an important metric for evaluating the current state of the market. A buyer’s market occurs when there is more housing inventory than interested buyers. In a buyer’s market, buyers have more negotiating power, and sales timelines are generally longer.

While inventory is rising, it’s still below average and not high enough to trigger a buyer’s market. These increases are likely driven by a declining rate environment. A rate-driven inventory boost isn’t all bad news for sellers, because it could also mean more buyers are coming off the sidelines.

What Will The Florida Real Estate Market Look Like In 2025?

Looking ahead to 2025, there are multiple competing factors that could lead to a bit of uncertainty in the market. Most experts agree that a downturn is unlikely, but whether we’ll see a buyer’s market or a seller’s market in 2025 is still anyone’s guess.

The most important factor that will influence the market next year is interest rates. The Fed slashed interest rates in Q3, and the declining rate environment is likely to continue through next year.  It’s expected that these rate cuts will continue. While the Fed doesn’t control mortgage rates, its monetary policy decisions heavily influence them. Most experts agree that mortgage rates will also fall in 2025, which should ease buyer affordability challenges.

Declining rates are likely to bring buyers and sellers off the sidelines and unleash one to two years of pent-up demand. At the same time, home prices are continuing to rise and inflation and several other factors continue to weigh on the broader economy. There is a good chance demand will increase, but consumers in 2025 might also face greater financial strain.

Is Now The Right Time To Sell My Florida Home?

While 2025’s real estate forecast is up in the air, Florida’s market as of right now is very balanced. Housing inventory is up, which favors buyers. Home prices are still rising, which favors sellers. Demand is still strong, but high interest rates are still keeping both buyers and sellers on the sidelines. As a result, the market doesn’t appear to be significantly favoring buyers or sellers.

The decision to sell ultimately comes down to your goals and financial situation; however, the market and time of year can be your guide. To help you with your decision, here are some of the pros and cons of selling at the end of 2024 or the beginning of 2025.

Pros Of Selling Your Home This Winter

• Less Competition – Spring and summer are the busy seasons, which means you can expect fewer listings and less competition in the winter. While there are fewer buyers in the market, there are also fewer listings. 
• Fewer Real Estate Agents – The holiday season is a downtime for many real estate agents, which means an increase in for sale by owner properties. Finding a good real estate agent and properly marketing your property could give you a competitive advantage and help you stand out this time of year.
• Economic Uncertainty Ahead – The real estate market has been a roller coaster ride for the past several years. While a downturn or crash is unlikely in 2025, there could still be economic uncertainty ahead.
• Your Listing May Appeal To Snowbirds – Selling during the winter months gives you the opportunity to market your listing toward snowbirds. Thousands of people from all over the United States and beyond head to Florida to beat the cold weather this time of year. Many of them eventually go on to buy a winter home or make a choice to relocate permanently. Those that do usually prefer to do their shopping while they’re here in person, typically between the months of November – March.

Cons Of Selling Your Home This Winter

• Fewer Buyers – November through January isn’t the most popular time to shop for a new home in Florida. Fewer buyers means less negotiating leverage and potentially a longer sale time. However, the buyers who are shopping might be more motivated to move quickly.
• It’s The Holiday Season – People are busy this time of year, and that may include you. Selling your home is a lot of work and a major time commitment, especially if you don’t have the right team and resources in your corner.

Finding A Good Realtor Is The Key To A Successful Home Sale

Your chances of earning the highest return and closing on your timeline are much better with a real estate expert in your corner. This is especially true during the busy holiday season. There are so many different pieces involved with selling a home, and it can easily be overwhelming with a DIY approach.

Bee Powell is among Central Florida’s most experienced real estate brokers. Bee Realty Corp’s REALTORS® are ready to take on the heavy lifting so you can enjoy quality time with your family this holiday season. You can expect any of our well qualified and experienced REALTORS® to be by your side throughout the entire process. Here are a few examples of how we’ll support you through your home sale:

• Marketing Your Listing – You can trust we’ll give your listing the attention it deserves. We’ll guide you on best practices for home staging and take amazing pictures for your listing. We’ll utilize social, digital, and traditional channels to ensure your property reaches as many potential buyers are possible.
• Setting The Right Asking Price – The “Goldilocks approach” is the best practice when it comes to setting an asking price. If you set it too high, your home may sit on the market too long which can be a bad look. Set it too low, and you’re leaving money on the table. We’ll do all the research, run a comparative market analysis (CMA), and make sure we’re pricing your property right.
• Negotiating Terms – Negotiating closing terms is essential to land the best possible deal. This is another area where an experienced REALTOR® makes a huge difference. We’ll handle all negotiations to ensure we land with a deal that works for you.
• Navigating Closing – The closing process can be intimidating. The process is usually four to six weeks and involves an intensive amount of paperwork. You can count on us to guide you every step of the way.

Bee Realty Corp agents have the skills to help you with the most complex or daunting real estate transactions this winter. If you’re ready to sell your home, don’t wait another day. Give us a call now!