A winter chill tends to set in on the residential real estate market this time of year across most of the country. It should come as no surprise, however, to learn that here in sunny Florida, the real estate market remains hot. After all, as headlines constantly remind us, Florida tends to forge its own path.
While fewer home closing contracts are signed during the month of December elsewhere, closing contracts continue to be signed at a healthy rate here in sunny South Florida.
So, if you thought you needed to wait for the spring to sell residential real estate in Florida, think again! In fact, there are a number of compelling reasons to put your South Florida home up for sale during the holidays.
What drives the market for holiday home sales in South Florida?
There are a number of factors that contribute to the unseasonably warm pace of real estate sales in The Palm Beaches and throughout much of Florida during the holidays:
- The return of seasonal residents to South Florida. After spending the summer up north, flocks of snowbirds are once again migrating to the winter roosts in Boca Raton, Wellington, the Town of Palm Beach and other desirable locations along The Palm Beaches and Treasure Coast.
- The pandemic has introduced new dynamics to the market as well. After being forced to work from home for months, many people have realized that they no longer need to be tethered to a physical workplace. This represents a major shift in residential trends. Traditionally, where we work has been one of the primary – if not the primary – factor when it comes to determining where we live. Many people have now realized that it is possible to live where they want to live, rather than where they work. This has led to a steady stream of people relocating to Florida.
- There are still those who need to be at least relatively close to their workplace. But that doesn’t mean that they won’t be looking to purchase real estate in Florida in the near future. The end of the year is a common time for transfers. And you probably don’t need a Florida real estate lawyer to point out the tax advantage of buying that new home in The Palm Beaches sooner rather than later.
Holiday Home Sales in South Florida
There are definite advantages to putting your South Florida home up for sale during the holiday season, including:
- Homebuyers aren’t fooling around in December. Junior may be wishing for his “two front teeth” this Christmas, but his folks might have a new home in The Palm Beaches at the top of their wish list. And, as any Florida real estate lawyer worth their salt will tell you, the folks who are shopping for a house in December tend to be serious buyers.
As Investopedia reports, “Anyone shopping for a new home between Thanksgiving and New Year’s is likely going to be a serious buyer—they aren’t going to spend their precious time around the holidays seeing how the other half lives. Putting your home on the market at this time of year and attracting a serious buyer can often result in a quicker sale.”
- Supply is usually lower this time of year. Research has shown that, “Residential inventory drops by about 20 percent between October and November and then another 20 percent for December.”
That means your home – whether it is a lakefront estate in Boca Raton or an ocean-view condominium in The Town of Palm Beach – will stand out even more.
- There’s no place like home for the holidays. When it comes to selling your home during the holiday season, one of the best tips is to embrace the holiday spirit. “Home is where the heart is and emotions play a huge role the homebuying process. Capitalize on this by making your home a little cozier during this sentimental time of year.”
But don’t get too carried away. “The right decorations and less clutter will let buyers picture their own families celebrating the holidays in your home next year.”
If you are interested in buying or selling South Florida real estate at this very special time of year, dedicated Florida Bar Board-Certified Real Estate Attorneys David E. Klein, Esq. and Guy Rabideau, Esq. of the Town of Palm Beach’s Rabideau Klein have the expertise that can ensure your holiday home sale will be happy.
Contact us to discuss your legal needs regarding real estate in The Palm Beaches and throughout South Florida.