Are you considering selling your condo? When it comes to selling a condo, it’s not like selling a house. You’ll soon find out that the selling strategy is a little different, staging is important, and time of year also plays a factor in the success of your sale. To make this entire process end with a SOLD sign, it will be important to find out how to sell a condo in Florida, the best time to sell, and when to avoid selling; that way, you can easily move on to your next home. Below we’ll go over everything you need to know about selling a condo in Florida, so let’s get started!
Selling A Condo In Florida
How to Sell a Condo in Florida
If you want or need to sell your condo in Florida, you’ll need to put an action plan in place.
Consider the following steps to create your selling strategy:
Step 1: Determine the Condition of Your Condo
Does your condo need some updating or repairs? This would be the time to take care of any issues around the place before listing. Not only do repairs turn buyers away, but it also reduces your asking price. So you’ll want to make a list of all the renovations you need to make and get started working on those right away.
If you’d prefer not to do any repairs or invest any more money into a condo you’re about to sell, that is completely understandable. Consider instead selling your condo as-is. Usually, real estate investors purchase properties as-is, so you should easily find a buyer.
One buyer that purchases condos in as-is condition in Florida is Sell Your Gainesville Home Today. Learn more about their home buying process by clicking here.
Step 2: Decide on a Selling Strategy
After repairs and improvements are made, you’ll want to figure out if you’re going to list with an agent or sell by owner. Both will require a bit of research, either with finding a good real estate agent or learning how to sell without a realtor. Working with an agent comes with a 6% commission fee, and selling by owner may include a buyer’s commission of 2.5%-3%.
Step 3: Clean, Declutter, and Stage
Presentation is everything when you’re selling a condo in Florida. Unless you get lucky and you’re the only condo for sale in your complex, you’re going to have some competition. It will be important to clean, vacuum, dust, sweep, mop for showings and open houses.
You’ll also want to declutter and reorganize your stuff. Clutter can make the space look overwhelming and full. By removing items and organizing, potential buyers will be able to see the place better.
Staging is key when it comes to having a successful condo sale. Remember, competition may be fierce, and several similar layouts may be for sale at the same time. So to make your listing stand out, you’ll need to stage the unit perfectly. Consider storing any big pieces of furniture, repainting any bright, bold, or dark walls with light neutral colors, and putting away any personal items (like photos). If lighting is an issue in your condo, add more lamps or use brighter light bulbs, and make sure to open all the currents or blinds for showings. Don’t forget to put away all the rugs, even in the kitchen or bathroom. These designate areas and make spaces appear smaller.
If you have a patio with no furniture, consider renting bistro size patio furniture. This will create another living space and helps buyers visualize the place.
A few finishing touches for showings would include:
- Adding a cozy blanket to the couch or patio furniture
- Placing fresh flowers in a vase or fruit in a bowl on the countertop or table
- Rolling three towels in the bathroom and placing them on the counter
- Baking cookies to make the place smell great and to have tasty treats for guests.
These simple staging tricks can really help your place stand out.
Step 4: Highlight Your Condo’s Best Features
If you are using an agent to sell your condo, usually, they will come up with a listing description. But if you’re selling by-owner, it will be up to you to figure out what to say about your condo. Make sure to highlight your condo’s best features, including the amenities that come with the property. Don’t forget to mention the fantastic pool, the great gym access, or the parking spot that comes with your place. Amenities are one of the biggest perks of owning a condo.
Step 5: Wait for an Offer
Once you’ve made repairs, decided on a selling strategy, and made the place presentable, it’s time to wait for an offer to come in. A few things to keep in mind, though, are the time of year you’re selling and the real estate market in Florida. These two factors will impact your home sale, and the time it will take to sell the place. To make sure you’re setting yourself up for success, you’ll want to know when the best time to sell a condo in Florida is and when not to sell-continue reading to find out.
Best Time to Sell a Condo in Florida
The good news is that because you own a condo in the sunshine state; usually, the market is pretty steady. However, spring and summer tend to be the best time to sell your condo because the weather is nice and school is out. You may get families wanting to purchase a second home in preparation for summer vacation or spring break.
Understand The Real Estate Market Trends
Although spring and summer tend to be great months to consider selling your condo, you’ll want to check the real estate market trends for your area too. If you don’t need to sell right away, you may want to hold off if you learn that a new condo development is for sale right down the street.
Furthermore, other factors can change the real estate market trends; for example, COVID-19 completely changed when people were buying real estate last year. So, of course, do what’s best for you, do some research, and make sure this is the best time to sell your condo based on your area’s market trends.
Best Month to Sell a Condo in Florida
Currently, the best month to sell a condo in Florida is in June, so you’ll want to be ready to list in May to sell in June. Right now, the average days on market (DOM) for the property to be listed and a contract to be signed is 54-days. That does not include the average 35-day closing period.
Worst Time to Sell a Condo in Florida
Now that you know when the best time is to sell your condo, it would be helpful to know when the worst time to sell your condo in Florida would be- especially if you’re wondering why your house won’t sell. Usually, Fall and Winter are the worst times to sell a condo, mainly because of hurricane season. But that doesn’t mean you won’t get an offer at all. You could have some snowbirds that come down and are looking for a warmer place for the winter months. Also, since this time of year is slower in the real estate market, there is less inventory, meaning less competition. And off-season buyers also tend to be more qualified and serious. The worst month to sell a condo is in February at 64-days which doesn’t include the average 35-day closing period.
Hopefully, with all this great information, you’ll be able to make your condo sale a success. However, many Florida residents are using another strategy and selling to local cash home buyers instead. The process is less overwhelming and is great if you need to sell your condo fast. Working with a cash home buyer is really easy and includes getting an offer within 24-hours and closing within 7-days. So if you’d rather not deal with the hassle or expense of listing your condo, repairs, cleaning, declutter, staging, and selling during the best time, consider working with a local home buyer instead.
Find out how to know you are working with the best home buyer for your area by clicking here.
Sell Your Gainesville Home Today is a local home buyer that buys houses and condos in Florida. If you’d like to learn more about their home buying process or about their company, feel free to visit their website. Sell Your Gainesville Home Today is also a BBB accredited business and can make you a no-obligation cash offer today!