Seasonality is A Thing…
I was thinking about that as I was showing my new customers around Delray. After showing them our downtown neighborhoods I mentioned, “Come back in late August or September… that’s when the best deals are found.”
I said those exact words to Andrew and Linda. I knew they were ready to buy real estate in Delray, but something was a-miss. I mentioned it to 3 other potential buyers this past weekend who weren’t ready to buy now. And I mean it.
You see, seasonality IS a thing here. Real estate demand, and our local population, surge between December and April, then fall in May. To prove my theory look at the graph below. It shows the amount of visitor traffic to my website from this January though today.
As you can see, January – April visitors were strong. But this month, visits to my site fell off the cliff. It’s almost embarrassing, but it is what it is.
It means low season is here. Folks left and are back up north about to enjoy their summer while giving Florida summer a kick to the curb. And this is when you must engage and prepare if you want to buy real estate in South Florida.
Heck, even shopping at Trader Joes this past Sunday at 10:30am was a breeze. What is normally “bumper cars” in their parking lot, was just the opposite. There were spaces everywhere to park.
As we head further into the rainy months, our population will thin out more. Buyer demand will slow – and I’m not talking about 7% interest rates or lack of inventory scaring buyers away. I’m talking about our seasonality. And summer is the low season – the time to buy real estate here.
Buy Real Estate in South Florida or Costa Rica – Both are Seasonal
It was the same when I lived in Costa Rica for 13 years operating our brokerage offices. We would almost close our doors from late August to late October. It rained too hard. Folks were afraid to come during wet season. But that was when the best deals took place. Back then I’d scream to my customers to book flights for September or October. That’s when we’d get 100+ inches of rain… in 60 days.
But maybe 5% took my advice and came. The other 95% said it wasn’t that important to buy real estate when there’s torrential rains. Too bad.
It’s the same in South Florida. By early September hurricane start appearing on the Atlantic Ocean and on our TV’s. By this time of the year, sellers are nervous about the lack of showings and activity. It’s the same each year. Talks of dropping their price becomes normal. Sellers think of everything to helps buy real estate at that time.
So, if you are serious and raising your plans to buy real estate anywhere in South Florida… keep and eye on our weather and start planning your flights around our hurricanes. That may sound odd, but while 99% won’t do that, the 1% who do, may find what they want, at a price they want.
At the very least, buyer competition will be at its annual lows… and that’s when you can buy real estate and get the best deal possible.
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*** Any Pickleball fanatics here? If so, check our my latest video.
*** Weather permitting, tonight’s Art & Jazz On The Ave could be fun.
*** ICYMI – Delray Beach is the 1st city in America to get a Blue Flag designation. Just one more reason we #LoveDelray.
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*** Your Weekly Inventory Update ***
* 4 years ago there were over 54,000 properties available in S. Florida
* It bottomed in February 2022 at 14,485… a 73% drop
* Last week there were 28,049 available… a 102% rise in 16 months
* This morning’s Inventory is 27,908
*** Inventory is DOWN 17 of the last 18 weeks***
So, if you’re thinking of moving or relocating to Delray Beach or South Florida, I can help you.
Grab my FREE Delray Beach (and surrounding areas) Relocation Guide – https://mrdowntowndelray.com/relocation-guide-delray-beach/
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🧑💻 Home Search: https://mrdowntowndelray.com/
Realtors – Partner with me at EXP Realty! Schedule a call to learn how. Florida license SL3444240. (Oh yeah, I lived in Costa Rica for over 12 years. Owned & operated 13 real estate franchise offices. If you’ve ever thought about buying a home in Costa Rica, call me. I can help you get from here to there safely and guide you through the entire process. My Costa Rica Rolodex is full of friends, lawyers, tour operator to help ).
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