For home owners in: Coconut Grove, Coral Gables, South Miami and Pinecrest.
Having extensively worked the single family markets for over a decade, I can firmly say that I have recognized trends and behaviors. This is honestly what separates a really good agent from a bad one. Knowing a market does not just mean knowing what houses are truly worth, it means reading the trends and behaviors to be able to make useful predictions, to help your clients act at the right time; not just for buying, but for selling too!
So with this in mind, and given we are a dominant player in the ‘listing side’ of the business – yes, we are well regarded as ‘expert listing agents‘ rather than just being ‘buyers agents‘, we wanted to share with our readers some very useful advice on when to list your home.
This specifically is for home owners in the single family home markets that are focused around the best private schools: Coconut Grove, Coral Gables, South Miami and Pinecrest.
Every year we deal with many relocations and every year in March the dominant private schools of: Ransom, Carrollton, St Stephens (Coconut Grove) Gulliver, Palmer Trinity, (Pinecrest) St Thomas, St Philips, St Teresa, Riviera (Coral Gables) announce the next batch of kids accepted to the school.
As soon as this happens parents sitting on the fence waiting are suddenly pushed into overdrive and go on the house hunt, full boar with all guns blazing. They are either moving or upgrading from existing homes and they want to be settled before the summer holidays start and everyone goes away until the end of August. That gives them from March to July to get a place.
Given the 45-60 day closing cycle for a transaction, a home needs to be in contract between March and May. This is why every year I see the highest level of business in March.
Don’t believe me? Well, look at the table below that shows the peak transactions per year across these markets. We took all these neighborhoods separately and overlaid them year on year for the last 5 years.
Properties selected are valued between $1M – $3M
See the full data set (per area, per month) here