Understanding How Long It Takes to Sell a House in Florida

If you’re considering a real estate career in the Sunshine State, you might be wondering, "How long does it take to sell a house in Florida?" On average, it takes about96 daysReal Estate Blog Average Time To Sell A House In Florida #how Long Listwithclever.com to sell a home in Florida. This includes about 61 days on the market and another 35 days to go from contract to closing.

This timeline can vary based on several factors, including location, economic conditions, and inventory levels. Let’s take a closer look.

Factors that Influence the Time It Takes to Sell a Home in Florida

Understanding how variables impact the speed of home sales can help both sellers and real estate professionals set realistic expectations and develop effective selling strategies. Here are a few of the factors that can accelerate or slow down the home-selling process in Florida.

Location, Location, Location

In 2023, many of the fastest-growing Florida real estate marketsFastest Growing Real Estate Markets Florida Blog were in coastal cities like Tampa, St. Petersburg, Cape Coral, and Pensacola. In 2024, some of the Florida cities with the fast-selling homes include:

• Gainesville23070 VA Gainesville Housing Market City - 14 days on market

• Tampa18142 FL Tampa Housing Market City - 24 days on market

• Orlando13655 FL Orlando Housing Market City - 29 days on market

• St. Petersburg16164 FL St Petersburg Housing Market City - 34 days on market

While much of Florida still enjoys a strong housing market, according to a recent Creditnews reportResearch The Fastest And Slowest Selling Housing Markets In Q1 2024 Creditnews.com, three Florida metro areas are among the 10 slowest-selling metros in the U.S. The median number of days on the market are as follows:

• Cape Coral-Fort Myers, FL2654 FL Cape Coral Housing Market City – 71 days on market

• Bradenton2052 FL Bradenton Housing Market City – 81 days on market

• North Port12742 FL North Port Housing Market City - 88 days on market

The Strength of the Economy

Florida’s economy continues to outperform the national average, maintaining a lower unemployment rate for44 consecutive monthsDEO Press 2024 07 19 Florida S Unemployment Rate Remains Lower Than The National Rate For 44 Consecutive Months News Center. Recently, CNBC named Florida the top economy in the nation07 18 Americas 10 Best State Economies.html 2024 for the second year in a row. As of June 2024, Florida's unemployment rate was a low 3.3%, compared to the national rate of 4.1%.

This robust economic performance attracts more buyers to the state, often increasing demand for homes and reducing the time they spend on the market. As a result, cities like Tampa and Orlando, which benefit from both statewide economic health and strong local job markets, often see homes selling more quickly. Conversely, in areas where the local economy is weaker or unemployment rates are higher, homes may take longer to sell due to reduced buyer demand.

Housing Inventories

Housing inventories play a significant role in how long it takes to sell a home in Florida. When too many sellers list their homes at once, the market can slow down, especially during economic downturns when mortgage defaults increase.

Currently, inventory is tight nationwide, and Florida is no exception. Despite the easing of pandemic-related fears, many markets still face low inventory levels. In June 2024, there were 197,286 homes for sale in FloridaFlorida Housing Market#overview State, a 39.2% increase year over year. Newly listed homes numbered 43,723, up 2.8% year over year. The average months of supply now stands at five months, up two months from the previous year. 

Generally, a supply of less than six months is considered low inventory. This can be a double-edged sword. While it increases demand, it doesn't always mean homes sell faster. Higher listing prices can make homes unaffordable for many buyers, causing them to linger on the market longer.

7 Ways to Sell a Home in Florida Faster

While you can’t control the economy or housing inventories, there are things you can do to sell a Florida home faster. Start with these quick tips:

• Price it right: Set a competitive price based on comparable homes in the area to attract more potential buyers.

• Improve curb appeal: Invest in landscaping, fresh paint, and other exterior enhancements to make a strong first impression.

• Make quick repairs and updates: Address any minor repairs or updates that could detract from the home's appeal.

• Consider professional staging: Stage the home to highlight its best features and make it more appealing to buyers.

• Use high-quality photography: Use professional photography to showcase the home in the best light and attract more interest online.

• Market effectively: Leverage multiple platforms, including social media, real estate websites, and local listings, to reach a broader audience.

• Highlight unique features: Emphasize any unique or desirable features of the home, such as a pool, updated kitchen, or proximity to amenities.

It’s a Great Time for Real Estate in Florida

Florida has all the elements needed to generate quick real estate sales right now. Inventories are relatively low statewide, and the economy is rebounding faster than the national average. Florida's attractive lifestyle, with its white beaches and popular tourist attractions, continues to draw buyers looking to escape harsher climates.

However, the housing market varies across different regions. While some areas like Tampa and Orlando see homes selling rapidly due to high demand, other regions may experience longer selling times due to higher prices or local economic conditions. Understanding these nuances is key to successfully navigating Florida’s real estate market.

If you’re ready to start your real estate career in Florida, Aceable's Online Florida Real Estate SchoolFlorida Real Estate License is the ideal way to get started. Explore your options today and choose the perfect package for your needs.