Understanding Largo and Pinellas County
I grew up in South Carolina and was exposed to real estate at a very young age. My father was a real estate agent and I remember going to the office with him all the time as his little assistant.
One thing that was interesting about South Carolina during those times was winter tended to be considered a very slow time for home sales.
It makes sense… cold temperatures, holidays, and the mindset that winter = a bad time to list and buy a home helped fuel this dip in the market.
When I moved to Florida, I noticed things were a lot different here. The coldest temperatures were bearable, there was a lot more people here – Pinellas County is the most densely populated county in Florida, and there was a constant stream of people coming from all over the world.
One of the biggest groups is the Florida Snow Birds.
This is a large group that comes from up north including the United States and Canada. Many of them usually come after Thanksgiving and leave shortly after Easter. Usually the Canadian part of the group is restricted from staying here no longer than 6 months.
It’s a well known fact that for a large portion of these people, their money goes a lot further in Florida. This also means many of them can afford to own a 2nd home in Florida and they are more likely to be actively searching during the winter.
Tourism And Weather Keeps Pinellas County Alive
Even those that are not part of the snow birds come down to visit the many attractions and destinations we have in Largo and Pinellas County. We run The Pinellas County Meetup and we’ve found that it’s very rare to run across a Florida native.
There’s many people that decide to move here at all times of the year due to visiting a destination they really enjoyed, family living here, or just getting away from the cold.
Largo, FL Home Inventory And Sales
So let’s dive into the statistics. The chart above reflects the number of properties for sale in Largo, FL on the market from December 2015 to November 2016. As you can see, there’s a little bit of a dip in the beginning of the winter months, but overall, the amount of inventory doesn’t have any huge fluctuations.
On that same note, the chart above reflects the number of sales of properties in Largo from December 2015 to November 2016. This one shows a little bit more fluctuation with a peak in March through August. The beauty of statistics is they can provide some insight, but they don’t always tell the whole story.
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So What Is The Story?
Although sales start to creep down during the winter period, the quality of the buyer is vastly different. With inventory low, and it being slightly lower during the beginning of the winter months, there is a bit of desperation among buyers. Not everyone has the option to move during the summertime and if you decide to list during that time, there’s less competition for you to compete against as a seller.
You also get different types of buyers like the Snow Birds for example, that are more likely to be able to pay cash which reduces financing and contingency headaches.
Other Factors To Consider
Another thing to keep in mind are the costs associated with holding on to a home. I’m often asked, if they would be better off waiting till the summertime. My replies usually are the following:
Well that depends…
Do you have a mortgage you are paying for?
If so… how much of that is going towards interest?
Are you comfortable continuing to pay taxes, utilities and insurance on a property you are ready to sell for a extended period of time?
I’ll be the first to tell you… everything really depends on your individual scenario. What I hope you gather from this article is that there’s much more to consider when selling a home than the time it goes on the market.
If you enjoyed this article, please share it, show the love, and reach out to us if you want to crunch some numbers and see if now is the right time for you to sell your Largo Home!
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(all data current as of 6/13/2021)
Listing information deemed reliable but not guaranteed. Read full disclaimer.