Best Time to Sell Your Home ~ is it a Seasonal Thing....?
No matter when a home goes on the market, one should take a few things under consideration that will likely affect not just the ability to sell a property, but more importantly the ability to get your asking price. Timing, it seems, is everything.
The Economy
While the economy does not follow the predictable ebb and flow of the seasonal changes in real estate and in buyer attention, the economy, it’s state and it’s prospects boil down to property values, and consumer confidence. When the economy is under fire, people are nervous about their jobs. There is generally a reluctance to spend, accumulate debt or make major purchases.
The market will tell you what a home is worth. The problem is, during an economic downturn, the market may value your home lower than you had hoped, or than from when you started.
Springtime
In a country like Canada, where there are four distinct seasons, seasonal influences play a large part in creating good selling conditions.
Wintertime brings with it a series of challenges, among them the weather, holiday distractions and lack of interest from buyers.
When the snow thaws though, and greenery re-emerges from the ground, buyers tend to re-emerge as well. The spring tends to be the peak of the market, simply because the timing suits people in general. The weather is more favourable, properties generally can be better displayed, and moves and property closings can more reasonably be managed through the summer months, so for those with families relocating is less disruptive.
According to data, home sales begin in February, with closings peaking through late May, June, July and August- and this has been a consistent trend since the early 2000’s. For sellers then, will likely have the opportunity to engage more traffic and interest in their homes.
Patience is a Virtue
While the springtime may typically be a more optimal time to sell, there will typically be more competition on the market. Sometimes, it may be advisable to wait until the spring market to list, simply because of the flood of buyers onto the market. Often, a property will sell for more, and sell much faster because of volume.
As well, think staging before selling....... I work with great Home Stagers. Drop me a note if you want to talk to one of the designers to see if they are a fit for you.
While the economy does not follow the predictable ebb and flow of the seasonal changes in real estate and in buyer attention, the economy, it’s state and it’s prospects boil down to property values, and consumer confidence. When the economy is under fire, people are nervous about their jobs. There is generally a reluctance to spend, accumulate debt or make major purchases.
The market will tell you what a home is worth. The problem is, during an economic downturn, the market may value your home lower than you had hoped, or than from when you started.
Springtime
In a country like Canada, where there are four distinct seasons, seasonal influences play a large part in creating good selling conditions.
Wintertime brings with it a series of challenges, among them the weather, holiday distractions and lack of interest from buyers.
When the snow thaws though, and greenery re-emerges from the ground, buyers tend to re-emerge as well. The spring tends to be the peak of the market, simply because the timing suits people in general. The weather is more favourable, properties generally can be better displayed, and moves and property closings can more reasonably be managed through the summer months, so for those with families relocating is less disruptive.
According to data, home sales begin in February, with closings peaking through late May, June, July and August- and this has been a consistent trend since the early 2000’s. For sellers then, will likely have the opportunity to engage more traffic and interest in their homes.
Patience is a Virtue
While the springtime may typically be a more optimal time to sell, there will typically be more competition on the market. Sometimes, it may be advisable to wait until the spring market to list, simply because of the flood of buyers onto the market. Often, a property will sell for more, and sell much faster because of volume.
As well, think staging before selling....... I work with great Home Stagers. Drop me a note if you want to talk to one of the designers to see if they are a fit for you.
Or, if you want to talk about any Real Estate matters, give me a call anytime. 604-340-1516
From: www.propertywire.ca
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