When to Sell Your Home?
Tuesday Aug 29th, 2017Share
If you are thinking of a move in the near future, you’ve likely wondered when is the best time to sell. In fact, as a REALTOR®, I get asked this question a lot!
Before I provide some insight into this popular question, let’s take a look at the current real estate market in Southern Ontario:
To date, home prices are at an all-time high in Mississauga and the Greater Toronto Area (GTA).
Interest rates and the cost of borrowing are at historical lows.
Inventory levels across Mississauga and the GTA are scarce across all price points.
As a seller, these current market conditions are certainly favourable for the best possible outcome for you. But, don’t feel rushed into selling your home if you are not ready. I always reassure my clients that the best time to sell is when it’s right for you!
Let’s take a look at some common misconceptions about the real estate market:
“I need to wait until the spring to put my home on the market.”
Not so! The new reality is that the spring market comes early in January and home sellers can benefit greatly from this pool of interested buyers when everyone else has decided to wait until April.
“Summer is the best time to put your home on the market because the weather is nicer.”
Not quite! In fact, in the GTA, July and August are historically the slowest months, just behind December. Most homes have closed by the end of June and buyers are now interested in cottage trips, vacations, BBQs and fun.
“Don’t bother listing your house in November or December. It won’t sell at that time.”
Not always! Listing in November and December can work in your favour. With fewer homes on the market at that time of year, serious buyers have less choice. If a buyer is out home shopping on December 15th, you can bet they are motivated!
What does this all mean to you? It means you can relax and take the time to consider all of your options. As a real estate sales representative and trusted partner, the last thing I want clients to do is to make a rushed decision that they may regret down the road. Listing your home for sale is a big step and the best time to sell is when you are ready.
If you or someone you love is considering a move in the near future, please feel free to contact me for a free home evaluation and market assessment. Together, we can review your home buying and selling goals so you can make an informed decision that you feel confident about.