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Duggal Team Real Estate
Toronto, Ontario
When Is the Best Time to Sell Your Home in Greater Toronto? There is no one single answer to the timing of selling your Greater Toronto real estate if it is your home. There are a few important considerations to make, and those considerations include the following. The Time of Year In Greater Toronto, real estate is particularly seasonable, with January, August and December typically being the slowest times of year. On the other hand, from historical data, the best months in Greater Toronto to list your home are during the early spring and fall markets in September, February, March and April. This is the time when buyers tend to be more motivated, and a good time for you to be motivated if you wish to sell your home. Your Neighborhood - The Current Competition There will only ever be so many buyers that are looking for your type of home. If buyers can choose from a large selection of homes that are similar to yours, expect fewer home showings and fewer offers. In turn, that will normally mean that you sell at a lower price. On the other hand, if yours is the only three-bedroom house that is renovated and comes with a garage in your neighborhood, or at least in your street, you’ll enjoy far more showings and more than likely you’ll also enjoy a higher selling price in tandem. Similar, Nearby Neighborhoods – The Current Competition For the most part, buyers will generally select two to three neighborhoods that they have a stronger preference for. As such, you should think about the homes for sale in neighborhoods that are relatively similar to your own. A similar neighborhood is not merely one that is located nearby. Instead, a similar neighborhood will include those that have a similar proximity to parks, to services, to restaurants and to transportation. They may have similar quality schools, and they could also be similar with regard to the people that reside there such as single people, working couples, small or large families, retirees, etcetera. How Healthy the Real Estate Market Is Consumer confidence and interest rates have an obvious impact on the prices of homes around the country. Though the Greater Toronto real estate market as a whole has been healthy for a long period of time, as is the case with other types of markets, when something goes up it usually comes back down. So you need to assess the health of the current market in Greater Toronto before you decide if this is a good time to sell your home or otherwise. Your Own Personal Goals and Needs If you have already invested in a new home in Greater Toronto or elsewhere, then the timing to move into that home will most likely override all other things. Somewhat similarly, if you have an upcoming baby, if there’s a sudden requirement for a live-in nanny, if you are getting married or you are getting divorced, these matters will very likely impact your timing as well.
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