What Time of the Year Should I List My Home?
By Penny on Aug 13, 2014
As all industry experts know, selling a home is influenced by many different factors that can be manipulated in order to maximize profits in the shortest time period possible. Finding the right realtor to sell your home is the first step, but choosing the right time is just as critical, even if it means holding off on posting that ‘for sale’ sign.
According to Canada Realty News, the experts at HGTV and the Toronto Real Estate Board (TREB), the best time to sell your home is in the late spring or mid-fall; October saw the most sales in 2013 in the Greater Toronto Area.
Practically speaking, people are less inclined to house hunt during vacation seasons (i.e. Christmas and summer vacay). The potential for a quicker closing date is higher in the spring. Impatient sellers who list their homes in the middle of the winter may be at risk of losing potential gains in the long run.
Although, if you do decide to sell in the dead of winter, you are basically guaranteed your realtor’s full attention and fewer competitors. There are homebuyers who will purposely house hunt in the winter because most people who list in the winter really want to (or need to) sell their homes.
Before you run out and list your house, bear in mind that there is a small chance that listing your home in a peak buying season may mean lowering your asking price because of the amount of competition. Depending on your personal goals, this might not be a bad thing; many people who built equity on their current properties can afford to sell for a little lower.
Understanding the market and economy is helpful, which is why it’s so important to hire a realtor that has strong roots in dealing with these aspects when selling your home. Underestimating the importance of qualified realtors is one of the biggest detriments to home sellers, read more about how to find the right realtor here.
In the end, it all comes down to what works best for you. If you need to sell in December, don't wait until spring. If summer happens to be the best time for you to list, then do it!
