When is the best time of year to sell? Many sellers ask themselves this age-old question in hopes of gaining the best price for their home. At rennie, we see hundreds of real estate transactions every day. This is our business, and we’re pleased to provide you with industry insights to help you sell your home faster and at a higher price than its competition. Here, we highlight some of the market’s seasonal trends.
Overall, the busiest market is in the spring in the months of March, April and May. This is when we see the highest number of listings and sales. But it doesn’t necessarily mean that homes sell for more at this time. In the summer months the market plateaus; June, and July and August are quieter months, picking up again in fall in September, October, and November. Historically, mid-November and December are quieter, but in the past couple of years, the winter months have been proven to remain steady.
But what truly makes the biggest impacts on the sale of a home doesn’t come with the seasons. Assessing each home in each neighbourhood on a case-by-case basis is the most important thing to do. Current market factors, such as the number of listings on the market, can affect the sale of your home. It’s imperative to keep an eye on current market conditions even in Spring or Fall when the market is said to be hottest.
“Fewer listings, relative to the number of sales, can drive prices up”, says our Managing Broker, Gerald Soong. This means that Summer and Winter are not poor times to put your home on the market. There is not a textbook answer on the best time to sell your home. “The real answer is, it depends!”, Gerald says.
It is important to consider all current market conditions and trends. Our rennie advisors have access to the city’s best analytics and market intelligence and can help you make the right choices about selling or buying a home.