When Is The Best Time To Sell?

Depending on the province, city or neighbourhood, fluctuations in the market may follow a pattern. Patters can be seasonal and repeat yearly, or they may depend on a transient variable. Generally speaking, Toronto locals move in the spring, summer and fall when weather conditions are most suitable. Because most real estate transactions have a closing period of 30 – 90 days, the most popular times to buy a home in Toronto are typically in the spring and fall. Holidays, extreme weather, interest rate fluctuations, changes to mortgage rules, new government policies, international affairs, and local click-bait news articles also affect buying behaviour.

Almost all houses look better in the late spring and summer, and if curb appeal is a factor, listing during the warmer months is something to consider. While home sales peak in the spring and fall, they happen year-round, so if your goal is to move sooner rather than later, you will still be able to achieve your desired outcome, but it may take a little longer. A mitigation consideration is that though there are fewer buyers from December to February and from June through August, there are fewer listings, which means less competition for your home once it’s on the market.

Selling your home is a considerable disruption, so postponing your sale might make sense if you are concerned about disturbing your day-to-day life during the school year. Though you may be reluctant to sell your home under less-than-perfect conditions, it’s essential not to delay a home sale unless you can afford to sit back and wait. Your agent should help you craft a strategic plan to determine the pros and cons – financial and otherwise – of moving forward with a sale or waiting for a better time to list.

Did you find this useful?