Ahh, springtime. The snow is melting, the birds are chirping and optimistic thoughts of warmer weather are creeping into our minds. The spring season also marks a very busy time for the real estate industry. If you look at stats from real estate boards across the province, most show a substantially higher number of listed homes and sales during the months of April, May and June. In Hamilton for example, 4,486 homes were sold during these three spring months in 2013, compared to 2,894 during January, February and March. That’s around 55 percent more homes sold during the spring months!
So why is spring such a popular time for selling? For one, your home will show much better. Creating curb appeal during the winter months is difficult. In the springtime you have the advantage of bright green grass, budding trees and a splash of colour from your spring blossoms to help make your home look its best.
Secondly, a spring sale generally means a summer move, the most convenient time for many homeowners to pack up their homes and relocate. Children won’t need to worry about switching schools mid-year, adults likely have time off work for their summer holidays and the actual move itself is much easier during the warm months.
Another reason why spring is such a popular time for sellers is simply because they know there will be plenty of prospective buyers house hunting. If you list your home in December or January, the amount of traffic you see won’t compare to a May listing.
On the opposite side of the coin, you might be planning on buying a home this spring. While it might seem like all the cards are stacked in the seller’s deck, that isn’t always the case. The spring is a great time for buyers to do their house hunting. Inventory is high and it’s much easier to see landscaping, decks and the foundation of a home without a couple feet of snow on the ground. Plus, you can count on being in your new home just in time for summer barbeques!