Selling Your Home During The Holidays

I came across an interesting article regarding selling your home in the holiday season and wanted to share it with you.

There are 4 Seasons in regards to weather and there are 4 seasons in regards to selling a home.

Winter, Spring, Summer, and Fall…Each season brings different results when buying and selling a home in Canada. Lets examine the details of Buying and Selling in November and December.

The Winter season starts in November. November and December are usually they slowest months of the year for real estate. There are less homes sold, but prices can be higher or lower than the yearly average depending if the market is going up or down. In 2009, the Canadian housing market was very strong and there was an above average amount of home sales in November and December so prices were higher than the yearly average. Lets look at the Toronto Real Estate Stats from 2008 and 2009:

Year………………….2009………………….....2008
January……….2,670… $343,632………5,075… $374,449
February……..4,120… $361,305……….6,015… $382,048
March………...6,171… $362,050……….6,631… $380,338
April…………..8,107… $385,641……….8,762… $398,687
May…………..9,589… $395,609………..9,411… $398,148
June…………10,955… $403,972……….8,600… $395,866
July…………...9,967… $395,414……….7,806… $371,427
August………..8,035… $387,921……….6,318… $364,886
September…...8,196… $406,877……….6,424… $368,549
October……….8,476… $423,559……….5,155….$352,974
November…….7,446… $418,460……….3,640….$368,582
December…….5,541… $411,931……….2,577....$361,415

There are the number of homes sold and the average price, per month, for the Greater Toronto Area. The average price for a home for sale in 2009 was $395,460 and in 2008 it was $379,347. In 2009, the average price for a home for sale in the GTA was higher than the yearly average in November and December. This is not “normal”. In 2008, the average price in November and December was lower than the yearly average. (In 2007 – they were higher as well, but in 2006 they were lower).

The key factors that lead to less home sales in November and December are:

Weather: The colder temperatures can keep buyers at home. There are less open houses, and because of the cold temperatures, there can be snow, ice, as well as other weather related factors.

Supply: Less homes are listed in November and December, and this results in less choices for buyers, and ultimately less sales.

Holidays: Thanksgiving, Christmas, and other Winter holidays can are usually on the minds of would-be buyers and sellers. Home hunting and offers take a back seat to family, friends, and vacation time.

It can be a good time to sell:

Despite the fact that most people say “why would you list your home in November and December”, it’s not a bad time to sell. As shown above, the average house price was higher than the yearly average in 2009 and 2007. Basically “you never know”. However, in Canada, we have seen a slow down in sales since July and this could result in lower prices. However, despite the slow down in sales, prices remain high. Mortgage rates are at an all time low. 2010 could be a great time to get a great price when you sell your home. Time will tell.                                               (Info from propertysold.ca)

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Brad Stevenett

Sales Representative
905.845.9180 - Office

905.407.7381 - Direct

Email:         brad.stevenett@century21.ca
Website:    www.bradstevenett.com

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 CENTURY 21 Miller Real Estate Ltd., Brokerage, Independently Owned and Operated

Cell: 905.407.7381 | Office: 905.845.9180 | Fax: 905.845.7674

Oakville Real Estate, Burlington Real Estate, Milton Real Estate, Mississauga Real Estate
www.bradstevenett.com      brad.stevenett@century21.ca

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Brad Stevenett

Brad Stevenett

Sales Representative
CENTURY 21 Miller Real Estate Ltd., Brokerage*
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