Selling Your House: When Will You Get The Best Value?

People decide to sell for a wide variety of reasons. It could be a work related move, expansion to make space for new arrivals, or less need for space due to a reduction in the number of family members living at home. Some people just fancy a change every once in a while and others decide to cash in when they think they’ve ridden price rises as far as they can.

But is there a good or bad time of the year to sell? In most cases certain times of year are definitely more favourable than others.

Should I sell my house in the Spring Real Estate Market?
The Spring market is a great time to list your house for sale. You will find that this is the most traditional time to sell a house. Therefore, the pool of buyers who are looking may be at its largest. You will, of course, get more money for the sale of your house if you have the most people looking at it.

The downsides to the Spring Real Estate Market
You are not the only seller who is aware of the importance of the Spring Real Estate Market. You may find that there are many houses for sale at this time of year. In markets that are slowing down in many locations, this may drive prices down further.

In addition, there may be many 'lookers' at this time of the year. You will probably find that the number of noisy neighbours and people who are just window shopping are at their peak at this time of year too.

What about selling my house in the Summer?
Summer is not as busy as the Spring Real Estate Market. Many buyers have already purchased their new homes and are planning on moving during the Summer, however, some have not. You may find that there are leftover buyers who have not yet found their dream houses. Maybe yours will fit the bill.

There may also be less inventory on the market, as many houses will have sold during the Spring Real Estate Market. If there are fewer houses to look at, there is an increased chance that yours will sell at a good price.

Fall Real Estate Market
The Fall is probably the second busiest time in real estate. Kids are back in school, vacation time is over and many people use this time to look for new houses. Often the buyers will target Christmas vacation time as a good time to move. You will find that this market kicks in right after Labour Day and runs through Thanksgiving.

You may also find that this is a good time to sell your house. There will probably be more buyers who are ready, willing and able to buy your house during this time of year than during the summer. However, inventory may jump slightly.

One pitfall to be aware of is that Winter is coming. If you are selling your house during the Fall Real Estate Market, be sure not to overprice it. If it does not sell by Thanksgiving, you may be forced to reduce the price more that you would like.

Is it possible to sell real estate during the Winter?
Absolutely! There are many good reasons to sell your house at this time of year. If you find that it is necessary to do so, don't panic. It is essential to price your house correctly at this time of year, however, there will be a limited amount of buyers, so make sure that they don't overlook your house.

Although there will be fewer buyers at this time of year, you can be pretty sure that they are serious, qualified buyers. Most people just don't have the time to be window shopping or looking at houses they have no intention of buying during the holiday season. The same will hold true for the cold month of January. If a buyer makes an appointment to see your house during this time of year, he or she will most likely be a serious buyer.

In addition, your house may be decorated for the holidays and this is a great time to show potential buyers how warm and inviting your house is.

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John Siarkas

John Siarkas

Broker
CENTURY 21 Heritage Group Ltd., Brokerage*
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