Home sales take place when a motivated buyer and seller are able to agreee on price, terms and conditions that are satisfactory to both properties. There is no specific time of year when that needs to take place.
There is much more activity on the market in the early spring through the months of May and June, simply because most people feel that making a move during the late spring or early summer is easier. For families, especially, coordinating a move in the summer so that the children can start the new school year fresh in September is an important consideration.
It's not a good idea to to dismiss other times in the year as good times to list or sell, though. Taking January as one example, the list below will show that there are advantages and disadvantages related to any moving time.
- for buyers there is less selection
- for sellers, there is less competition
- for buyers, there is less likelihood of ending up in a bidding war over the price of a home
- for sellers, there are fewer offers
- for both buyers and sellers (and sellers are often buyers as well), this is a time when it is much easier to book a moving company or truck rental. You will also find that professionals who can assist you with the move - real estate sales representatives, mortgage brokers and lawyers - are not as busy as they are in the spring and they can spend more time on your behalf making sure that everything works out exactly right for you.
Regardless of the time you choose to by or sell a home, it's important to have someone working for you who has your interest s at heart and is willing to go the extra mile on your behalf. Please see BobFoster.ca for letters of recommendation from my previous clients.
- Bob Foster