Hey – it’s summer time and you didn't move, best to let it sit until the fall when it gets busy again, or is it? The kids are finished school, people are slowing down, the highways out of town are getting nasty, and you’re likely thinking, “Should I just kick back for a bit, relax, and recharge? I mean there isn’t anything going on anyway.”
For those of us who are 'waiting' for the fall or even next spring, here are some interesting statistics. In 2012, in Toronto, more homes were sold in July than in January, February, August, September, October, November or December. That makes it the fifth strongest month of the year and August wasn’t far behind. This graph below belies the myth that the real estate market in Toronto dies in the summer.
Monthly sales numbers for Toronto 2012
The other interesting fact is that many of the tire-kickers are out of town as well. You can recognize the tire kickers and the ones who want to see your home at odd-hours but really aren't serious about buying. The ones who say they will make an offer when prices fall (they have been waiting since 2000 for that moment).
The summer is a great time to get out there and make stuff happen. It’s a good time to get serious with your home knowing that those sellers who are fishing for a price, and those buyers who are waiting for a 2002 price are out of the way. It’s a good time for investors find that hidden gem that wasn’t showing up in the busy market, and it’s a good time to take advantage of some awesome opportunities.
AND, the best opportunity about real estate in the summer is the chance to work closely with your realtor to make that dream deal happen. Let's face it, when the sun is up until 9:00 PM you have plenty of time after work to see homes in the daylight without the rush from work.
Contact me if you are interested in making a move this summer.