If you are looking to sell your home, one of the first questions you will probably ask is, "when is the best time to sell?". With current market trends, your home will likely sit on the market longer in the winter, but each season has pros and cons.
Pros & Cons To Selling In The Spring
Pros:
- The weather is nicer and curb appeal could imrpove when the snow is gone
- It can be easier for potential buyers to drive to your house for viewings
- Bidding wars may be more popular during this time and you may receive over the asking price
- People are recovering financially from the holidays and want to settle down quickly
Cons:
- Competition will increase against other houses on the market
- You may not have the luxury of waiting for multiple bids, which means receiving less money for your house
Pros & Cons To Selling In The Summer
Pros:
- Your property's curb appeal will increase
- Kids are out of school so they can settle into a new home easier
- The days are longer so viewing a home after work could be easier for people
Cons:
- May be more of a competition with other selles
- May be less buyers if they are going on vacation
- Could potentially be more expensive (having to run air conditioning at a comfortable temperature for viewings, cleaning and keeping the pool running, watering and cutting the lawn, etc.)
Pros & Cons To Selling In The Fall
Pros:
- Less competition with sellers so your home could attract buyers
- Buyers with kids are more motivated to close a deal before school starts
- Staging with fall décor can make your home beautiful and show its full potential
Cons:
- The holidays will be starting soon
- It is school season and harder to move kids
- Curb appeal could be harder with leaves falling/having bare trees/messy lawn
Pros & Cons To Selling In The Winter
Pros:
- Less competition with other sellers so buyers will be more serious
- Your REALTOR® could have more time for you
- Buyers may want to close more quickly with the holidays coming up
Cons:
- Curb appeal is lacking if there is a lot of snow
- May not have high offers in the holiday season
- Bad weather can hurt viewings/open houses
- Could be less buyers because they are on vacation
Deciding When To Sell
There is no “perfect” time to sell. Each seller’s case will vary too.
Your home could potentially sit on the market longer in the fall and winter, but that is when you may have more serious homebuyers. Your home could sell quickly in the spring and summer, but you will be up against more sellers and have to work harder to make your home stand out more.
The average time it will take to sell your home will not only depend on the season. Buyers will also consider the location, price and condition of the home. Your real estate agent can help you decide, and explain, which time could work best for you (and your family) and if they are a neighbourhood expert, they will help you bring out the best features in and outside your home with professional photographers and stagers.
Current Real Estate Trends In The GTA As Of February 2019 (with the inventory being higher than the number of homes being sold)
City: Ajax
Average Sold Price: $649,000
Average Time Spent On Market: 21 days
City: Brampton
Average Sold Price: $692,000
Average Time Spent On Market: 22 days
City: Burlington
Average Sold Price: $677,000
Average Time Spent On Market: 26 days
City: Markham
Average Sold Price: $814,000
Average Time Spent On Market: 26 days
City: Milton
Average Sold Price: $711,000
Average Time Spent On Market: 22 days
City: Mississauga
Average Sold Price: $718,000
Average Time Spent On Market: 21 days
City: Newmarket
Average Sold Price: $797,000
Average Time Spent On Market: 30 days
City: Oakville
Average Sold Price: $965,000
Average Time Spent On Market: 27 days
City: Pickering
Average Sold Price: $638,000
Average Time Spent On Market: 21 days
City: Toronto
Average Sold Price: $842,000
Average Time Spent On Market: 20 days
City: Vaughan
Average Sold Price: $944,000
Average Time Spent On Market: 27 days
City: Whitby
Average Sold Price: $639,000
Average Time Spent On Market: 20 days
Disclaimer: prices and dates subject to change. Data was collected from the Toronto Real Estate Board
Check for top agents in the GTA here:
Agent Name: Lucia B. | View Agent Profile>>
Serving Area: Durham, East York, Etobicoke, Markham, Mississauga, Newmarket, North York, Richmond Hill, Scarborough
"I have had the privilege of not only helping my clients buy and sell homes, but I have been a part of many of the major milestones in their lives and feel grateful to be along for the ride."
Agent Name: Joe B. | View Agent Profile>>
Serving Area: Brampton, Etobicoke, Mississauga, Oakville
"Clients have described me as ethical, trustworthy, and hard-working, which I believe are the cornerstones of any successful business."
Agent Name: Paul L. | View Agent Profile>>
Serving Area: Markham, Newmarket, North York, Richmond Hill, Toronto, Vaughan, York
"As a seasoned Real Estate Broker I do what I enjoy most: helping people in an industry and city I have much passion for."
