How Long Will it Take to Sell My Home in 2022?

08.11.22 | Selling

As Toronto’s housing landscape becomes more balanced, homes (on average) are spending more time on the market than they used to. As a result, some sellers are having second thoughts. 

That being said, selling your home in any market condition comes with a handful of variables that can impact your sale differently than others. Elements like unique property features and external economic or locational factors can all influence buyer interest and volume. 

If you’re considering a home sale in the near future but have concerns about how long your property will spend on the market, we have some helpful insights that may clarify a few things.  

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Mid-Year Market

Over the past decade, Toronto’s diverse and vast housing market has been anything but ordinary. From a steadily growing demand during the 2010s to an outright buying frenzy in 2020 and 2021, real estate in the city has been constantly evolving for some time. While today’s market conditions are a little more balanced than in previous years, truly understanding the current market requires some contextual analysis. 

Back in 2020 during the early stages of the COVID-19 pandemic, the Bank of Canada (BOC) slashed their target interest rate in order to prevent long-term economic damages. The freshly lowered interest rates suddenly made mortgages extremely affordable for Canadians, flooding the market with buyers. Almost overnight real estate in Toronto became hyper-competitive. Homes sold for record-high prices and often spent very little time on the market; in some cases, less than a day. 

Now, in mid-2022, interest rates are slightly higher than they were before the pandemic. As a result, far fewer buyers are entering today’s market, causing the previously competitive atmosphere to cool off. 

Should I Worry About Terminated Listings?

If you’ve been tuned into the Toronto real estate market in recent months, you may have seen some stories in the news or on social media about a rise in “terminated listings”. These articles have been causing some sellers to panic, as they see other homes entering the market, not selling and assume the homeowners are forced to stop trying.

In reality, 99% of terminated listings are really just price adjustments. This occurs when homes are removed from the market and re-listed the same day at a new price point. So there’s very little risk of listing your home only to pull it off the market completely down the line. 


Getting ready to sell? Preparation is key. Check out these blog posts to learn more. 


The Long and Short 

At the end of the day, determining how long your home will take to sell before entering the market is a bit of a guessing game. Although the competitive buying conditions that led to same-day sales and frequent bidding wars aren’t as prevalent today, demand for homes in Toronto is still high and properties are selling for strong prices. 

Selling Strategies 

If you have concerns about your home staying on the market longer than you expected, there are some strategies you can incorporate to optimize your home for the fastest possible sale. 

Of course, staging your home for sale is always a good idea regardless of market conditions. Great staging tells a story and allows potential buyers to truly envision themselves in your home. There’s also strong data suggesting staged homes sell faster than their less-prepared counterparts. 

Next, a robust marketing strategy including digital and traditional materials can help get as many eyes on your home as possible. As part of Sotheby’s International Realty Canada, we market our homes in a variety of leading lifestyle and real estate publications around the world – capturing the attention of both domestic and international buyers. 

Finally, pricing your home strategically can go a long way in turning the heads of potential buyers. Your real estate agent can guide you through the strategic pricing process to help you get the most for your home. 


Looking for more information about Toronto’s ever-evolving housing market? We’ve got helpful resources you may be interested in. 


The Right Agent Makes A Difference

In a robust market like Toronto, it’s important to be thorough in your research before you hire a real estate agent. This is especially true as a seller. Not two agents are the same, and you’ll want to work with someone who has the right toolset to best support your home sale. 

Beginning with pre-listing preparations, thoughtful staging and cohesive marketing, a great real estate agent will ensure your home captures the eyes of even the pickiest buyers. Plus, strategic elements such as pricing and negotiations also make a big difference in landing fast, high-quality offers on your home. 

Ready to sell your Toronto home? As distinguished local agents, we can help ensure you have a smooth selling process with exceptional results. Get in touch with our team.