Very few Listing Presentations go by that I am not asked, “When is the best time to sell our home?”. My thoughts and the reasoning behind them are an assessment that deals with Selling in Toronto, remembering that Real Estate is a truly local business and is completely different as you travel the world….
Toronto is a very Cosmopolitan City, service-based businesses abound and there are two major vacation times in this City’s calendar. Very little happens her in the two weeks before or after Xmas and during the humid Summer months of July and August, Torontonians head to the Lake regions surrounding the City. All one has to do is monitor the traffic in the Downtown during these times and you know that a large number of Torontonians have escaped. Sadly, this is the time when the City is the best. I admit it: I love long summer weekends in Toronto!
These holidays that affect the Real Estate Market in a really good way. A lot of families are so busy during their regular weeks that they have no time to talk about plans and goals for the future. The Holidays allow goals to be set, a lot of them include moving up, down or sideways. My phone really starts to ring in the second week of January and the second week of September. That is when Clients are ramping up to get their homes ready for the market to come (NOTE: in the graph above, the movement starts in the month ahead, though the actual sale might not reported till after the Offer and then removal of the Conditions)
Smart Sellers will bring their houses to the market in September, October, November and January, February, March, April. Beware that you don’t wait till May or June when you think that the gardens will show the best and sell the house. The market gets flooded with other Sellers jumping on that bandwagon, and the competition stiffens.
It may be hard to consider bucking what you think should be the trend for Toronto Real Estate, but historical sales figures show graphs bumping up in the schedule that I am proposing. Not that houses do not sell at other times, but if you want to take advantage of the Prime selling months, get ready for September and January starts to the Market.
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Graph Coutesy of John Pasalis, REALOSOPHY.