You may be looking to sell your home, but not sure if this is the right time? Well now may be the time. But don’t let me or your friends dictate when its the right time to sell your. Instead talk to your Real Estate agent. Now may be the prime time to sell your home, even though we’re in the middle of a winter or simply your Realtor may suggest to hold off until Spring or Summer time.
One thing that’s certainly always true is that Real Estate is subjective to supply and demand – therefore creating multiple cycles in the market throughout the year. There’s the sellers market, where the demand is higher than the supply due to a shortage of homes on the market. The other side of the seller’s market is a buyers market, where there seems to be an abundance of homes on the market and the competition is fierce, therefore creating a perfect opportunity for buyers to wheel-and-deal.
When is the best time in terms of seasons to sell your home?
Nobody really knows for sure, but spring markets generally tend to be hotter than most other times of the year.
Flowers are blooming again, gardens are up and running and people want to be outside again – which creates a perfect opportunity for those looking to buy a home. The downside of the spring/summer market is that there’s way more competition – buyers and sellers.
Seasonality is only one aspect of buying or selling a home, but one should always give it fair thought when trying to find the best strategy on buying or selling a home. For example every year there are many homes for sale in Montreal, but the weather and the season always play a factor. Montreal is known for snowy and cold winters, while summer and spring times are a gorgeous where many spend their time outdoors.
So, does one want to spend their summer prepping and selling a home? Or is winter a better option as the market is less busier and there is far less competition out there?
Nobody really knows and every case is unique in its own way, but two things are certain: one should always keep seasonality in mind and consult a Realtor when buying or selling a home.