When our customers think about downsizing, they often ask about the market and when is the best time to sell their home. The answer is: Anytime you’re ready.
While there are always determining factors that can influence the fluctuations in listing and sale prices, there’s always a market and anytime is a good time to sell. People aften consider these factors when trying to decide when is the best time to list:
Supply and Demand
Is my home or neighbourhood in demand? A home that is situated in a desirable area will likely be in demand, and if supply is limited, this will command a higher price. A home that is one of many similar on the market – i.e. in excess supply - will often sell for less.
Will waiting until X fetch me a better selling price? Pricing is determined by many factors including the neighborhood, time of year, availability of other similar homes and the condition of the property. Because there are so many pieces at play, waiting until the market conditions are 'perfect' can be an impossible task.
Time of Year
What time of the year is best? Different times of the year bring out different buyers. A family with school age children tends to house hunt early in the spring, in order to be settled in before the new school year. However, postponing the listing of a home for this reason may mean missing interested buyers, and setting yourself up for a competitive market (many people hold off until spring – which increases supply).
With strong support, any time is the right time to sell.