Roll up your sleeves home buyers and sellers, the Fall market is upon us. Labour Day to Halloween is high time for house hunters and home owners looking to make a move before the end of the year.
As you can see in the chart provided by the Toronto Real Estate Board, the volume of new listings hitting the market in September is over 15,000 as opposed to just over 11,000 in July and August.
What does this mean for you?
If you’re in the market to buy, this means that you have access to more inventory. You have better selection and a higher opportunity to find the home that best suits your criteria. If you’ve been fed up with bidding wars or disappointed in the properties you’ve been seeing, now is the time to get active. This is historically an ideal time for buyers because compared to the Spring market, the Sales-to-New-Listings Ratio is more in your favour! In a nutshell, more inventory, more choice, and slightly less heated. That being said, still prepare for war. Get a good Realtor to represent you who gets what you’re looking for and can quarter back your purchase.
If you’re in the market to sell, you want to hit the market between now and the end of October. There is a slump in the market that happens right around Remembrance Day. Most of the buyers who have been looking want to move before the end of the year. Please speak to an expert to get guidance on the following 6 steps:
2. Home Preparation
3. Go To Market Strategy
4. Sales and Sales Follow Up
6. Post Contract
If you do everything correct, the result should be a premium price on the sale. We don’t achieve miracles, but we have commanded 100% of asking price this year on our downtown condo listings (me brushing my shoulders right now) and we’ve reached new highs on almost every street we’ve sold on this year in SMAP (Scarborough/Markham/Ajax/Pickering).
Take advantage of the seasonality of the market and if you’re thinking of getting a value for your house, now is the time to speak to an expert.
September is upon us. Cottages are closing, The Ex will be over soon, Summer BBQs coming to an end and Patio season in its last lap. More time for you to surf realtor.ca and more time for you to consider that move!
As always, for everything real estate, reach out any time.