It might sound cliche, but I’m a strong believer that the best time to sell is when you need to move. While generally speaking there are certainly times of the year when the market temperature is hotter and colder for sellers, the fluctuation on your final sale price shouldn’t be drastic enough to hold up your life if the right opportunity comes your way. Whether it’s the job opportunity in another province, your long awaited dream home happens to hit the market, or your family starts to grow.. when its time to move, the difference in sale price likely won’t out weigh the immediate comfort a new home or life opportunity might bring.
But what if you could have it all? Time the market perfectly, get the highest potential price for your home, and move into your dream home in one foul, stress free swoop. If the stars were to align, the best time to list your house for sale is undoubtedly EARLY spring. Every year record high sale prices on the MLS occur in the months of March, April, and creeping into early May.
Here’s why:
Inventory levels. With snow still being on the ground in March and April, most sellers have the preconceived idea to list when yards and exterior are looking their best, but what they neglect to realize is that many sellers share the same sentiment. So while keen buyers are trying to beat the spring rush, the number of homes on the MLS is far less than the peak of the spring market.
With lower number of listings, but very high buyer demand, homes during March, April and early May will often sell for a premium price. Subsequently, with an increased number of listings on the market mid-May and June, there is far more competition out there listing wise. So while your yard is pruned and looking it’s best, there are a lot of other options for buyers to choose from, and they tend to be a lot more picky because they have options.
Year in and year out, I’ll see a home sell in late spring, only to look back on the MLS history and find a similar home in the same area in early spring that sold for as much as 2.5% higher to as much as 4% higher just due to listing inventory levels. In fact, 46 out of the 60 different MLS areas within city limits have recorded the highest sale price ever during the early spring months. So if you have the opportunity to time the market, fabulous, but if the right opportunity comes your way in a different month don’t hesitate to make the move. There are a variety of reasons to sell in any season, and always remember that serious buyers never stop the hunt.
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