Traditional wisdom in the real estate market has been that spring is the best time to sell your home. However, the real estate market has been far from traditional these past two years and homes are selling strongly all throughout the year.
The mindset of waiting until spring still exists with many sellers, and right now, there is an abundance of buyers who are eagerly waiting for inventory to enter the market. Therefore winter may be a worthy consideration to sell your home, with less inventory (aka competition) on the market, and a bountiful bunch of buyers just waiting for any new home to enter the market.
With this in mind, there are a number of reasons you may wish to consider selling your home in winter this year in particular.
Interest rates projected to remain low until spring
Top of our list is the strong motivation for buying right now with the record low interest rates. The Bank of Canada is talking about an April 2022 rate increase.
Less homes on the market
We are in a time of historically low inventory on the market, and historically high number of buyers. With these low interest rates, the buyers are not waiting till spring to shop for their next home.
Buyers are motivated
Buyers are in abundance, and those who are braving the elements of our Canadian winters – are serious buyers who want to buy now. The new year has brought on new resolutions and new job relocations that result in strong demand from buyers.
Your home may show better in the winter
There is nothing like a blanket of snow and a roaring fireplace to make a home seem cozy and like home to a potential buyer. And you don’t have to worry about keeping the grass cut and weeding the flowerbeds.
Many service providers are more attentive
The winter season may slow down for some service providers, and with less overall transactions happening in winter may mean more readily available home inspections, mortgage lenders, movers etc.
The real estate market is in constant state of change, so it is always a good idea to keep in touch with your trusted Realtor ® to provide advice to help you shape your decisions, when the right time to buy or sell.
As a Realtor ® serving the Greater Toronto & Hamilton areas, I have developed some resources for both buyers and sellers in their real estate journey.
FREE Home Seller Handbook:
Easy read, outlining the 8 key steps to selling your home. Click here for your copy:
FREE Home Seller Checklist
Planning and organizing in advance can help the stress of the sale and move of your home, here is a quick checklist to help.
I now offer online booking of consultations into my calendar, so to book your one-on-one session with me visit:
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