When is a good time to sell your home?
A recent analysis examined monthly sales activity in the Greater Toronto Area for the last 18 years. By reviewing sale prices, the percentage of list price to sale price (how much the house sold for when compared to the original price), the days on market and the average length of time it took to sell a home each month, this analysis revealed some startling facts.
The big takeaway: If you’re looking for top dollar, "Spring" isn’t always the best time to sell a home depending on location.
For instance, if you are selling a house in the Pickering, Simcoe, York, Mississauga, or Aurora areas, you may want to wait until the Fall, where the premium for waiting to sell will net you an extra $8,600 to $29,400, on average.
However, property owners selling a house in Metro Toronto should stick with listing in the Spring, when the average premium for listing at this time will net you an extra $33,700, on average.
As we mentioned in our 7 Selling Strategies page, Step #4 (analyze current market dynamics and trends), there isn't always a "right" time to sell. Real estate prices in the GTA are strong year round. With the right strategy, price and work ethic, One Percent Homes will get you the best value at any point during the year.