When Is The Best Time To Sell My Home?

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Anyone who has sold the home before or is thinking about selling a home has asked themselves “when is the best time to sell my home”?

Usually when they ask that question they are referring to when is the best season or the best month of the year to sell a home?

Obviously what home sellers ultimately want to know is when will they get the most money for their house.

And the best way to do that is to sell in what we call a “Sellers Market“.

That means the seller is in control because there is more demand for homes than there is supply of homes for the demand and the amount of home buyers at the time.

And if there ever comes a time when we are not in a sellers market, even if we were in a balanced market where supply and demand are more or less equal, there can still be times that are better than other times for a home seller to get top dollar.

The following factors contribute to creating or maintaining a sellers market:

#1. Low inventory: this happens when people don’t have a desire or necessity to move at the present time.

#2. Low interest rates: when interest rates go down it means that buyers can either afford to get into the market as a first time home buyer, or buyers who are selling a home to buy a larger home can’t afford to buy more home for the money.

#3. The possibility of interest rates rising in the future: this is basically due to a combination of both of my previous two points.
If home owners have not had the desire or necessity to move, and interest rates are lower than they might be in the near future, it might motivate people to want to buy a new home that is newer or larger than what they have now, before interest rates potentially increase in the future so that they can get more home for the money.

#4. Immigration: in fact that is what has largely fuelled the Toronto real estate market for the past decade.
When more people are immigrating here they need somewhere to live. So the Toronto real estate market isn’t just based on local people’s desire to move.

There is an increased demand and more buyers due to more people who are immigrating here from abroad and needing somewhere to live.

#5. Economic factors: sometimes there can be other economic factors that influence a buyers market or a sellers market and real estate.

If you are thinking of selling in the near or distant future and want to talk about market timing and timing the sale of your home or when would be the best time for you to start preparing your home or list it for sale, I’d be happy to expand on my answers here and talk about specific details and market statistics for you and your area.

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