Real Estate Talk:
The Best Months to Sell
Windows of selling opportunity throughout the year
By Joseph Marovitch
Often, I am asked when is the best time to place a residential property on the market. If one must sell, any time is a good time if the price is at market. However, there are busy months in real estate and not so busy months. Some sellers and brokers like the not so busy months because of several reasons such as:
– The buyers that come visit in the quiet months are serious buyers otherwise they would be on vacation.
– There is less competition. When the seller has an open house, they are one of the few. There are not many open houses to see.
It can be argued that the quiet months are good months however it is better to market your property in the busy months when there are more buyers and more property for sale. More buyers drive the price of your property upwards. More sellers mean more buyers are generated, therefore more visitors come to your property. If there are three open houses on the same street that means all three homes get the visitors. A property for sale requires as many visitors as possible to sell quickly and at the highest price possible.
If one must sell, any time is a good time if the price is at market.
Quiet times in real estate include late summer during construction holiday and holidays over the year. Most people do not want to shop for property during Christmas.
The following are the best months to place property on the market:
February to April – The holidays are over, everyone is back to work and if you buy a house in late winter, you can plan a move in the spring when the snow is melted.
May to mid July – Summer time is when a home shows best. Spring is a time of excitement and everyone is still available to visit a property for sale right up to the middle of July.
September to December – People go back to work after the summer vacation. They discussed a move over the holidays and now that everyone is back home and work, it is time to get serious and go house hunting.
Quietest times of the market are:
July 15 to August 31 – Summer vacation and workman’s holiday
December 1 to January 30 – People are away on vacation and with family.
In the end, there are pros and cons to selling off-season. More effort is required since you must have open house during the holidays and you can get fewer visitors but the ones that come are serious.
Have a great week and for questions email firstname.lastname@example.org or give me a buzz at 514 825-8771.
State of the Market
It is an interesting time in politics and therefore the real estate market. The new US government that will be led by Mr Trump plans on spending a trillion dollars on US infrastructure, another trillion on a very long wall, more on hiring additional police and border guards. All this spending will increase jobs and income to the common household, however it will also cause inflation and rising interest rates.
With rising interest rates and the new Canadian mortgage rules that are in effect, it may be difficult for the average person to get a mortgage and buy a home. If this comes to fruition, home prices will eventually decrease. As I am always the optimist, there will come a time when the bubble bursts and real estate will be an even greater investment.
Time tells and heals all.
Have a great week!
Image: Andrew Burlone
Joseph Marovitch has worked in the service industry for over 30 years. His first career was working with families from Westmount and surrounding areas, hosting children between the ages of 6 to 16 as the owner and director of Camp Maromac, a sports and arts sleep away summer camp established in 1968. Using the same strengths caring for the families, such as reliability, integrity, honesty and a deep sense of protecting the interests of those he is responsible to, Joseph applies this to his present real estate broker career.
Should you have questions please feel free to contact Joseph Marovitch at 514 825-8771, or email@example.com