Real Estate Talk:
Fall market preparation

How to prepare for when the wheels start turning again

By Joseph Marovitch

August 1, 2024

There are certain months of the year when the real estate market wheels move quickly. Of these months, some are busier than others. People always buy or sell through the year due to circumstances, such as relocation due to a job, changed finances, downsizing due to kids moving out, and upsizing due to babies being on the way. Then, there are speculators/investors buying with cash when rates are high or buying on credit when rates are low.

… summer is the best time to show a property when homes show best with sunshine and greenery… preparing a property to sell and showing before the Fall is the only way to get a running start.

However, the average buyer purchases after or before holidays. Mid-January to March will find the market active. This is the time after Christmas and New Year’s when people return to work, review their assets, and purchase a property in mid-winter with a spring moving date.

May, June, and July are another bump in activity when spring is in the air and people come out of their homes and visit open houses, check the market, buy a property, and arrange a summer move which is easier and less expensive than a mid-winter move. However, once the construction holiday commences between July and August, the market slows down.

Then there is September and October, which, in this broker’s opinion, appears to be the busiest. Buyers and sellers have had the whole summer to lounge by the pool and talk with their friends and family around the BBQ about moving after the holidays. They have been checking real estate in the local papers, driven by a few for-sale signs, maybe attended a few open houses, and intend to put plans into action when September comes.

The issue for sellers is summer is the best time to show a property when homes show best with sunshine and greenery. So, even though the market is quieter in August, preparing a property to sell and showing before the Fall is the only way to get a running start. Keys to prepping are cut grass, cared-for gardens, cosmetic repairs to fences, balconies, and windows, and a little paint here and there if needed. Finally, a “for sale sign” in front of what looks like a dollhouse. This will be the photo the broker uses for the listing on Centris during the Fall.

‘If you are not sure how to prepare your home, ask your broker, who may have experience in home décor or can refer an interior decorator. Professionals know what is best and most neutral to appeal to all tastes.’

Fall is colourful and windy, with cold currents in the air. Knowing the Fall conditions helps in preparation. If Fall is cooler then prepping the house to be as warm and inviting as possible is a good idea. Any property for sale should be kept tidy for showings and open houses.

To prepare for the Fall, simply arrange the furniture to make the room appear bright and spacious. Place a few blankets on the couch. If you are going to create any aromas in the house, make sure it is baked bread, cookies (not peanut butter cookies), or coffee, not fish or cigarette smoke. Turn on the electric or gas fireplace. The seller wants the house to both wow the buyer and have the buyer feel as if they are already home.

If you are not sure how to prepare your home, ask your broker, who may have experience in home décor or can refer an interior decorator. Professionals know what is best and most neutral to appeal to all tastes. We tend to arrange our lives according to our individual tastes, however, buyers all have different tastes, so it is best to remain tasteful yet neutral.

Should you have questions or comments, please refer to the comments section at the bottom of the page. Also, to view past articles, click here.

Next article: The perfect property

State of the market

There is optimism in the air. The Canadian economy has grown more than expected according to a recent article in the Financial Post written by economist Naimul Karim. With a growing economy, we may very likely see another interest rate cut. Another cut will help increase demand as buyers will have lower interest rate mortgages and it will help sellers who will see their property value rise.

‘In the microcosm of Canada, the real estate market and economy are looking up. In the global view, caution should remain.’

There is renewed optimism for future economic stability as the circumstances in the U.S. Presidential election recently had an interesting turn of events. However, war in the Middle East has escalated with Hezbollah attacking Israel and vice versa. As well, the U.S. attacked Syria and Iraq. These events that the World wanted to avoid have yet to affect the North American economy so let’s hold our breath and hope they do not. In the microcosm of Canada, the real estate market and economy are looking up. In the global view, caution should remain. However, a feeling of optimism goes a long way in creating a path to prosperity.

Have a great week!

Let’s not forget that people with cancer are vulnerable too!

You are invited to keep giving to the following organizations since it’s now more important than ever to support cancer research! Click on the logos below to find out how:

Image: Andrew Burlone

Other articles by Joseph Marovitch
Other recent articles