Toronto real estate market is fluctuating by month. But per the recent years’ statistics (with an exception of a large disruption due to the recent epidemic), it has certain patterns to follow: reaching low during December-Jan, and ramping up to a peak in June, then cooling down.
Theoretically, listing to meet the highest demand would be a good strike. Zig while others zagging but still with a lot of demand would be considered good as well. To find out the best time to sell a house in Ontario, you may also have to consider the following:
Your personal circumstance, preference, and priority may cause misalignment and disrupt your ideal time to look into the market
The economics 101 such as supply and demand, overall economic cycle, economic indicators such as interest rate and unemployment rate. The number of new immigrants also contributes significantly to the local market. So does the government policy.
Are you buying a property at the same time? There are a lot more considerations you may have to reckon with before jumping into a decision on whether to buy first or sell first.
Your neighborhood properties. If there are more comparable properties listed at the same time, it may cause longer market time and possible pricing competition.
Benchmark prices. After singling out the abnormal property, the higher sold price will be counted as a new benchmark price. It may motivate more owners to sell. Vice versa, it works in the opposite way as well.
Neighborhood environment changes. For example, the sudden increase of school ranking, a new public transit line, and a new amenity may contribute to higher demand for your property.
Low season buyers may desperately want to strike a deal, but they may be picky bargainers as well. The holiday season may be hard to bring all parties on time for a smooth transaction.
You can’t do much on the property location. Timing thus becomes the dominant factor. You may have weighed every angle. You come out with the concurrent best option. However, the black swan still may prevail and upheaval your plan.
Therefore, try your best to do your homework, then take it easy for the rest.
If you need assistance on when to sell your home, please refer to our most affordable package in the market.