Is the Month of May Really the Best Time to Sell a Home?
Most real estate articles and blogs say that the best time to sell a home is during spring and that the best time to buy one is during winter. If this is the case, won’t the home sellers and home buyers have a hard time meeting each other’s needs?
A lot of home sellers who choose to sell in winter do so because they are planning to move to a new home in spring. Know too that selling during the cold winter months can be quite smart because there are fewer properties on the market during that time of the year; hence, there is a bigger probability of securing a sale faster. The downside to this is that some home sellers may feel compelled to settle for a lower price to make sure that they’ll be ready to move to a new home once the season turns.
Observe How the Market Behaves
Given the above, it is true that home buyers typically flock the real estate market come spring. This is why real estate agents usually advise home sellers to try to wait until spring before they sell their home. Another factor is that families with children are more motivated to be done with finding a home in spring because they want to be settled before the new school year starts. Don’t forget too that homes with better curb appeal tend to sell faster for a higher price and spring is when you can showcase your home’s beauty in all its glory.
Best Time to Sell a Home – Is it Really May?
Generally speaking, May is the busiest and yet most relaxed time for the spring real estate market. It is indeed the time when the marketplace is the most crowded, with home buyers wanting to get the best home they can buy. Recent statistics support this, showing that there is an average increase of 75% for homes for sale during May as compared to December.
No Guarantee of a Successful Sale
Note that even with more home buyers on the prowl, there is no guarantee of having a successful sale in May as the statistics for actual home sales in May does not match the increase in listings. What’s good to know is that on average, home sellers who successfully close a deal in May sell their homes for a far better price as compared to those selling in December. This is largely because May also brings with it more home buyers who are willing to join a bidding war to get the home of their dreams. This amounts to selling for between 9% to 18% more than December sellers, an amount that is equivalent to $71,307 to $158,044 – definitely not chump change!
Sell Better with the Help of Real Estate Agents in Toronto
Go for a listing agent who’ll look out for you and truly knows the market. If you want to make sure that you’ll get the best deal out of selling your Toronto home, you can look up the commission fees for real estate agents in Toronto to have a general idea of how much a typical agent will get. This way, you can factor it in your pricing. If you use feeDuck, it is possible to find 1% commission real estate agents in Toronto who also happen to be one of the top performers in their area. Contact us today or visit feeDuck for Canada to know more!