So you're thinking about selling your home? Now you need to know when's the best time to do it. In this episode of Homebuyer's School, we talk about the best time of year to sell your home and how selling price is affected by time of year.
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Hi everyone, and welcome to another episode of Homebuyer's School. Today I'm joined by Kevin French with Remax Realty and today the question that we're going to answer is:
When is the best time of year to sell/list my existing home?
Best time to sell a property would be in the spring market. That's because of the way that [00:00:30] the properties going to show, everybody seems to have a bit more time.
Christmas is over with, the snow's gone and people are ready to shop, so it makes sense for them to get out there and be looking at that time.
It also allows them to see the property in its full form, I guess.
The roof can be properly inspected, the backyard, you can see that it's grass not mulch or if the grass is dead or whatever it may be so people get a better idea of what they're actually purchasing.
Of course in the summer, people are typically on vacation, and then the winter market [00:01:00] is obviously slower, just with holidays and the snow.
But spring is when the properties are going to show the best and when people get a good idea of what they're actually purchasing.
Does the time of year affect the selling price of the house?
Yeah, the price in the spring market is going to be closer to what, assuming it's priced competitively, it's going to be closer to what the buyers are willing to pay, but in the winter the property might get a little bit stigmatized, it might just sit there for a longer period of time and [00:01:30] then, all of sudden the price may need to be decreased for someone to see that the value is there.
So are you saying, let's say I am about to purchase my home in the fall, or in the winter, are you saying that I really should wait until the spring to kick off, to make sure that I sell my house?
Well, it depends on where you want to live, because in the spring market, you're also competing with more competition, if you're selling.
If you're looking to buy, you're going to have more options, but you're also going to have more competition. So you might go find the perfect home, [00:02:00] and then someone else may think it's the perfect home as well.
Karl Yeh: Oh, okay.
Kevin French: And then you're both trying to buy the same property.
So in the spring, it's the best time to sell, but there's a lot more competition during that time.
Kevin French: Correct. Right.
And so I'm sure all the other real estate agents would be pretty much recommending kind of the exact same thing?
Yeah, the spring market, if you're looking to sell it is the best time, if you're looking to buy, it's also a great time.
But provided you put the work in and the property shows as well as it possibly can, which the spring market offers you that opportunity with [00:02:30] the climate I guess, I should say.
Karl Yeh: Okay.
Kevin French: Yeah, spring's the best time.
Karl Yeh: Okay. Do you have anything else to add?
Kevin French: I think it goes without saying that fall is also a great time.
Karl Yeh: Okay.
Summer everyone's on vacation, winter it's, we're snowed in, so those are the slower times.
Perfect. Well thank you very much for joining us and we'll catch you next time.
Let us know if you have additional home buying or selling questions that we can answer by submitting them in the comments section below.
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About Kevin French:
Kevin French is a Calgary and area based realtor with a client focus. He specializes in a stress free home selling process that is built on customer service. Understanding that your home is one of your largest investments, Kevin employs a marketing mix that ensures you will maximize returns on your home sale. Diligent market research coupled with an in-depth understanding of the Calgary and area markets, allows Kevin to pinpoint the perfect price for your home.
In addition to perfect pricing, Kevin offers a suite of additional services such as professional photography and an interior designer to ensure your home shows its best. Kevin French has become a trusted name in real estate because he is results driven and works closely with his clients to produce the best results.