No matter why you are ready to list it, selling your house can be a complicated affair. Why make it any more difficult than it needs to be?

Whether selling your primary home as you downsize or selling a secondary property to make room for new investments, choosing the right time to sell is essential for streamlining the process.

Maximizing profits and the selling experience are heavily affected by the state of the market, so you want to make sure you enter the market at the right time.

When is the best time to sell your house? Find out more today.

National Statistics: When you’ll see biggest profits

According to averages seen across the country, choosing the correct month and day of the week when listing your house can affect your profit margin.

Homes that sell at the beginning of May sell faster and for more money than houses at other times of the year. This trend has been seen for several years and does not seem to be changing just yet.

Additionally, houses listed on Saturdays get more views than houses listed on other days. Most agents aim to get their houses onto the market on Friday or Saturday so that they can take advantage of people’s free time on the weekends for showings.

Investigate Local Markets

Getting an idea of when the best time to sell your house is from the national market is good for general ideas, but your local market can be a great informant as well.

Many of the factors that affect when the best time to sell is more specific to the area where your property is located. Such factors include: 

• Mortgage rates
• Tax incentives
• Job growth
• Seasonal changes
• Tourism seasons
• Rental market changes

Talk with local agents and experts about your market or do some research online to determine when sales seem hottest in your region. The dates may be as early as April and reach through the end of the summer, depending on where you are located. Adapt to what fits your area so that you can make the biggest profit on your sale.

Pay attention to the season

Different types of buyers may be shopping during different seasons. The market changes from season to season because of changing trends, so listing when your home type will be hot on the market is a good sales tactic. Continue Reading…

By Penelope Graham, Zoocasa

Special to the Financial Independence Hub

When it comes to nuggets of real estate wisdom, a persistent adage is that one should avoid selling in the winter at all costs:  after all, bad weather, limited sunlight and poor driving conditions don’t inspire shoppers to peruse open houses.

But while it’s a fact that the winter housing market is a slower one — there were 25 per cent fewer sales in the Toronto real estate market in January 2017 compared to the previous May —  having to list your home in the new year doesn’t necessarily mean compromising on your profits.

In fact, due to a few seasonal phenomena, listing your home for sale in January can translate to a higher sales price; here’s why.

Winter buyers are extra motivated

Just as January sellers are likely listing for a reason, early-winter buyers are also likely driven by a sense of urgency. In fact, a small but persistent bump in activity is typically seen in the weeks following New Year’s Day, as buyers who shelved their holiday home purchases jump back into the market.

January also tends to be a busy season for mortgage pre-approvals, especially for organized buyers seeking every advantage in preparation of the spring market. However, once these buyers have confirmed their maximum buying power, they may be tempted to take a preliminary look at what’s available now, including your listing.

“The fact is, if you’ve waited until spring to get a mortgage pre-approval, you’re already late, and there are a few real estate market factors that will work in your favour if you act now,” says Mike Bricknell, a mortgage broker at CanWise Financial.

“It is very beneficial to get your mortgage pre-approval when the housing market is quieter, especially as there have been many recent industry changes that may have affected what you can afford.”

Low supply means higher prices

Continue Reading…