On average, over the past five years in the Greater Toronto Area, selling your home in May could net you $60,000 more than if you were to sell in January. Last year’s Spring Market Report trends prove that there was a significant price increase and high demand in the GTA during the first quarter of 2017. Supply increased in the last few weeks of March, as more Sellers chose to list their homes.
We all know that timing can be everything, and choosing when to buy or sell a home could save you tens of thousands of dollars. While there tends to be more inventory for Buyers to choose from, there’s usually more competition which benefits Sellers.
Aside from the nice weather, a home tends to show better in spring and summer. Almost all houses look better in the late spring and summer when flowers start to bloom and the grass turns green again, so if curb appeal is a concern for you, this may be something to consider. More Buyers are also ready to buy as they might be looking to use their tax refunds as a down payment and with tax refund cheques in the bank, spring buyers pay full price more often. The advantage for Sellers with kids is that moving in the summer means schooling isn’t interrupted.
Overall, it’s a win-win.