In all of our lives, there will eventually come a time for a major change. The transition can be exciting, a little stressful, and often, a combination of both. For many of us, this change involves selling the family home.
In addition to all the emotions involved, you also have some pretty big decisions to make. One of the first is “should I sell my house now or wait?” In this post, we’ll talk about when it might be the best time to sell a house.
So, you’ve decided to sell your home! First things first, you’ll need an accurate assessment of what it’s worth in the current market. To find out, book your complimentary home evaluation with our team.
Best Month to Sell a House
Rule of Thumb # 1: Seasonality
Is there a single best month to sell a house in Ontario? For guidance on timing, many people understandably turn to the seasons. There is a popular philosophy that spring is the best and winter is the worst. If you miss the spring, fall is the next obvious choice, followed by summer.
There are occasional outliers, naturally. We have seen some years (notably during the pandemic) where winter was the craziest season by far. So seasonality isn’t something to set your clock by. However, historical trends show that it is true most of the time!
If you have any control over the matter, it’s still a great idea to list during the spring. You’ll automatically benefit from a large pool of potential buyers.
If you can’t avoid selling your home during the winter, the next best thing is to use whatever advantage you have. There is no getting around the fact there are probably fewer buyers searching, but it isn’t always bad news. The ones who are in the market are often eager and highly motivated to find a house.
Do you want to learn what’s true and what’s not when it comes to selling a house in today’s market? Check out Myth Vs. Fact: What to Know Before Selling Your Home.
Best Month to Sell a House
Rule of Thumb # 2: Market Conditions
Analyzing and researching the current market is usually the first piece of advice before putting your home on the market. It’s critical because it informs your entire pricing and promotional strategy. It could also be the deciding factor of when to sell your house.
Let’s look at the main scenarios.
A seller’s market puts you at a serious advantage. Tons of buyers are searching, but listings are in short supply. These conditions could set the stage for multiple offer scenarios or bidding wars and push up your final selling price.
A buyer’s market means the opposite is true. Tons of homeowners are trying to sell a property, and there aren’t enough buyers who want them. Selling now could mean harder negotiations and possibly even a price concession.
There is no question that if you can list your house during a seller’s market, you absolutely should. However, the market and your goals don’t always align perfectly. Sometimes, you need to sell at a certain time, or you’re just ready to move on.
The key is to work with an experienced real estate team who knows your local market and how to position you for the best results, no matter what the situation. If you end up selling during a buyer’s market, you will have one major benefit: After your house sells and you’re ready to buy, all the conditions now favour you.
Are you still wondering “when is it a good time to sell my house?” By now, you may have realized the secret. Spring and seller’s markets are premium opportunities, but there are pros and cons at any time.
Should you sell your home and move to Kingston? You might get some inspiration by browsing some of our featured listings.
Best Time to List Your House
Hard & Fast Rule #1: With Careful Consideration and Expert Guidance
More than ever, many people are paying less attention to tradition and selling their house when it works best for their lifestyle. Fortunately, the new landscape does allow for a little flexibility, as long as we keep a few best practice guidelines in mind:
As much as possible, we recommend that most people avoid listing from the end of July to the end of August or the end of November to the beginning of January.
Are there exceptions? Always. This is Kingston, after all. We have the military base, a college, and a highly-sought after university. Between the CFB sending out posting notices beginning in February and many students scrambling to find housing before the end of semester, our market can pick up sooner and last longer than many other communities in Canada.
There is only one hard and fast rule if you want the best results when selling your house. Get expert guidance customized to your situation.
Don’t try to do it all alone, and don’t rely on conventional wisdom. Even if it’s true most of the time, sometimes, everything gets turned upside down! Your unique scenario might actually mean you’re the exception to all of the rules.
As always, your best bet is to work with an experienced Kingston real estate agent who has their eye on all of it. No matter what, there will always be some advantages that can allow you to make the most of your transaction and empower your next steps.
Are you getting ready to sell a house? Our Kingston real estate agents are happy to help you form your strategy. Reach out to us at caldwellco@royallepage.ca or call 613.449.6588 today.
Meet Your Market Guides
Caldwell & co. is your all-in-one resource for everything real estate related in Kingston, from community highlights to market-shifting trends and hands-on transaction guidance.
