When is the best time to sell a house in Toronto?

While location has long been the name of the game when it comes to real estate – particularly when throwing convenient subway access into the mix – strategically timing your home sale can make the real difference worth thousands of dollars to your bottom line.

When is the best time to sell a house in the Toronto market?

After crunching the numbers, we found that homes sold in May fetch higher prices compared to any other time of the year.

Right in the heart of the spring seller’s season, May not only sees more homebuyers out on the market, but homebuyers are also willing to pay more, rightfully claiming the title for the most expensive month to buy real estate, out of the entire year. Our analysis spans over 5 years, from 2010 to 2014 of TREB data.

Conclusion:

The housing market is largely seasonal, with shifts in activity jumping from highs and lows throughout the year. Time and time again however, spring is the most active season for a number of reasons, including the fact that families can move without interrupting their kids’ school year, pleasant weather makes house hunting more enjoyable and buyers are equipped with their tax return cheques, which all translates to more homes sold for higher prices.

With that in mind, we decided to delve deeper into the peak spring season, and noticed a common thread; May is the single best time to sell, for the highest price tag than any other month of the year.

On average, Toronto homes in May sell for $18,500 above the calendar year average price , with the figures quickly climbing as high as $60,000 more when singling out individual months such as January – which is the best time to purchase for budget conscious house hunters.

If you’re looking for the biggest bang for your real estate buck, list in anticipation of the first weeks of May. Better yet, you can save an extra $12,500 that stays in your wallet, by both selling and buying your home with TheRedPin One program (video below), which eliminates the seller’s side of the commission

RedPin

We hope you are finding our Blog informative and enjoyable to read while keeping you up to date with the ever changing real estate market.

Please feel free to contact me via Direct/Text or e-mail at any time and my team will be pleased to assist you, family members and friends with all your real estate needs. Referrals are always welcome!