When’s The Best Time To Sell? Right Now!
By Stefan Walther | April 2, 2023
Many believe that springtime, particularly May and June, is the best time to sell a home. This is both right and it is wrong.
The weather has become warmer, the sun is out longer, the snow has melted, bulbs are peeking through the soil, the grass is greening up, trees are bursting into leaf — everybody is eager to get outside and get moving, literally and figuratively, after another long cold winter.
However, the very best time to sell is right now — late winter or very early spring.
Because the buyers are already here, they are already in the market. In fact, most of them have already been in the market for months. Anyone who may consider purchasing a home this year has been watching the market for quite some time, many since the turn of the new year.
It is the sellers we are waiting for, they are the ones who are not yet fully in the market.
But sellers may find they have much better success right now, rather than a bit later, that they can sell more quickly now and for a better, higher price.
Without a doubt, the real estate market is most active in May, because this does, in fact, happen to be the time of year when the highest number of both buyers and sellers are in the market.
ThunderBayHouses.com lists 10 to 16 properties per week in May, often two to three homes on some days. Sometimes five in a single day.
What this means for a seller is that they would have much more competition. Right now they could have one of the only homes that are for sale in their neighbourhood; come May there could be two or three, or five or more up for sale, many more for a buyer to shop around and choose from.
So we would say while new listings and overall market activity are higher in May, many actual sales happen quicker in April.
Case in point: A few years back, ThunderBayHouses.com listed two newer homes, side by side in River Terrace South. Both were the exact same bilevel style, same square footage, but with slightly different finishing. One was listed in April, the other in May. The home that was listed first, sold within a week. The home that was listed a month later, took two months to sell and the seller had to lower the price at one point. They were certainly jealous at their next-door neighbour, perhaps even a bit upset and angry.
Timing can be everything.
Don’t wait for all the snow to melt — buyers are already in the market, right now is a great time to sell.
Another case in point: Just last year, the same thing occurred on the city’s southside. ThunderBayHouses.com listed two new higher-end luxury homes, same size and same style (the same builder actually), in a new semi-rural neighbourhood. The first that was listed, sold fast and with multiple offers over the asking price. The second home that was listed, we are not sure about, it may have never sold. It was listed at the same price as the first home, but the seller had difficulties finding a buyer, they did not have multiple interest like the first home. They ended up taking the home off the market. Mortgage rates also no doubt played a part, as they were starting to creep up steadily.
Another reason why right now is an excellent time to sell a home is because of school. Let’s face it, whether you have children or you don’t, much of all our lives are affected by the school year, when children are in school, and when they are out. This is why I don’t go to the fitness centre on March Break.
And so families prefer to take possession of a home after the kids get out of school but before summer vacations start, so at the end of June. This would mean an offer should be finalized on a home in April — right now — or May.
This is even more true for a waterfront property, whether it be year-round or seasonal recreational. We want to buy now so that we can move in and enjoy for the peak heat of summer: June, July and August.
So if you are a potential seller looking to sell quickly and attract the best offer and the top price, or maybe even just test the market, contact ThunderBayHouses.com today (call or text 807-344-9393 or E-mail info@ThunderBayHouses.com) so that we can showcase your home in the best possible way, and to the largest buyer audience — over 30,000 website visitors every week, over 22,500 followers (and growing daily) on Facebook and Instagram.
Your success would be our success. Our success is your success. ThunderBayHouses.com is in its 20th amazing year of proudly serving you.
To see what other sellers have to say about our excellent and successful, tried and true service, check out our “Testimonials: Selling Successfully.”
And don’t worry about any snow in outside photos. Buyers can, and do, look past the white mounds to see a home for its very best qualities — plus ThunderBayHouses.com can always complement a listing with an owner’s photos from the summer. It is also possible for us to send a photographer back for exterior retakes, should the snow melt soon.
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