02 Nov Is Fall a good time to sell?
Should you wait for the Spring market? Some people believe that Spring is the “best time to sell” and the “hottest market”. Fall can be a great time to sell, especially if you are realistic in your approach. The number of listings and sales do peak each year during the Spring, but there are lots of homes that sell during the rest of the year.
1. It is the right time for your family to sell. If you are looking to buy in the Spring when there will be more inventory and choices, selling in the Fall will allow you to know what your budget will be for your new purchase. This will eliminate the need to bridge financing and allow you to move quickly when you see your new ideal home.
2. Less competition. With fewer homes on the market, your home has a greater chance of standing out and getting noticed, especially if it is priced right. If you have seen lots of “For Sale” signs in your neighbourhood during the warmer months, Fall and Winter could be a great time to sell.
3. Low interest rates. Interest rates continue to be very low, making home ownership or upgrading more attractive to buyers.
4. Serious Buyers. People are always looking to buy, regardless of the season. Those looking in the Fall and Winter months are often more serious buyers who can’t wait for the Spring market. They may desire to get settled before Christmas, or find a new home after selling their’s in the summer.
5. Strengthening economy. With a stronger economy means more buyers are looking to make the move and may be looking to buy in the fall.
We do not think that the market will slow down in the next few months. The president of the Ottawa Real Estate Board, Dwight Delahunt recently said “Coming into the Fall months, which are typically busy, we expect the market will continue to pick up steam”.