North York Real Estate Blog

The End of the Fall Market

Michael Pasternack - Wednesday, December 07, 2011

We thought we would dedicate this blog to answering a question that we’ve received numerous times over the past couple of weeks from clients and potential clients alike. 

 

P.L., who lives in north Toronto, asked us the following question:


“Since we’re coming up to Christmas, do you think it would be better for us to wait to list our home until the beginning of 2012?”

Given that we have received at least four similar questions since mid-November, we thought we’d provide you with our “two cents”!

The fall market is typically a busy season for residential real estate.  However, as the holidays’ creep closer, inventory levels off and so does the “mad rush” to buy and/or sell your home.  Generally, as with the mid-summer season, those who decide to list their homes in December, close to the holidays, are looking to sell.  They are typically not “testing the market” since no one really wants people tracking in and out of their home in the snow and slush season, close to the holidays and New Year and when the kids are home from school, if they’re not looking to make a deal.  Those that “test the market” (being those homeowners who don’t really need to sell, but would do so for the “right price”) will normally wait until at least mid-January once the festive season has come to an end and the kids are again back in school.

So, P.L., to give you an answer to your question above, if you are truly interested in selling for market price (say, for instance, you have already purchased a home and need to sell yours, or want to relocate closer to your work), any time is the right time to list, including now.  You may not have as many buyers viewing your property right around the Christmas season, but those who are looking right now (similar to those who are selling), are generally truly looking to buy.  However, if you’re testing the market and not in a rush to sell, but will sell if you receive a great offer, we would suggest waiting until mid-January to minimize disruption to your home and family during the holiday season.  You will likely also see increased traffic after New Years.  

If you’re looking for results or general advice, we are always happy to speak with you.  Call Lisa at 416-543-9408 or Michael at 416-786-6160, your North York real estate agents. 
Trackback Link
http://www.northyorkrealestateagents.com/BlogRetrieve.aspx?BlogID=10064&PostID=364569&A=Trackback
Trackbacks
Post has no trackbacks.