We all have different motivations to put our house up for sale. It can be for a move for a job or to get a bigger home or even following a divorce. Choosing the best time to sell your home is not always easy. Displaying your home at the right time can help you get a better price or sell faster. The market fluctuates greatly depending on job growth, mortgage rates, scarcity of homes for sale like right now, in times of a pandemic and obviously depending on the asking price. The following article will try to give you information on the best time to put your house for sale in order to allow you to close the sale as quickly as possible and at the best possible price.
Economic indicators
A house that is listed at the right price in an area that is in high demand will, unsurprisingly, sell in a reasonable time, but certain economic indicators have a direct impact on the volume of buyers in the real estate market. Indeed, when the local economy is growing, it is certainly an ideal time to sell. This happens when the job market is booming in your area. All of these job seekers will be looking for a house to live in. Another important indicator is interest rates. The lower they are, the more potential buyers there are in the market. In the opposite case, when mortgage rates are high, the pool of buyers will be smaller since people will have to pay more to acquire a property.
Seasons
The season can also influence the sale of your home. When temperatures warm up, buyers are more present in the market. It is easier to sell in the spring than in the winter. Generally in Quebec, people move on July 1st. Thus, from February to June, the number of active buyers on the market increases significantly. For similar reasons, summer is also a good time to sell. Your land will also be at its most beautiful to impress buyers. Autumn brings its share of buyers in connection with work transfers. In addition, the season is still conducive to seeing the field well. Winter is synonymous with a slowdown in the real estate market. Even though houses tend to stay on the market longer, there are also fewer properties for sale which can cause scarcity. Inspections are also more difficult to perform in winter since part of the land becomes inaccessible, as well as the exterior foundations. It may also be more difficult to assess the condition of the roof if it is covered in snow.
In any case, do not hesitate to contact a real estate agent to help you in the sale of your house. They are in contact with a large number of buyers and will certainly be able to guide you in your decisions.