The Toronto market has historically been very steady over the last six years with multiple offers being the norm on majority of freehold properties throughout the city. A lot of times we get asked by our Seller clients when is the best time of the year for them to sell their home when they can maximize the potential for multiple offers and get top dollar. We always recommend the Springtime and if you look at the historical data that is available from the Toronto Real Estate Board you will see that May sets the trend for the busiest time to sell a home.
Data over the last four years of sales shows that May has the highest amount of sale throughout the GTA.
Although May typically has the highest amount of sales it also has the most amount of competition where the majority of new listings are coming on the market at the same time as well. The month of December historically has the lowest amount of new listings.
The month of May continues to dominate in getting the highest resale home price but even with the nice weatehr suprisingly the months of July and August typically get the lowest resale price.
Although Sellling the in the springtime will most liekly get you top dollar, it is also very important to take into consideration the agent you use to sell with. It is essential to market properly and by using an agent that knows your neighbourhood and competition will help maximize getting you top dollar. To learn more about selling with the W&Y Homes Co. Team please click here.
Happy House Selling!