Q&A House Matters: When is the best time to sell?

– Mark, Stanmore Bay

Talk to a handful of people about this topic and you will most likely get several different answers!  Typically the “best time” to sell is during the warmer months such as spring or summer when flowers are in full bloom and the weather is nice.

Statistics from REINZ show that properties coming onto the market normally rise during Feb/March and Sept/Oct meaning that we have a high supply of properties.  During the cooler months, normally brings a lower supply of properties so this could also be viewed as being the perfect time to sell providing that the demand is healthy.  Check out more statistics on the Hibiscus Coast over the last 5 years below.

As real estate agents, we are busy all year round, however as we highly recommend seeking legal advice before signing any agreement I would suggest not selling during the Christmas period when most law firms are closed.  There are many other influences to the real estate market aside from seasons but most importantly the best time to sell is when you are ready to make the move.

If you are wanting to sell your property in the shortest time frame, statistics over the last 5 years would suggest that October/November is the best time to sell with an average of 33.6 days over the last 5 years.  However, during 2015 the lowest days on the market was in October sitting at just 27 days.

If we look at the number of sales throughout the year January, February and April has seen the lowest amount of sales over the last 5 year period, followed by August suggesting that these months are quieter times in real estate.

Got a question?  Contact Anita Dobson via email or Facebook! As seen in this week’s Real Estate Outlook.

Disclaimer: All opinions expressed by Anita Dobson in this article are solely Dobson’s opinions and not necessarily the opinions of Harcourts Tandem Realty Ltd.  You should consider seeking advice from your own financial or investment advisor.