When is the best time to sell your home? Like most of the towns in York Region & the GTA, Real Estate Sales in Newmarket have a definte seasonal pattern which clearly demonstrates the best time to list your home for sale to take advantage of peak sales & peak prices. The attached graph shows the monthly sales pattern of all Newmarket Sales on a monthly basis for the past 12 years. From the graph it is clear that if you are thinking of selling, in a perfect world March to April would be an ideal time to hit the market. usually as many as 50 percent of all sales happen from March to June with most closings occuring in July and August to accommodate families with school age children, finishing the school year. This year however record lower listing inventories in Newmarket in all types of properties delayed sales in early spring as many buyers were unable to find homes. As a result as we head into the fall market there are more buyers than usually still looking. As a result this October has been the best on record for Newmarket Home Sales! In all probability November will also end up a stronger than normal home sale month.
When is the best time to buy your home? Normally the best time to buy a home is when sales are at their slowest and therefore sellers have to try harder to attract prospective buyers, usually translating into lower prices and better deals for buyers. Even in good real estate markets, the slowest months of the year are historically December and January.The flip side of buying in December and January is that is also typically when the inventory of homes available for sale is at its' lowest, so therefore you may not have as many homes to choose from. So far in 2014, the inventory or supply of homes for sale has been the lowest in many years which has been keeping prices higher than would normally be expected for this time of year.
Note: While the enclosed graph was built specifically for Newmarket, the approximate monthly trends displayed work for most York Region and surrounding towns, including Aurora, Richmond Hill, Bradford, Keswick & Holland Landing. However this seasonal pattern is not nearly as accurate for the condominium apartment market as there are far fewer school age children to accomodate and many more single buyers and seniors, who tend to buy when units are available and not based on school year decisions.
The Advantage of Working with a Realtor: If you are looking to buy a specific type of home as real estate brokers we can set you up on a personalized search with the Toronto Real Estate Board data base, so that even time a property meeting your criteria is uploaded by a Toronto Board agents, you will get an auto email of the property before it gets to MLS.ca/realtor.ca. Contact: Caroline @ email email@example.com or Dave @ email firstname.lastname@example.org
The statistics used to build the enclosed graph were based on Toronto Real Estate Board historical data and are for approximate estimate purposes only.