IS SUMMER A GOOD TIME TO SELL?

Summer is not only a good time, but a perfect time to sell! Here’s why:

First, a property looks its best during the summer months. The grass is green, the foliage finally creates that privacy in the yard, flowers enhance the landscaping, the pool’s clear water is inviting, and the mere fact that you are on the market during the summer months, showcases every outdoor feature your home has to offer a potential buyer. There are therefore no surprises as to what you deliver to the market, unlike a winter showcase where the land is unseen, where the pool is closed and covered and the outdoor features just can’t be felt and appreciated.

Second, many buyers take vacation time to shop during the summer season. Young families for example who have school-bearing children need to find a new property address to secure their registration for daycare facilities or schooling. They usually target the end of August as a potential moving date to allow the children time to get acquainted with their new surroundings and get ready for their big day. Others who are relocating for work purposes will often take the summer period to head in from other cities and vacation in the area while targeting potential neighbourhoods and listings.

Single family homes with 3+ bedrooms are the most sought out targets for these emerging households seeking to move into more family oriented areas that match their own demographics. The old saying: “birds of a feather flock together” is paramount in how the population thinks when acquiring a new home. For these buyers, proximity to schools, parks, recreational services, organized sports and cultural activities make up the list of criteria they hold at top of mind during their searching process.

Home owners who therefore seek to make a move for the fall-winter season must consider listing during the summer months. The market today is still conducive to selling, but the “market time” has recently stretched itself to averages that are closer to 90 days of sale time. This is obviously longer than what we have experienced in the spring market, or last year’s market for that matter, where selling was just a matter of a few days, with multiple offers being dumped on the sellers. Today’s market has stabilized somewhat, where a couple of months becomes the norm to finalize the deal.

With this in mind, it is best to start thinking about planning your listing early and be that early bird who gets the worm…

In-Joy your summer, cause it’s gonna be a “hot” one!

Marc.