Is spring time a good time to sell my home in Edmonton?
This is probably the most common question I get asked right now. Again, my answer like always, is it depends. It depends on what your goals are and what your real estate plans for the future are. The main point you need to consider is supply vs. demand. This principal is quite simple: A high demand for housing and shortage of houses on the market creates an ideal situation for selling.
However, there is alot more to it than that. Spring typically brings more buyers to the market, so there tends to be a slightly higher demand for houses. But, over the last few years, sellers have taken this into consideration and waited for srping to list their houses; thus increasing the supply of houses as well. You could expect to get more potential buyers looking at your house, but they have more options to choose from.
Now the other thing to remember is that if you plan to sell your home, and buy a new home in the same area, you are subject to the same market. This means that if you wait until spring to sell your home and get 5% more than you would have in the winter, you will also be paying 5% more for your new home. And if you are moving up to a more expensive home, this means a higher cost.
For example: sell house for 5% more on $300,000 =make $15000 more. Buy house for 5% more on $400,000 = spend $20,000 more.
To summarize, if you plan to buy a house in the same area you currently live in, there is really no advantage to waiting for a certain time of the year to sell. The only way you can use this to your advantage is if you are downsizing to a cheaper home or moving to a completely different market that isnt following the same current market trends. If anything, it would be most advantageous to look at the current trends in your current neighborhood to see if there is more of a local advantage to listing at certain time (ie. currently no comparable houses in your neighborhood for sale = smaller supply). Let me know and I’d be happy to sit down and do a current market analysis with you of your neighborhood to see how it is trending.
