Why Selling This Fall May Be Your Best Move - October 1, 2020
Ian Walterhouse
Thursday, October 1, 2020
Why Selling This Fall May Be Your Best Move
If you’re thinking about moving, selling your house this fall might be the way to go. Here are four highlights in the housing market that may make your decision to sell this fall an easy one.
1. Buyers Are Actively in the Market
ShowingTime, a leading real estate showing software and market stats service provider, just reported that buyer traffic jumped 60.7% compared to this time last year. That’s a huge increase.
It’s clear that buyers are ready, willing, and able to purchase - and they’re in the market right now. In many regions of the country, multiple buyers are entering bidding wars to compete for the home they want. Take advantage of the buyer activity currently in the market so you can sell your house in the most favourable terms.
2. There Are Not Enough Homes for Sale
The latest Canadian Real Real Estate Association report indicates that there are just 2.6 months of inventory on a national basis - the lowest reading on record for this measure. The number of months of inventory is another important measure of the balance between sales and the supply of listings. This means that in the majority of the country, there are not rough homes for sale to satisfy the number of buyers. In fact, in the GTA markets are now into just weeks of inventory rather than months.
Due to the health crisis, many homeowners were reluctant to list their homes earlier this year. That will change as the economy continues to recover. The choices buyers have will increase going into the new year. Don’t wait until additional sellers come to market before you decide to make a move.
3. The Process Is Going Quickly
Today’s ultra-competitive environment has forced buyers to do all they can do to stand out from the crowd, including getting pre-approved for their mortgage financing. This makes the entire selling process much faster and simpler, as buyers know exactly what they can afford before shopping for a home.
4. There May Never Be a More Important Time to Move
You’ve likely spent much of the last six months in your current home. Perhaps you now realize how small it is, and you need more space. If you’re working from home, your children are doing virtual school, or you just need more space, your current floor plan may not work for your family’s changing needs.
Homebuilders are beginning to build houses again, so you can choose the exact floor plan to match what your family needs, and you can make sure the outdoor space is what you want too.
Bottom Line
The housing market is prime for sellers right now, so let’s connect to get the process started this fall. If the timing is right for you and your family, the market is calling your name. Click here to find out what your home would sell for. As always, you can email me at ian.walterhouse@century21.ca or call me directly at 416-522-1112 to discuss our home selling process and next steps.
We would like to hear from you! If you have any questions, please do not hesitate to contact us. We are always looking forward to hearing from you! We will do our best to reply to you within 24 hours !