By: Nancy Festarini

Is The Fall Market A Good Time To Sell?

Tags: Fall Market, GTA Real Estate

 

Are you wondering when fall will arrive? So are we! With the above-seasonal-average temperatures we saw through September, it might be hard to believe that fall is here, but it is, both in a seasonal and a real estate way. If your home is no longer meeting your family’s increasing size and needs, it doesn’t make sense to stay there and try to make it work. The same applies if your family’s size is decreasing – kids off to University? Likely it’s time to downsize.

Heading into the fall market, real estate is strong. It is not possible to compare today’s market with what we saw in the spring and part of the summer. That market is not a baseline to make decisions against. The market is continuing to adjust in response to cooling measures taken by the Ontario Government, as well as interest rate increases by the Bank of Canada.

If selling is in your fall or winter plans, it’s time to start checking things off your list now (well, after the Thanksgiving weekend!). There are plenty of buyers who have been waiting since spring to make their purchase, but lost out competing against ten to twelve other prospective buyers in the spring market. These people are ready and waiting for fall market – and that includes your home.

Here are the statistics: the number of homes for sale across the GTA are down compared to six months ago. However, home prices are up an average 2.6% year-over-year. This number rises as high as 26% for condos. With the number of listings up 9.4% year-over-year, the market is readily supplied for a bountiful and successful fall real estate market. This is great news for Buyers!

You know you’re going to put the For Sale sign on the lawn next month, or after the holidays, but what should you start doing now to prepare? The more you can do one month or two in advance, the less stressful it will be the week leading up listing day.

First things first, we recommend to all of our clients to get their exterior photography done during the summer months, or early fall at the latest. The next one to two weeks is really the last opportunity we are going to have to showcase your homes landscaping in its best light. There is nothing better than being able to list your home while there is snow on the ground, and display the beautiful backyard Buyers will be able to enjoy when summer comes around again.

Next, grab some boxes and pack away things you don’t need for next couple of months. Trinkets, photos, books, and anything personal. The idea here is to depersonalize your home so that Buyers can visualize themselves living there. While you’re packing, take the time to de-clutter and donate anything you don’t need.
Grab those paint cans you stored in the garage and do some touch ups around the house. Check the walls around doorways, particularly the foyer. These walls typically get scratched and could use a quick paint job.

Finally, the most important thing you can do right now is to bring in the right team of Realtors to guide and assist you through the entire process. The Nancy Festarini Team’s job doesn’t begin when the For Sale sign goes up. It starts now, with letting you know what exactly needs to be done, what isn’t worth spending your time on and can be skipped, and what improvements will bring you the most return on your investment. You want a top team on your side, someone with award-winning service and a reputation for selling homes quickly and for top dollar. Call us anytime for a free Room-By-Room Review and no obligation home evaluation – our direct line is 416-919-8521. Visit the About Our Team tab here on our website to meet our team and see why our team is known for extraordinary results!