As winter has set in, I am increasingly being asked by potential Sellers when the best time actually is to list their home, and if it might be best to wait until Spring to do so. There are a ton of marketing materials out there that all have a catch phrase as to why Winter is the best time to sell, why Fall is the best time to sell, and why Spring is the best time to sell. We all know that Spring is one of the best times to take advantage of hotter selling prices, and more frenzied market activity. However, the best time to sell is always dependant on personal circumstances, meaning that sometimes, you just have to list during the deep freeze.
If you are listing your home in the Winter months, it’s best to be super observant of comparable sales. Over pricing your home and hoping that it’s going to sell during the quieter Winter months is simply not an option. Price accordingly, and while it may take a bit longer than a Spring Market sale, you should be able to attract enough activity to bring in some serious Buyers. Listing your home in the Winter months also usually entails making sure your home is draft free and that your furnace is working properly. Buyers will notice those drafty windows, and will definitely be asking questions about your furnace. Hopefully you’ve maintained it well over the years. Please, shovel your driveways and walkways, and keep them free of ice. If you have a superbly manicured and landscaped yard, yes, dig out those pictures. Buyers can’t see though all that snow to be able to visualize themselves relaxing on your deck, enjoying a BBQ with friends, under the canopy of maple trees that fill out gorgeously come Spring.
Right now, the Real Estate Market in Thunder Bay is what we would call ‘balanced’ with several listings on the market for Buyers to choose from. In my opinion, we seem to be moving slightly more towards a Buyers Market. This past weekend, I hosted 2 Open Houses that were attended by about 3 couples each. Wow, quiet. However, it stands to reason that in these frigid temperatures, less people are going to want to bundle up to see what’s on the market. Most will just wait until Spring, if they can.
So, when is the best time to list your home for sale in Thunder Bay? Well, I think 2016 is the perfect time to sell you home in Thunder Bay. Interest Rates continue to drop, rents are remaining quite high, and Buyers are still quite motivated!