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When is the Best Time to Sell Your Condo?

One of the most common questions Realtors get asked is, "When is the best time to sell my condo?" The simple truth is that condos sell all year round. Many people prefer to list their homes and condos in the spring so that they can close in the summer. This is considered "traditional."

That being said, people are moving into our area (Toronto and the GTA) all of the time. They are looking for homes all year long, so it is important that you talk to your real estate professional to determine the right time to put your home on the market.

Why Should You Sell your Condo in the Spring and Summer Months?

Spring is more popular when it comes to buying and selling Condos. There are more buyers who are looking to move, which may mean that you have more people coming to look at your home. Your condo may not sit on the market as long as it could if you waited until fall and winter.

You might be lucky enough to have a bidding war when two or more families want to buy your home. You may get a little more money for your condo due to the competition. They may try to outbid each other, or not ask for any help when it comes to closing costs. You may even be able to avoid some of the extras, such as inspections, in order to win your condo.

Many families prefer to move when their children are out of school. By putting their homes on the market in the spring, they can close in the summer. Their children won't have to change schools in the middle of the year. They also won't have to miss school as they work to pack up their home and move to another home.

Why Would You Prefer to do it in the Fall and Winter Months?

There is less competition in the fall and winter months. This is good for you because when buyers don't have a lot of choices, they are more likely to choose your home. If there are five condos for sale in the same area, you may not have as good of a chance of selling yours. If it is the only one, people are going to come and see it!

When there is less competition, there is less comparison too (when it comes to the price). When there are five homes on the market, they are all going to have to be similarly priced if they want to sell. If there is only one or two, there may be some wiggle room when it comes to home much you want to sell your home for.

The people who buy in the winter are more likely to be investors or those who don't have children. This is important because you really need to know who you are trying to reach when you are trying to sell your home. If you think of your condo as an investment and not a family home, it may be better to try to sell in the fall and winter.

In Conclusion, When is the Best Time to Sell?

If you are thinking about selling your condo, and are not sure about whether you should sell now or wait for another season, your best bet is to talk to a professional. Don't hesitate to contact your RE/MAX Condos Plus professional.
Together we can decide whether you want to sell now in the busy time or wait until there is less competition. We will be happy to talk about the pros and cons of selling your condo and will be ready to put it on the market in the Toronto and GTA whenever you are ready

RE/MAX Condos Plus Corp. Brokerage
45 Harbour Sq. Toronto, ON M5J 2G4

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