If you’ve been contemplating selling your home for some time, you may be wondering whether or not now is a good time to put your house on the market. After all, we are now well into the fall season, kids are settled back in school and the Christmas season is not far off.
But one look at the recent sales activity in the Burlington area, and you will see that it is still very possible to list your home and get a good price for it at this time of year. According to a recent report from The REALTORS Association of Hamilton-Burlington (RAHB), October saw the sale of 1421 homes through its MLS system – a full 13% higher than they were last October and 25.8% better than the 10 year average. This past October also marked the third month in a row of record sales, and there is no indication of any major slow-downs.
Despite the record sales however, the Burlington market is not seeing record listings. In fact, this past October, listings were down by 1.4% compared to last year.
“Our sales-to-listings ration is still firmly in the seller’s market range in the residential market,” says RAHB CEO George O’Neill.
Is autumn usually a good time to sell?
Typically spring and autumn are the best times for housing sales in North America. Sales in the fall usually do better when the weather is mild – as it is this year. Since many homeowners find summer is a good time to make repairs and renovations, they will often use the warmer months as a time to spruce up their home’s interior and curb appeal before listing it. And of course, record low interest rates on mortgages are another huge bonus for sellers this year as it means buyers are willing to pay more.
Once December hits however, it can be more difficult to sell since people are getting ready for the holiday season and don’t necessarily want to include a move in their plans. Once we reach this point, it may be better to wait until January when people are making plans for the New Year.
What if I’m not ready to list my home?
Just because it’s a sellers’ market now doesn’t necessarily mean that you have to list it right away. Selling your home is a big decision and you must be ready to do so. It takes time both to prepare yourself for the change and to prepare your home to be shown in its best possible light. Failure to do either of these things could lead to hasty decisions and possibly not getting the best price.
What if I am ready to sell?
If you’re ready to get your home on the market, now is a great time – as you can clearly see from the Burlington sales numbers. The first step is to arrange for a free, no-obligation home evaluation. The Woolcott team would be pleased to visit your home and give you an idea of what you can expect both in terms of price and the overall process. We’ll also provide you with valuable marketing tools to ensure you get the best exposure and are able to get the best price you can for your home.
Even if you’re not completely sure you are ready to sell, having an evaluation can arm you with the important information you’ll need to make your decision.
Contact us today and learn how we can help you.