The Best Time To Sell Your Edmonton Home
There are countless reasons why people sell their homes. Sometimes they want to, sometimes they need to. Regardless of whether you're upgrading, downsizing, relocating or craving a change, determining the best time to sell your Edmonton home will help you sell for top dollar and minimal hassle.
Why Are You Selling?
One of the best first steps you can make is determining why you want to sell. By very clearly identifying the reasons behind the decision, your real estate agent will be able to come up with a strategy that plays to your unique circumstances. In addition, they can help you find what you're looking for.
Want to know how much your home is worth? Check out our free Market Analysis!
When is the best time to sell my home in Edmonton?
In a nutshell, the best time to sell is the time that works for you! Although spring is the most popular time to list real estate, every market has its advantages and disadvantages. Consider winter, where there are fewer homes on the market and therefore less competition. Or fall, when most of the spring and summer inventory has been burned off but there are still buyers who want a new house by Christmas. By timing the sale of your home so it works best for your needs, you've chosen the best time to sell.
Buyers Markets, Sellers Markets & Interest Rates
In addition to the time of year, there is also the state of the real estate market to consider. This will impact inventory levels, buyer interest and even your own financial situation.
For example, if you purchased your home when interest rates were lower than the current rates, you'll likely have to take a higher rate on your next mortgage. That could mean paying more for the property.
The larger market will also impact how easy or difficult it is to sell your home, and also how much it will sell for. A sellers market is, of course, favourable to a seller, as it means inventory levels are lower than demand, which can result in a multiple offer scenario. However, sellers can be too confident in their home's worth and are more likely to overprice their home, which prevents buyers from making offers.
A buyers' market may seem like a bad time to sell, but that's not always the case. It just means that homes tend to send on the market longer, which can decrease their value over the long term. But pricing your home right from the beginning will help alleviate this burden and allow your real estate to sell in any market.
Learn more about the best time to sell your home in Edmonton with the Paranych team! Call 780-457-4777 or contact us online to get started.