When it comes to selling your Toronto condo or loft there are a lot of factors to consider, one of the biggest being the timing. While sometimes timing cannot be controlled, there are certain times of the year that are better than others when it comes to listing and selling your Toronto condo or loft, if you are not in a huge time crunch.
There are five key factors that play a role in deciding when the best time to list is and they were most prominently noted in the beginning of the year. These five key factors include seasonality, competition, exposure, move-in timing and a seller’s vs. buyer’s market. Taking these factors into consideration, February, March and April are three of the best months to list your Toronto condo or loft for sale.
Although the weather isn’t always the best, the month of February is a good month to list your unit for several different reasons. Listing your unit in February gives you the chance to gain some exposure before the spring rush, and the normally low inventory in February means less competition. The timing of February is also good in terms of people beginning to either start or resume their condo or loft hunt after the busy holiday season.
Listing in February can also give you a leg up as the weather begins to take a turn for the better and February typically leads into a very active spring market. Because of this, buyer’s attitudes are typically better due to spring fever, and purchasing in February gives buyers lots of time to move in before summer.
Listing your condo or loft in March falls under many of the same points as listing in February. You are able to beat the spring rush and get some early exposure and low inventory results in less competition. As well, by March many people have settled down after the rush of the holidays and winter vacations and are beginning to search for condos or lofts. The weather begins to improve which also helps boost the moods of potential buyers and gets them thinking about buying and settling into a new home before summer.
Listing your condo or loft in March also lines up with a late spring/early summer possession date, which is attractive to many buyers as it means they can be settled into their new condo or loft before the summer months hit. This timeline gives them the opportunity to begin moving as nicer, warmer weather hits, and allows buyers to enjoy the summer in their new condo or loft.
By April the weather has usually improved and those who choose to list their condo or loft during the month of April are hitting the market at the beginning of the spring rush. April is a great month to list your condo or loft as it after the income tax period and many buyers are beginning their search, which will give your listing the best exposure. The good weather that comes along with spring will help the exterior of your building to look lovely and green, which will attract buyers much more. Many buyers are also more willing to come and look at a listing in the spring, as they won’t have to trudge through snow and ice to view your condo or loft.
April is also a great month for listing as it lends itself nicely to a 90 day possession timeline, which is the perfect time to move at the end of June when summer begins. Typically as the year progresses more into spring, buyers start seriously searching for their next home and there are often more buyers in the market than there were in the early months of the year.
If you want to buy or sell a Toronto condo or loft, contact Casey Ragan at 416-486-5588 or by email at firstname.lastname@example.org
“Toronto’s Condo Authority”