My dad always said (and probably everyone else’s did too), “It’s not about timing the market, it’s about your time in the market”.
Cliché market advice aside, let’s talk about the different times to buy a home in Toronto and how the seasons might influence the supply, demand, and overall activity.
Similar to many other sectors, our real estate market in Toronto revolves around the school calendar.
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The Case for Buying a Home in the Fall
The fall is always busy as the kids go back to school, and most people start thinking about moving and putting their homes on the market. This is when we will see a flood of inventory hit the market and buyers out looking after having taken the summer off.
Is it Better to Buy in the Winter?
As we get into the winter months and approach the holiday season, our market slows down, with much fewer listings as not many want to list their homes and have it interrupt their holiday plans, let alone move during the holidays.
When Does the Spring Market Actually Start?
After the new year, we see more activity leading into our spring market. However, our ‘spring market’ starts in February, sooner than the ‘seasonal spring’. Again, we see more inventory come to market and buyers out and about competing again.
Learn more about buying a home in Toronto with these posts next:
- How to Choose the Right Type of Mortgage
- Is it Possible to Buy Your First Home in Toronto Today?
- Is it Smart to Buy a Home when Interest Rates are High?
Is Buying a Home in the Summer a Good Idea?
As we approach the summer months, the kids are on school break and most families also take advantage of the weather and take this time to vacation or go up to their cottages. The market takes that into account as we see less inventory and in turn less buyer demand.
Regardless of the seasons, we still live in one of the most effiLooking for homebuying advice? Give us a call at 416.642.2660, email us at admin@torontorealtygroup.com or fill out the form below.cient real estate markets. No matter what time of year, market conditions change daily and vary from one neighborhood and property type to the next. In any market, there can be opportunities for both buyers and sellers alike.
Take the summer for instance. Although there might not be an ample amount of options out there, it can be a great time to buy! If you come across the right property, you will most likely not be competing with as many other buyers as some have taken a summer break.
The Truth About Buying During the Holidays
The same goes for the holidays. If they can help it, most sellers will choose not to list their home during the holidays or over a long weekend as they will likely not get as many eyes on the property. However, if you come across your dream home and it’s been listed during a holiday, this could be an amazing opportunity for a buyer who is ready to jump and go see a house on Thanksgiving weekend when most will be busy with family plans.
Every buyer is different and so the best time to buy for you will not be the same for everyone else. Ultimately, the most crucial piece is having a trusted full-time real estate agent by your side. Someone who will be watching the market very closely every day, no matter the weather or season, and ready to notify you when the right opportunity arises.
Looking for help finding a property in Toronto? Reach out at any time by calling 416.642.2660 or emailing admin@torontorealtygroup.com. We’re always happy to chat!
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