Most people assume incorrectly that the Toronto real estate market is always crazy. While the real estate market is always hot and favours sellers over buyers, there are really only two periods during the year that the market is actually crazy. Spring and fall are the two busiest times for real estate in Toronto. We are two weeks away from the second busiest period in Toronto, the fall market. The day after Labour Day is typically a very busy day for listings. A high listing volume continues until just after Halloween, after which the market slows and eventually moves at a snail’s pace, leading up to Christmas. Most of the transactions from September to December occur in just two months. The fall market is quick but mighty. What does this mean for you?
For Sellers
If you want to take advantage of the fall market, we highly recommend that you get your house on the market mid-September to early October. This means that you should be working now to get your house ready to put on the market. Now is the time to interview listing agents and get a schedule in place. Once your house is on the market you typically have only a week before it is sold. Start decluttering and painting now so that you’re not rushed.
For Buyers
Be prepared to start looking for a new home the day after labour day. That means that you should be interviewing agents and getting your mortgage pre-approval together now. When the fall market comes timing is everything and you need to be prepared to work quickly.
If you are thinking that you want to buy or sell in the fall market, get in touch with us. We’d love to hear from you.
