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Should I sell my Vancouver home now or wait until Spring?

Blog by Patricia Houlihan - Personal Real Estate Corporation | October 24th, 2014

It is getting to the time of year when people start asking if they would be better off to wait until Spring to sell their homes. With the bad weather approaching  people start to think about how much nicer their homes may look in Spring and they have heard that sales volume is higher in the Spring. I have even had some Vancouver sellers who are currently listed ask whether they should pull their homes off the market and try again in Spring. They think nothing is going to sell over the holidays or during the winter months......this is NOT true and sometimes those who keep their homes on the market when others have decided to wait until Spring can obtain a better price for their homes.

In Vancouver homes sell all year long. We have a mild climate making it easy to go house hunting in Vancouver at any time.  We also have a lot of people moving into the area and many people moving up and down in the market all of the time.  Some of my clients want to move over Christmas so their kids can be in a new school after Christmas break. That means they need to buy before late fall.  Others who have been looking for a while are motivated to move now with rumours of interest rate increases. And many people find this time of year the perfect time to look: summer activities are over and the ski season has not started so what better to do with one's Saturday and Sunday! All of these factors make this time of year good for sellers.

If buyers are going to be out looking in the fall and winter season, those sellers who are listed may benefit from the lack of competition. Real estate, like most things, is about supply and demand and while demand remains strong in the fall and winter, supply does tend to fall.  Having your Vancouver home on the market at this time of the year could be very advantageous.  While your Vancouver home may look nicer in the Spring, so does everyone else's.....Most importantly, we find the greater market conditions (interest rates, economy, etc) are much more important than the season...and right now those market conditions definitely favour selling your Vancouver home!

If you would like to discuss how the market and timing affect the sale of your home, please contact me!