Back to: June 2018


What Is the Best Time to Sell a House?
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A lot of considerations go into selling your home. It can often be a chaotic time—you’ll be choosing a real estate agent, making necessary improvements, coordinating showings and open houses, and possibly shopping for your new home as well. But one consideration many people overlook is how the time of year affects the sale.

In Canada, where there are four distinct seasons, seasonal influences play a large part in creating good selling conditions. Wintertime brings with it a series of challenges, among them the weather, holiday distractions and lack of interest from buyers, therefore the market usually slows down during this season.

While late spring through early summer tends to be the best period to sell your home namely (May and June). Sales data shows that houses sold during this time frame sell quicker (18.5 days on average) and often for a marginally higher asking price.

As with every rule, there are exceptions. While May shows the highest average odds, your mileage may vary for the following reasons:

1-Climate.  You need to adjust to your local climate, If you live close to the southern borders, you may be able to benefit from the weather much earlier than someone who lives in the northern areas where warm, sunny weather is rarer. Adjust your selling window accordingly.

2-Location. While a downtown condo will be snapped up quickly, suburban and rural properties may take longer to sell. Even nicer homes in planned subdivisions take longer to sell if they’re in sparsely populated areas. If your home is off the beaten path, you should begin the listing process earlier, or plan for a longer listing period, to give yourself and your potential buyers a bit more time.

3- Competitive Market. Some markets are much more competitive than others, meaning you may need to jump the gun a bit to beat out other early listers. In highly competitive markets, it’s also generally easier to sell in the off-season since eager buyers are more plentiful year-round.

4- Economy.  The Economy play is a major factor in selling real estate. When the economy is stable, the real estate market flourish and houses sell fast.  When the economy is under fire, people are nervous about their jobs. and are generally reluctant to spend, accumulate debt or make major purchases.

The Bottom Line
While there is no “magic day” to sell your home, putting your home on the market in late spring or early summer increases your chances of a quick sale and a higher profit margin. Decide on your target “sell by” date and work backward from there to ensure you hit your mark!

 

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With Compliments of

Michele Vyge-Fraser
Real Estate Agent/ Associate Broker/ CNE®


Red Door Realty
1314 Martello Road
Chapter House
Halifax, Nova Scotia,
T: 902-830-6397
NovaScotiaRealEstate@gmail.com
www.HalifaxHomesandCondos.com




NATIONAL MORTGAGE RATES
Term Posted
Rates*
Best
Rates*
6 Months 3.14% 3.10%
1 Year 3.04% 2.99%
2 Years 3.54% 3.19%
3 Years 3.65% 3.24%
4 Years 3.85% 3.54%
5 Years 5.59% 3.34%
7 Years 5.80% 3.49%
10 Years 6.10% 3.94%
Variable Rate 2.65%
Prime Rate ** 3.70%
*last updated: Sept 10, 2018


www.RedDoorRealty.ca
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Sunshine, spectacular ocean views, wharf access, beaches, gardening, peace and serenity... living the life! Welcome to 14 Cowlow Cove Drive in Boutiliers Point. Just a short drive to downtown Halifax, this wonderful contemporary open concept home offers beautiful year round living. Imagine coming home to a house that welcomes you in with dynamic ocean views from almost all windows and decks, vaulted ceilings, warm wood combined with light walls, large kitchen, main floor laundry, 2 main floor bedrooms plus 4 pc bath and... a private full master suite upstairs! Still need more room? The easy to finish high ceiling dry basement that includes a wine/cold storage room and separate entrance, is waiting for you. Original owners, this home was custom designed and built in 1991, includes both a dug and drilled well and new septic. Take a drive - Hwy 103W to new exit 5A - and check it out. It'll be worth the experience and will likely take you to your new home!

Halifax Mortgage Specialist Bruce Lusby 

(902) 210-0515

http://mortgageweb.ca/BruceLusby

Halifax, Nova Scotia - updated Oct 6, 2015

Variable:

5yr @ Prime - .65% (2.05%)

HELOC @ Prime +.25% (2.95%)

Fixed:
1yr 2.29%
2yr 2.09%
3yr 2.24%
4yr 2.54%
5yr 2.54%
6yr 3.39%
7yr 3.44%
10yr 3.84%

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The material in this publication is provided for your informational purpose only and is not intended to substitute professional advice. If your property is currently listed with a Real Estate Broker, this publication is not intended as a solicitation.