We’re often asked what the best time to sell or buy is. There are certain times of the year that have higher volumes of transactions and average sales prices (most predominantly spring, April through July, and Fall, September through October). As can be seen in the graph (compiled from the Toronto Real Estate Board’s MarketWatch numbers), the average sale price for the Central Toronto region ranges from a low of $675,100 in January 2015 to a high of $855,942 in May 2015. We expect that this Fall market will hold consistent with the pattern seen in 2014.
The graph, however, doesn’t tell the most important part of the story. There are many occasions when an ideal listing time comes down to local inventory - what is available at the moment, and what will be listed in the next week. Knowing the inventory, and the buyers that are actively searching, can lead to a much higher price even in the ‘off-market’ periods because there is less (or no) competition from similar properties. It comes down to a matter of weeks, and sometimes, days. We've even had record breaking sales prices in July and December! If you have questions, please call us – we’re here to help!