Real Estate

Should I list my property now or wait till June/July?

  • Last Updated:
  • Apr 17th, 2018 1:02 pm
Newbie
Apr 15, 2018
17 posts

Should I list my property now or wait till June/July?

I have been following this forum topic for a while now and I figure I will get some decent advice for my current situation.

I am looking to sell my property in Durham. I have tenants who will vacate in end of June. I have flexibility to list between now and June/July. The selling agent I am working with is pushing me to list now because he thinks now is the best time in the year to list and I shouldn't miss this timing. If I wait till end of June/July, market will slow down as people go on vacation. Should I wait till at least after the Ontario election in June to list?

Many thanks in advance. Smiling Face With Open Mouth
14 replies
Penalty Box
Mar 27, 2004
10493 posts
9009 upvotes
Toronto
Sell now.
Market slows down in the summer, especially July.
Full-time Realtor
Deal Guru
Feb 9, 2009
12381 posts
11307 upvotes
ltee123 wrote: I have been following this forum topic for a while now and I figure I will get some decent advice for my current situation.

I am looking to sell my property in Durham. I have tenants who will vacate in end of June. I have flexibility to list between now and June/July. The selling agent I am working with is pushing me to list now because he thinks now is the best time in the year to list and I shouldn't miss this timing. If I wait till end of June/July, market will slow down as people go on vacation. Should I wait till at least after the Ontario election in June to list?

Many thanks in advance. Smiling Face With Open Mouth
The wealthiest RE owner on the board, Pkrash, has tons of properties in durham.. just pm him and close the thread...
Deal Guru
User avatar
Sep 8, 2007
10977 posts
14468 upvotes
Way Out of GTA
Also, what stocks should I buy and when?
Banned
Feb 23, 2009
1670 posts
1496 upvotes
Oshawa
List now. Spring is always the best season to sell and we have been a little delayed with the weather.
June will be too late.
Deal Addict
Mar 22, 2010
4133 posts
2172 upvotes
Depends on your time horizon. If you need the closure before end of this year, then spring would be the best bet.
Deal Addict
Sep 18, 2008
1064 posts
355 upvotes
Woodbridge
List 5 years from now
Deal Addict
Jan 17, 2006
2496 posts
2740 upvotes
Toronto
Sanyo wrote: The wealthiest RE owner on the board, Pkrash, has tons of properties in durham.. just pm him and close the thread...
Ha-ha-ha, funny. Durham mogul who survived the crash in 1989 and hoping to experience another one.
I guess it helps his RE business, whatever it is.
Jr. Member
Aug 24, 2010
145 posts
136 upvotes
ltee123 wrote: I have been following this forum topic for a while now and I figure I will get some decent advice for my current situation.

I am looking to sell my property in Durham. I have tenants who will vacate in end of June. I have flexibility to list between now and June/July. The selling agent I am working with is pushing me to list now because he thinks now is the best time in the year to list and I shouldn't miss this timing. If I wait till end of June/July, market will slow down as people go on vacation. Should I wait till at least after the Ontario election in June to list?

Many thanks in advance. Smiling Face With Open Mouth

You can try listing now. But I am Not sure about Durham, the inventory still seems quite high. However, City of Toronto has picked up in terms of sales, I’m seeing properties in my area move pretty quick... a few actually sold in a week maybe 30-50 K lower than the peak for the same type of house
The buyers are out there, they are just looking for a deal. Just don’t let low ballers get their price just because you’re desperate to sell. As cliche as it is “ good things come to those who wait”
Deal Addict
Mar 14, 2006
2290 posts
2343 upvotes
Toronto
Spring time is the start of the market again....Summer is too late..ppl want to look now and move in by the summer especially ones with families...
Deal Addict
Mar 20, 2017
1370 posts
1165 upvotes
Election results for sure will be massive bullish for all RE, since Doug Ford has promised to:
-Cancel Foreign buyer tax
-Soften Rent control
-Assign lots of new construction units for social housing

But it will take up to 3 months to cancel FBT, so not sooner than September.

However, annual market cycles are also important and you never know when its best time, until the time is past.

Generally, this year selling seems like selling at the bottom, so if you are not forced to do it, better to keep property for a better time.
You don't really want to compete with panicking people who are tired to wait while their properties are sold. Better list it when buyers are tired to be overbid on bidding wars.

P.S. Don't forget to vote for Doug Ford with all your family:)
Deal Addict
Mar 14, 2006
4409 posts
819 upvotes
OP, 600-700k homes are selling like hot cakes in pickering ajax so it really depends on your house price range.
800-900s are obviously tougher, they are selling though compare to last quarter.
Banned
Feb 23, 2009
1670 posts
1496 upvotes
Oshawa
ilim wrote: Ha-ha-ha, funny. Durham mogul who survived the crash in 1989 and hoping to experience another one.
I guess it helps his RE business, whatever it is.
Not hoping for another crash...just stating the reality is that RE is over-priced and down since last Spring which you Bulls keep trying to deny and make excuses for.
Keep on trolling!
Deal Addict
Jan 17, 2006
2496 posts
2740 upvotes
Toronto
pkrash wrote: Not hoping for another crash...just stating the reality is that RE is over-priced and down since last Spring which you Bulls keep trying to deny and make excuses for.
Keep on trolling!
You forgot to mentioned that condos are all time high, especially in Toronto.
Also that those RE entry properties like towns and semis held the price very well.
So as I see it, all that demand for condos and towns sooner or later will spill into detached segment and drive it up.
In fact it started already in my opinion, prices for detached segment were up last 3 months at least and they really started to sell in numbers. So yeah, I am skeptical of your analysis.

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