Real Estate

Selling house in Winter vs Spring

  • Last Updated:
  • Dec 10th, 2019 8:55 pm
[OP]
Deal Addict
User avatar
Jun 12, 2003
2879 posts
73 upvotes
Markham

Selling house in Winter vs Spring

Hi guys,

My rental property has become vacant suddenly due to evicted tenant. I want to sell it ASAP and buy another smaller property. I know house prices and liquidity are lower in winter however I'd be buying into another property almost concurrently. I may have less choice but I'm thinking I won't lose too much value for timing because I'm selling "cheaper" (winter pricing) and buying-in again "cheaper".
6 replies
Deal Fanatic
Mar 27, 2004
5092 posts
3123 upvotes
Toronto
prices are quite strong this winter.
Full-time Realtor
Member
Jul 2, 2018
262 posts
256 upvotes
The market is still very strong as a lot of buyers who have been looking since summer/fall are actually still in the market due to low inventory.

The real question is, why do you want to sell and incur all those transactional costs and then buy again and pay land transfer taxes legal fees etc? Is there something undesirable about your current investment property?
Realtor + Investor
Deal Addict
Feb 19, 2019
1033 posts
1391 upvotes
Stouffville ON
Winter is a strong market other than few weeks around Christmas. What kind of price difference are we talking about between your larger property you are going to sell and a smaller property you are going to buy? The lower the price the stronger the market, it weakens as you move up into more expensive segments, also area dependant.
Full Time and Full Service Realtor
Deal Addict
Jan 1, 2017
1330 posts
1174 upvotes
You do realize that you will have to pay capital gains when you sell your rental property right...
Jr. Member
Apr 25, 2019
187 posts
208 upvotes
Ontario
Is it better to sell rental properties when you might not be working and/or you falll under lower tax bracket or after retirement ?
Deal Fanatic
Jul 3, 2011
5773 posts
2936 upvotes
Thornhill
Your timing is about a month too late for the best chances of you selling before the doldrums of December and buying before prices start to rise in the New Year.

But depending on where you want to sell and where you want to buy, the 3rd part of that equation - downsizing is going to be the determining factor. You might want to consult with a Realtor who understands these nuances.
chinaboy1021 wrote: Hi guys,

My rental property has become vacant suddenly due to evicted tenant. I want to sell it ASAP and buy another smaller property. I know house prices and liquidity are lower in winter however I'd be buying into another property almost concurrently. I may have less choice but I'm thinking I won't lose too much value for timing because I'm selling "cheaper" (winter pricing) and buying-in again "cheaper".

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