Time For Buying or Selling - Spring Market Conditions

After something of a winter cool-down, the busy spring season for Canadian real estate is almost here.

Open houses and for sale signs will be popping up, giving buyers more options to get into the market. It’s a good time for sellers too because they typically are able to charge more. But could this time be different?

Canada’s real estate market is coming off one the slowest Februarys in decades. According to a new national survey from Zoocasa, 58 per cent of Canadians surveyed say they think spring is the best time to sell a home. Less than half (42 per cent) say it’s the best time to be in the market as a buyer.

Among survey respondents, 11 per cent said they want to buy a home this spring. On the flip side only eight per cent plan to sell. If you are planning to sell, it’s important to consider curb appeal.

"The spring market is quickly approaching; if you're planning to sell your home, it's time to purge, clean, and consider a fresh coat of paint," said Kurtis Horvat, Zoocasa real estate agent in Toronto.

"In real estate, first impressions matter - and they can often make-or-break whether someone makes an offer on your property.”

Considering how far sales and prices have fallen over the past few months, buyers could have the upper hand this spring. Horvat has some advice for anyone hoping to get off the fence and into the market, especially when it comes to Canada’s largest market.

“One of the best things buyers in Toronto's competitive market can do to set themselves up for success, is asking a lot of questions early on so they fully understand what to expect during the home buying process,” said Horvat.

“He recommends taking the time to find a realtor who knows your market and understands your circumstances so they can guide you through your search and ensure you are connected to the right experts along the way - whether that's mortgage brokers, lawyers, or home inspectors.”