Thinking of selling your home this summer? It will likely be a terrific time to sell. With the way the markets have been – low inventory, bidding wars, and homes sold for more than asking – selling your home in 2015 definitely has its benefits.
The Canadian Real Estate Association (CREA) cites “tight supply relative to demand” in the Ontario market and CREA further forecasts a price rise of upwards of 2.5% in the GTA, due to lack of supply. And these statistics are common for other part of Canada as well.
So what does this mean for you as you consider selling this summer? There will be a ton of activity immediately for a new listing, so ensure you are ready for the action! Low inventory means that you have to be ready as soon as you list your home. Have everything clean and staged and be prepared for showings.
Expect multiple showings! This also means being ready to leave while potential buyers tour your home. Consider having a friend or family member look after pets during this time as the activity might be stressful to them and you want your home to show its best. Have a checklist so you remember to tidy everything each time before a showing.
Multiple offers are becoming the new norm. Each offer will have its own conditions and offer price so be prepared to read and compare each one very carefully to find the one that suits your situation best.
Real estate agents may advise setting a particular day when offers are accepted and not before. This can increase your home’s desirability and create more and better offers of asking price. It allows you to be prepared for multiple offers and not pick the first offer that comes along.
Your agent will also help you prepare for the flurry of activity your home will receive. And be accessible for them, in case of offers and questions. The first few days are usually the most demanding in terms of your availability. This time can be stressful but with a good agent by your side, the process will be a much smoother one.
Jennifer Birch – Realtor