The month of May might be the peak season for listings, but what happens as the months pass and we get into the heart of summer? Buying across the Greater Toronto Area (GTA) changes throughout the year, so is there even such a thing as the “perfect time” to buy a home?
Let’s think about some of the main reasons why now might just be the perfect time to buy…
The warmer weather plays a bigger role than simply giving us more time at the beach, it also increases the amount of homes on the market. The number of listings is typically greater in the late spring, and throughout the summer, every year. This allows for more options, and therefore more choice, when more homes are ultimately on the market. Especially considering recent market conditions (and uncertainty), more homes are on the market for longer – buying now is truly taking advantage of a buyer’s market.
The days are longer, summer vacation has started, and people have more time to dedicate to their search for a home. Coordinating logistics is a huge part of any move, so why not do it when the summer is just right? After all, you’d have to be a superhero to try and make a move during one of Toronto’s (in)famous ice storms! Buying during the summer not only allows you to take advantage of market conditions, but weather conditions, too.
More Curb Appeal
Can you honestly say that homes look better shrouded in snow than it does surrounded by a manicured lawn and blooming flowers? Curb appeal is at an all-time high during the summer, which means that houses being shown have never looked better. It also gives you the unique opportunity to see how a house holds up in the summer, specifically with air flow and Toronto’s notoriously humid conditions.
As we have seen market conditions change, we are seeing more homes sitting on the market for longer periods of time. As the summer winds down, sellers will more urgently look to sell their home before the weather turns. During the first rush of May, sellers have the advantage of people looking to begin their search, but that dynamic can flip as the summer winds down (even during the months of late-July and early-August, as school is right around the corner). This urgency might just signal the perfect time to buy.
When’s the perfect time to buy?
While there might not be an exact right time, it sure seems like summer has a lot of benefits when it comes to buying a new home. What if you can’t wait, though, or you simply want to avoid the rush of other buyers on the market? Well, working with the right team can address and solve all of those concerns.
Summer, winter, spring, or fall, we can help you with your buying needs in the Toronto real estate market all year long. Contact me today, and we’ll get started working on your needs.