The Mississauga Real Estate market is definitely booming right now. Our office is bustling with activity. We are in the midst of a dynamic spring market and we are on track to have a record-breaking April. Spring markets are typically the busiest time of the year in real estate and this year is no exception for us.
Few potential home buyers desire to search for a new home during the holiday time in the winter or during the cold months. Buyers with children typically want to be in their new home before the new school year in September. These reasons led to a bustling spring market, with the spring months being the busiest in Mississauga real estate.
While the best time to sell a home is during a seller’s market–a market that has more buyers than sellers and hence high prices result from this excess of demand over supply— it can be very difficult for people to time this preciously. (On the other hand a buyer’s market is a market which has more sellers than buyers. Low prices result from this excess of supply over demand. also called soft market. opposite of seller’s market.) Obviously, you want to try to sell your home when demand is high, as prices will be pushed up. This also means that the general state of the economy influences demand. What are interest rates like and what is the forecast for them? High interest rates lead to fewer potential buyers and a buyer’s market, which isn’t great for a seller.
Apart from the seasonal cycles mentioned above, conditions can be become ripe for someone to sell their home at any time. And really, if you are purchasing a property for the long term, then the best time to do that is when your own personal needs dictate the need to buy a new home. We all have external factors that can necessitate the need to buy a home; whether it’s because of a job or family or other responsibilities.
If you are considering selling your home and you are wondering whether the time is right, please consider contacting me at 905-502-1500 and we can discuss the matter.