Since most people are shopping in the spring and summer, you’ll have significantly less competition in the winter months. In hot markets such as the GTA, where there are often multiple offers, the winter shoppers have an advantage. You will rarly see bidding wars in the winter.
Our research over the last decade, indicates the prices are $ 43,000 lower in the Winter months , than Summer prices.
With demand being lower in the winter, it is only logical that sellers will be willing to negotiate. It is likely that you will see listings with lower prices than in the warmer months. Sellers may even be willing to negotiate on other items such closing dates, and non-realty items such as appliances. Many agents advise sellers to wait until the spring to list their home; so, a seller in the winter is a motivated one.
Due to the low activity of the winter, We as realtors have more time available and deliver a superior service. A good REALTOR® should always work hard for you, but agents can be stretched thin in the peak season. During the winter, an agent will have more time for showings and negotiations.
Rising Interest Rates
With interest rates steadily increasing, there isn’t a good reason to wait. Just because you missed the buying season this year doesn’t mean you should wait until next year. The longer you wait, higher the interest rates as the Bank of Canada has clearly indicated that interest rates are to increase in the future. If your finances are in order, take advantage of the lower prices and the lower interest rates available today.
If you’re ready to buy a home in the GTA Market, give me a call and we will the perfect home for you at rock bottom prices.
Paul Gill 416 300 7285
Broker @ Remax Gold Realty Inc