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The Best Time to Sell a Home in B.C.

Here are the three best methods to determine the right time to see your home in British Columbia.

By Emily Southey | 3 minute read

Sep 25

There are at least a few things to consider before putting your home up for sale in British Columbia.

If you’re thinking of selling your home in Port Coquitlam, Burnaby, Richmond, or White Rock, you might be wondering when the best time is to do it. From which season garners the best results to the state of the local housing market, find out more about when to sell a home in British Columbia. 

 

Method #1: The Housing Market 

First and foremost, we recommend assessing the state of the local housing market in which you will be selling. Find a REALTOR® to work with or do some independent research to determine whether you are currently in the midst of a buyer’s market, a seller’s market, or somewhere in between. A REALTOR® may have particularly valuable insight into both the current and predicted future of the market. Generally speaking, the conditions you want as a seller are high demand and low supply, as this may allow you to get more for your home, as well as sell it quickly. 

 

Method #2: Interest Rates 

When researching the housing market, we also recommend taking a look at interest rates. Interest rates directly impact the housing market. When they are higher, there are fewer buyers, which means a worse market for sellers. Alternatively, if interest rates are low, then buyer demand is likely to be higher, which is more beneficial to sellers. Research the interest rates set by the Bank of Canada and how experts predict these may fluctuate in the months ahead.

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Method #3: The Season

The third method you can use to decide when to sell your home in B.C. is by examining the seasons. While the housing market and interest rates fluctuate year-round, regardless of the season, there are certain seasonal patterns that remain the same, even in an industry as unpredictable as real estate. Here’s what to expect when selling in each of the four seasons below.

 

Spring

Industry experts typically agree that spring is the best time to put a home up for sale in British Columbia. Whether you’re selling in Delta, Lions Bay, or even on Bowen Island, selling a home in the springtime tends to give you the highest odds of a successful home sale. Why? Buyers want to be able to take advantage of the beautiful B.C. summers, which means buying a home just before summer starts. Plus, if buyers have school-aged children, moving into a new home over the summer when their children are out of school is the most convenient option. Since spring is such a popular time to buy and sell homes in B.C., you will likely have lots of potential buyers if you choose to sell at this time. The downside is you’ll be competing with more home sellers this time of year.

 

Summer

Summer is the second most popular time to sell a home in British Columbia, with many sellers preferring to list their properties in the early months of summer. Again, selling a home in the summer usually means a larger buyer pool, as this time of year is more convenient, especially for those with school-aged children. Further, selling your home in the summer likely means showcasing it in its best light. By now, the sun is shining, the days are longer, and the flowers are in bloom, which means your home is at its most attractive.

 

Fall

Fall is another option to consider when timing your home sale. While less popular than the spring and summer, there are benefits that come with selling a home in the off-peak season. For instance, although there may be fewer buyers, there may also be fewer sellers, which increases your odds of selling your home. In addition, if you’re selling a type of home that isn’t as attractive to families, such as a condominium, then selling in the fall shouldn’t impact your chances of success. Plus, a fall sale means that the prospective buyer can move in and enjoy their new home in time for the holiday season.

 

Winter

Finally, as a seller, you may decide to sell your home in the winter. Although winter is the least popular time to list a home for sale in B.C., if someone is looking to buy a home during the colder months, it might mean that they are particularly motivated. In addition, the cost of preparing your home for sale might be less since you won’t need to pay as much in gardening or landscaping fees. That said, conducting any repairs or maintenance on the exterior of your home may be more difficult if you’re dealing with heavy rain, snow, and freezing temperatures. 

Emily Southey

Wahi Writer

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