Homes Sell For Less At This Time Of Year

Toronto Real Estate > Homes Sell For less

We’re often asked
at our Home Buyer
Workshops when is the best time of year to buy.  I’ve always answered that
there hasn’t been any particular time of year that’s better than the other…
every month has its advantages and disadvantages.  After listening to a
real estate statistician recently in Santa Monica, I decided I had better do
some more research into this question.

After doing some
year-over-year comparisons of the all-important ratio of
sales-to-listings (reflects the strength of Toronto real
estate sales activity vis-a-vis total listings and tells us whether
it’s a buyer’s, neutral or seller’s market), it began to become clear that the
period from mid-December through to the end of January every year was indeed a
better time to purchase.  Why?  Because that ratio was at it’s lowest
of any time in the 12 months!

For example, in
2005 the average sales-to-listings ratio for the months of February through
November was 34.1%.  Compare that to January 2005 which was 23.6% and
December 2005 coming in at 26.1%.  Similarly, in 2006 that
10-month average has been 31.4% while January 2006 was only
25.4%!

There’s no
reason for this trend to change for this December and January
2007!

As a further
incentive to purchase before January 31, 2007, the Thomas & Sally Cook Team
has put together a Buy Now And Save
package to save our house and condo buyers money on their closing costs.
Call our office at 416-691-8118 and ask to speak to Melissa to
get all the details.

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