This is one of the most popular questions I am asked as a Realtor and Listing agent. The answer to this question is multifaceted, and there are many things to consider. In a perfect world, the best time to sell a home is when inventory is at its lowest and buyer demand is at its greatest. For the past few years, we have seen this happen earlier than the typical spring market, which usually starts the week after March break. This year the market peaked in January/February. Most sellers think they have time to wait and decide to list in the spring. Sometimes the decision to wait can be costly, as we have seen this year.
It's important to understand that the real estate market, like other investments, has its peaks and valleys and that no one can time the market. In 2017 we experienced a 10-30% market correction, and since then, the market has steadily increased even despite the Pandemic. If anything, we saw the most appreciation we have ever seen in the past two years. Even with the market cooling down now, we are still in a strong seller's market, up 15% over April 2021.
The best time to sell your home is also dependent on your personal situation or timeline. Not everyone is ready to list their home at the drop of a hat, even when the market is red hot. You may want your kids to finish out the school year, complete some needed renovations or updates, and/or figure out where you would go if you were to sell. With that being said, if all of those things are not factors and you could list at any time, don't delay listing your home when the market is favourable and inventory is low. In a hot seller's market, it's important to remember that you can likely get a longer closing if needed, and most homes sell without conditions, so don't
fixate on minor repairs that might delay going to market.