Author: Dale Biason, Director, Rockwood Homeowners' Association
That depends on what you own and why you need to sell. Traditionally, the detached market in Rockwood Village is best between March and June. Summer is slow, then it picks up a little in September but, by November, it falls sharply until spring.
This is primarily due to the fact that homes in the area are well suited for families. Families looking to buy in Rockwood Village probably have children in school. Therefore, once school starts, the market wanes, as families generally want to buy a home and get settled before the school year starts. Also, inventory at this time tends to be low, and buyers like choices.
This being said, there are local residents that want to either upgrade from a townhome to a semi-detached or detached home, and now is the best possible time to do that because lingering inventory is probably ripe for a good deal, especially if the sellers are motivated to sell before the spring market.
Townhomes are generally a different situation. There is less fluctuation in this market as the buyer pool is primarily composed of first-time buyers who may not have children, have very young children and “empty nesters” who are downsizing. There is not as much seasonality in the townhome market.
According to the Toronto Real Estate Board, 2014 will be a good year for sellers as inventory levels are anticipated to remain low and, with mortgage rates remaining stable, the table is set for a seller’s market.
*Please note this article was originally published in the Winter 2013 edition of The Rockwood Times.
That depends on what you own and why you need to sell. Traditionally, the detached market in Rockwood Village is best between March and June. Summer is slow, then it picks up a little in September but, by November, it falls sharply until spring.
This is primarily due to the fact that homes in the area are well suited for families. Families looking to buy in Rockwood Village probably have children in school. Therefore, once school starts, the market wanes, as families generally want to buy a home and get settled before the school year starts. Also, inventory at this time tends to be low, and buyers like choices.
This being said, there are local residents that want to either upgrade from a townhome to a semi-detached or detached home, and now is the best possible time to do that because lingering inventory is probably ripe for a good deal, especially if the sellers are motivated to sell before the spring market.
Townhomes are generally a different situation. There is less fluctuation in this market as the buyer pool is primarily composed of first-time buyers who may not have children, have very young children and “empty nesters” who are downsizing. There is not as much seasonality in the townhome market.
According to the Toronto Real Estate Board, 2014 will be a good year for sellers as inventory levels are anticipated to remain low and, with mortgage rates remaining stable, the table is set for a seller’s market.
*Please note this article was originally published in the Winter 2013 edition of The Rockwood Times.