June 2021 Founder’s Message
Five Reasons Why the Next 120 days are the Best Time to Sell!
Timing is of the essence when selling a home. Sellers can substantially boost the value of their homes if they sell during the busiest peak months of June, July, August and September. These four spring through summer months make up 40 percent of annual home sales according to data from the National Association of Realtors. Here are five reasons why the next 120 days are the best time to sell!
1. Longer days and lush landscaping:
Curb appeal is at its peak with flowers, trees and manicured lawns providing beautiful backdrops. Showcasing your home to its full potential is an important way to boost its value. Lush greenery, colourful flower beds and well-trimmed trees and shrubs make your home look bright, fresh and inviting. Flowering potted plants accent outdoor living space – a must-have for most homeowners.
Longer daylight hours give home buyers additional time to search for their homes. This translates into more exposure for your listing and increases the potential to receive more offers.
2. Summer weather:
The weather plays an important factor in selling your home. People get outside more during our warmer West Coast months, which means more foot traffic. People tend to stay closer to home during cold, rainy winter months and focus on the busy holiday season.
With the return of long sunny days and summer vacations, more people are out and about exploring the city and its neighbourhoods. Summer weather also gives sellers time to focus on any necessary repairs and up-dates that need doing in preparation for selling. Buyers are also eager to get their children settled before the school year begins.
3. New immigrants to the west coast:
The 2021-2023 Canadian Immigration Levels Plan aims to welcome 401,000 new immigrants to Canada in 2021 and even more in the next two years. This will create opportunities for sellers in the real estate industry as newcomers strive to make the West Coast their new home.
4. COVID restrictions lifting:
As B.C. implements its restart plan and pandemic restrictions are lifted, sellers can look forward to in-person open houses resuming once again. Potential buyers will feel confident about attending showings and that means more activity for sellers. The Conference Board of Canada expects the Canadian economy to grow 5.8% in 2021, the highest since 2007. This strong comeback will be partly due to the household savings that Canadians accumulated during COVID restrictions.
5. Mortgage/Interest rates:
Historically low interest rates are a major factor in Metro Vancouver’s current red -hot real estate market. Whether looking to enter the market, upsize or downsize, buyers are motivated. Sales last month were 27.7% above the 10-year sales average for May and 187.4% higher than those recorded at the same time last year. We are currently in a seller’s market where demand is high and sales are shattering records.
Time is on your side for the next 120 days! Now is an excellent time to call us and speak to one of our highly knowledgeable Virani advisors. We understand global and local sales trends and market conditions. Our experienced advisors will offer the best advice possible to empower you to make sound, strategic decisions when selling your home. A difference in a few months can translate into increased profit and meeting your future real estate goals. Our Virani advisors work closely with you so you can time it right and make your real estate dreams a reality. Let’s chat, 604 913 1000 or [email protected].