Labour Day weekend means different things to different people.
For some, it’s time to celebrate the economic and social achievements of workers.
For others, it’s the last chance to bust out those white slacks before burying them deep into the closet.
For realtors (and their sellers & buyers), it signals the end of the summer real estate market and the beginning of the fall market.
Generally, the Toronto market slows down a bit during the last few weeks of summer.
Well, many buyers who were actively looking in the summer market have already bought.
And those that haven’t often decide to put their search on the backburner and enjoy some vacation time while the weather’s still warm.
The same goes for many realtors.
Naturally, the sellers follow suit.
Most will hold off on listing their home for sale until after Labour Day weekend has passed.
And it makes sense.
Why would you choose to introduce your property to the market at the same time that many of your potential buyers are choosing to take a break?
Doesn’t it make more sense to wait another week and list after everyone has returned?
Not to mention the many buyers who won’t even be starting their search until the fall market begins.
Having said that, there’s always the other side of the coin...
Potential Benefits Of Listing Before Labour Day Weekend
Sellers can sometimes take advantage of the fact that there likely isn’t going to be much competition in the last week of summer.
Getting a jump on the fall market can pan out well if there are motivated buyers out there and yours is one of the few homes available.
And there’s no way of knowing exactly how many properties are going to come on the market that first week after Labour Day.
What if two or three of your neighbours all list at the same?
Wouldn't it have been better to list the week before and possibly sell ahead of the new influx of inventory?
Generally though, I would argue that the safe bet is to wait and come out swinging at the start of the fall market.
Here's looking forward to a strong one this year!
If you’re thinking of making a move and would like to know how I can help, feel free to contact me for more info.