Best Time of Year to Sell a House in Alberta- Based on Statistics

Best Time of Year to Sell a House in Alberta- Based on Statistics

Key Takeaways

  • The best time to sell your home is during the spring months (March to May).

  • Families with children often prefer to move during the summer months, so they can settle in before the new school year begins.

  • Fall and winter typically see the lowest amount of home-buying activity.

  • Preparing your home for sale is crucial to getting the most out of your sale. This includes decluttering, cleaning, making repairs, and improving curb appeal.

  • Pricing your home correctly is crucial to getting the most out of your sale. Researching the prices of similar homes in your area, getting an appraisal, and working with a real estate agent can help you price your home correctly.

When it comes to selling your home, timing can be a game-changer. At SB Realty, we understand the nuances of the real estate market and are here to guide you through the process. In this comprehensive guide, we'll explore the best time of year to sell your house, the impact of seasons on prices, and essential strategies to maximize your home's value.

Navigating the Real Estate Seasons in Alberta

Is Now a Good Time to Sell a House in Alberta?

Timing is crucial in real estate. In Alberta, the spring months emerge as the prime selling season, boasting optimal conditions for a successful home sale. 

When we look at MLS sold data from the past 5 years it becomes clear what are the best months to sell a house.

Bar graph of median price change across different seasons

When is the Best Time to Sell Your Home?

According to the data, the spring months (March to May) are the best time to sell your home. During this time, the weather is mild, and the days are longer, which means more people are out and about looking for homes. Additionally, families with children often prefer to move during the summer months, so they can settle in before the new school year begins.

But don’t just take our word for it. Here are some statistics to back up our claim:

  • Detached Single Family: In the spring, the average price of a detached single-family home is 4% higher than in the winter. The average price in the winter is $413,800, while the average price in the spring is $430,000.

  • Half Duplex: In the spring, the average price of a half duplex is 2.49% higher than in the winter. The average price in the winter is $336,625, while the average price in the spring is $345,000.

  • Townhouse: In the spring, the average price of a townhouse is 5.94% higher than in the winter. The average price in the winter is $219,000, while the average price in the spring is $232,000.

Slopegraph of Seasonal Prices changes for various property types

These numbers highlight the tangible benefits of timing your sale strategically. However, it is important to keep in mind that the real estate market is local so these trends may vary depending on the neighborhood and the local real estate market condition.

This becomes very clear when we look at the graph below for one of the highly sought-after neighborhoods of Windermere, Edmonton. Data shows that detached single-family homes sold for a higher price during the months of winter compared to any other season. 

Line graph of Windermere: Detached Single Family Home Price across different Seasons

How to Accurately Determine the Value of a House

When it comes to determining the value of your home in Edmonton, Alberta, it's important to consider various methods for accurate valuation. Here are some approaches to help you assess your property's worth:

Run a Comparative Market Analysis (CMA)

Conducting a CMA involves evaluating recently sold properties in the same area, factoring in renovations. It provides a comparative basis for assessing your house's value, typically at no cost.

  • The CMA process involves a meticulous examination of recent sales data.

  • Neighborhood comparisons help in gauging the relative value of a property.

  • It accounts for renovations and other factors that might impact the value of a house.

Get your Free CMA

Hire a Professional Appraiser

A professional appraiser assesses your property's fair market value based on factors like condition, location, and recent comparable sales in Edmonton.

Utilize Online Valuation Tools

Online tools can offer estimated property values based on various data points. While these tools can provide a general idea of your home's value, it's recommended to consult a real estate professional for a more accurate assessment.

Find out how much it will cost you to sell your home

Consulting with Local Real Estate Agents

Engaging the services of a local real estate agent with expertise in the Edmonton market can be invaluable. Agents have access to comprehensive data and insights into local market trends, enabling them to provide an informed evaluation of your property's worth by combining and analyzing various factors. 

Preparing Your Home for Sale

Once you have decided to sell your home, it’s important to prepare it for sale. Here are some tips to help you get started:

  • Declutter: Remove any unnecessary items from your home to make it look more spacious.

  • Clean: Make sure your home is clean and tidy. This includes everything from the floors to the windows.

  • Repairs: Fix any minor repairs, such as leaky faucets or loose doorknobs. It is recommended to consult with a realtor before making any repairs to maximize your return on investment. 

  • Curb Appeal: Make sure the outside of your home looks just as good as the inside. This includes everything from the landscaping to the paint on the front door.

Price It Right: The Key to a Swift and Lucrative Sale

The Art of Pricing: Finding the Sweet Spot

Pricing your home correctly is an art, not a science. It requires a strategic approach and an understanding of market dynamics.

  • Comparable Market Analysis (CMA):

    • Evaluate recent sales of similar properties in your area.

  • Consultation with Real Estate Professionals:

    • Leverage the expertise of SB Realty to set the right price.

Avoiding Common Pitfalls in Pricing Your House

Overpricing or underpricing can be detrimental. Balance is the key.

  1. Overpricing:

    • This may deter potential buyers.

    • This can lead to extended time on the market.

  2. Underpricing:

    • This may raise suspicion among buyers.

    • This could result in leaving money on the table.

Conclusion

Selling your home can be a stressful process, but choosing the right time to sell can make all the difference. By strategically navigating the seasons, incorporating smart staging and improvements, and pricing your home just right, you set the stage for a swift and lucrative sale.

Remember, at SB Realty, we're not just real estate agents; we're partners in your journey. Let's make your home-selling experience exceptional.


Disclaimer:

It is essential to note that real estate trends can vary, and individual property values may be influenced by various factors. The information provided in this blog is ‘as is’ with no guarantee of accuracy or completeness.

Data Analysis Details:

Data sourced from the MLS. The analysis focused on the last five years of sold data in Edmonton Alberta. Property types included in the analysis were Townhouse, Detached Single Family, Half Duplex, Lowrise Apartment, Apartment High Rise, and Residential Attached.

Copyright 2024 by the REALTORS® Association of Edmonton. All Rights Reserved.
Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.