When Is The Best Time To Buy Or Sell Real Estate In Regina?

Real estate in Regina is similar to many other marketplaces in the sense that there are always more home purchase and sales in the spring & summer months than any other time throughout the year. Traditionally, there are more buyers on the hunt during the warmer months and so sellers follow suit and list their homes when they feel the most buyers are looking. The time of year you chose to buy or sell may reflect your personal goals or it could be a result of universal timing. 


Without listing the dozens of reasons people buy or sell real estate in Regina, let's take a look at a couple scenarios you can think about. 

  1. Mortgage rates
    Rates have been on an increase lately and some people may be included to buy before they jump up again.
     
  2. Opportunity
    Let’s say one of your family members has decided to list their home and they’re willing to sell it to you for a little less than market value, this may be a great opportunity to take advantage of. 
     
  3. Investment
    As an investor, you may get a better deal on a home during the winter months because there are fewer buyers but remember- there is also less inventory.

These factors may encourage you to reassess your decision, whether it may be to buy or sell. Statistically speaking, there are more sales occurring in the April-September months but there are still hundreds of sales that occur every other month throughout the year.

 

There are other questions you should ask yourself when deciding to buy or sell real estate in Regina

Is your home ready to sell?

You will get top dollar for your home if it’s 100% ready for the market. Give that some thought. If you aren’t interested in touching up the paint or replacing some really yucky carpet, the buyers will give you an offer that will reflect the amount of personal time, effort and money they have to put into it. It’s not to say that you can’t price your home according to what needs to be done but make sure you are aware of that when you list.

 

Where you are planning on moving to?

It would be beneficial to sell in a seller’s market and buy in a buyer’s market but the two don’t occur at the same time! Make sure you have your ducks in a row when you are ready to list, and if you have to find another home after yours is sold, make sure you set a possession day that gives you enough time to search for a new home for at least 2 weeks and then at least 6 weeks to move into it. You want to make sure you can accommodate the other seller’s possession day needs.

 

Are your finances in order?

You need to check on any mortgage payout penalties, you need to make sure you are able to pull money from that RRSP. You need to make sure you have a solid pre-approval in hand before you make any decisions and you need to make sure you are able to pay off any debt that you need to pay with sale proceeds.

 

 

Financially ready doesn’t always mean Emotionally ready...

Many people are financially ready to buy or sell real estate in Regina long before they are emotionally ready.

Many first-time home buyers stay at home with mom and dad for years, saving up 10x the amount they actually need for a down payment.

Some couples remain in their family home much longer than they need to before letting go.

 

If you're looking for the short answer- the best time or buy or sell real estate in Regina is when you are ready. But, statistically speaking, more sales occur in the spring to summer months.

I encourage you to reach out to me so we can talk about your goals and about whether or not we need to time your purchase and/or sale with the seasons. I can offer advice specific to your situation without saying “any time is a good time to buy or sell real estate in Regina.” 

 

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