What is a property worth?
That is the most important question one can ask in real estate. The answer is simply whatever someone will pay for it, and that varies according to market conditions which are heavily swayed by interest rates. If you a wondering the when to sell your place, in most cases the market has little to do with it. Price tends to be tied to monthly affordability and when rates are up prices are down and vice versa.
So when is the best time to sell? When you need to sell, or want to sell. If you are buying and selling in the same market, then the reduced sale price will also likely mean a reduced purchase price. So unless you are leaving the market entirely, like someone selling an investment property, then the market really doesn't matter that much. There is a wise saying in real estate, "It's not timing the market, it is time in the market that matters."
Real estate over a length of time has always been a smart way to invest your money and give you a great place to live.
If you would like to have a talk about your real estate goals, please do not hesitate to call me or get in touch by email or text.
With listings that have fetched well over ask and many houses bought in competition (even without the highest price), I would love to help you make your real estate dreams come true.
Contact me anytime at 416-997-4285