Are you thinking of converting your home into money? Then sell it! But before you do, know more about the real estate market in Ottawa. Before you call for a property assessment specialist in Ottawa, such as UCS Advisors | Pigeon-Roy, get some ideas on how you can sell it quickly without losing.
The Best Time to Sell
In Ottawa, houses tend to sell the fastest during spring and summer. Around these times, people have the chance to go out and inspect homes properly.
Ottawa Real Estate Board said their members sold more than 1,500 residential properties in April 2017. This is an increase of almost 5 percent in 2016. Around 312 of these were condominiums.
Note, though, if you are selling your home to move to another, you are also a part of the market. You will also face competition, so do not delay your offers.
Many factors can influence your selling price. There is the market demand. Prices these days are on an upward trend. This is because supply has been low while the demand is high. What is interesting is there is a need for high-end units. The Ottawa Real Estate Board report suggested sales for homes over $1 million doubled in 2017. The average selling price is almost $500,000 for a residential class property.
Guessing the best price, though, does not work. You need to have a basis for it. A small increase can mean losing a potential buyer. Your home stays in the listing for a longer period. The longer it remains there, the lower the chances someone purchases it.
To know the right price, you can check the market value of similar houses within your area. You can also include the costs for repair, upgrade, and maintenance.
Selling a home in Ottawa does not happen overnight (unless you are very lucky), but you also should not wait long. Put these two in mind, and you already have a good start.