WHY NOVEMBER MIGHT BE THE BEST MONTH TO SELL YOUR HOUSE

Some owners hesitate to market their homes between Halloween and New Year's Day, believing
the holiday season to be an off-peak time to sell. But the idea that houses don't sell in November
and December comes from outdated historical trends.
In fact, several studies show that, on average, homes listed during this time are more likely to
sell, sell more quickly, and sell closer to the asking price. November, in particular, has some
unique advantages that make it an ideal time to sell. Here are two reasons why Thanksgiving
month might be the best time to sell your home.

MORE MOTIVATION

If buyers are looking for a home in November, they've either waited through the busy season in
hopes of a better deal, or they're facing their own time constraints due to work changes or
other reasons. For these highly motivated buyers, the traditional barriers to winter house-
hunting — bad weather, short days, holiday preparations — don't apply. If your house is available
for them to view in November, these buyers are more likely to make an offer close to the listing
price.

LESS COMPETITION

Because of the misconceptions about selling during winter, it's true that many sellers don't think
it's worth their time to try and sell their homes toward the end of the year, so they take their
homes off the market. Their loss of a potential buyer is your gain!
Serious buyers have fewer homes to choose from over the holidays. That means less
competition for you — and more buyers checking out your even more desirable home, either
online or in person.

MARKET UPDATE

CALGARY MARKET UPDATE FOR NOVEMBER 2024:

• Benchmark Price: $592,500, increase 4.5% vs. 10/2023
• Sales: 2,174, 0.2% increase vs. 10/2023
• New Listings: 3,264, increase of 21.6% vs. 10/2023
• Inventory: 4,966, 55% increase vs. 10/2023
• Months of supply: 2.28, 54.6% increase vs. 10/2023
• Days on market: 32, increase of 21.1% vs. 10/2023

NOVEMBER MAINTENANCE TIPS

• RAKE LEAVES AND CLEAN GUTTERS
• SERVICE SNOWBLOWER
• CLEAN THE CLOTHES DRYER EXHAUST
• WINTERIZE SPRINKLER SYSTEM
• DRAIN ALL EXTERIOR HOSES

DO YOU KNOW YOUR HOME' S VALUE?

1. Our market has seen a steady appreciation of home values over the last 2 years. This year has
   been interesting to watch because of the extreme lack of inventory, resulting in a seller's
   market. We want to ensure you are armed with the best and most accurate information
   regarding your home value, so we have compiled a list of our top 3 reasons why you should check
   it now.
   
2. See if you can ditch that private mortgage insurance, the first thing that comes to mind:
   Is it is time to knock off PMI from your monthly mortgage payments. in many cases, your
   lender requires you to purchase private mortgage insurance (PMI) if you put less than
   20% down on your house. PMI typically amounts to between 0.5%-1% of the purchase
   price. For a $200,000 mortgage, your PMI could be $1,000 to $2,000 per year.
   
3. Update your home’s value on online listing sites to reflect renovations and
   improvements. Even if you’re in the earliest stages of putting your house on the market,
   you’ll want to start owning your home’s history and value online. Claiming your property on
   sites like Zillow or Realtor.ca and updating your home’s online value, can change the
   perception of the property to better align with its current value.
   
4. Find out how much equity you’ve built up, understanding equity, or the current market
   value of your home minus your outstanding mortgage balance, puts you in a better
   place to understand your finances overall. You may be beginning to think about a move
   and knowing the value of your property could lead to an accelerated sale timeline, as long
   as you factor in the difference between home equity and your home sale proceeds.
   

The real estate market is very active in Active in November.
EMAIL US FOR YOUR FREE HOME VALUE!
www.findyournookyyc.com
info@findyournookyyc.com