How long will it take to sell my Home?

The time to sell your home can vary depending on MANY factors including:

• The asking price of your home, relative to similar homes
• The features, general condition and how well you home has been prepared (staged) to make it attractive to buyers
• Normal market variablities - at any point in time the IDEAL buyers for your home may not be looking at present - but next month they might.
• Seasonal variations - certain times of the year are better than others.

The Toronto Real Estate (TREB) publishes periodic reports which track the typical Days on Market (DOM) that it takes to sell a home. The chart below shows a summary of ALL home types in West Toronto on a month by month basis in 2005/6. This trend typically repeats each year - so that year-to-year variations are small.  

From this we can see that:

• The AVERAGE time to sell a home is about 33 days. (taken from the day of listing to firming up the sale. Note that these averages can vary widely by local districts, and by home styles)
• Homes sell much faster in the March to June period. Buyers are typically motivated to sell in the spring in order to enjoy a summer move when kids are out of school. This results in greater activity, and often slightly escalated prices. However, the longer DOM months don't necesarily mean lower prices as many other factors can affect prices. 
• This is further evidenced by the Sales-to Listing ratio chart which shows the ratio of homes that SOLD relative to the quantity of homes on the Market. From this chart we can see that 40% of homes available in March ended up selling, vs only about 20% in the quieter Fall/Winter months.