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One of the most common questions I'm asked as a Realtor is, "what is the best time of year to buy or sell?"  Common wisdom seems to be that the spring time is the best time to list your property for sale  and the summer time is the best time to buy.  My honest, professional, opinion is that this is not necessarily the case.  Let's examine why. 

For our purposes, let's assume that the seasons are: Fall September 21-December 21; Winter December 21-March 21; Spring March 21-June 21; Summer June 21-September 21.  Let's also all agree that we hope that there is no snow on the ground in the Alberni Valley on March 20! 

Now, let's take a look at the single family home data supplied by the Vancouver Island Real Estate Board starting with the Fall of 2010:

                         New Listings       New Sales                                                     

Fall                 121                              66

Winter           173                             58

Spring             213                             60

Summer        207                             65

Predictably, the "New Listings" numbers indicate exactly what we would expect from this common wisdom.  Far more people list their homes for sale in the Spring and Summer, than over the Fall and Winter.  The Winter numbers are a bit of an anomaly, but that can probably be explained by the fact that many of us think of Spring starting before March 21.    

What is far more interesting are the "New Sales" numbers; they are fairly evenly distributed throughout the year!  In essence, this is why my advice doesn't follow the common wisdom - I believe that the Fall and Winter are the best seasons to list your home for sale.  We see from the numbers that people are buying homes fairly evenly throughout the year, but in the Spring and Summer your home will have a lot more competition for those buyers! 

The other side of this is, when is the best time to buy? Here my advise becomes less useful.  I truly don't think there is a best time to buy.  In the Spring and Summer you will have a lot more homes to choose from, which is good.  However, in the Fall and Winter we often see some very good deals for buyers, as some people have tested their homes on the market and perhaps reduced their asking prices throughout these warm seasons. 

Now, I know what many of you are thinking, "a Realtor telling us the best time to buy and sell is now...shocking!"  My goal with this article is to provide you with information and leave you to make the decision that is best for you.  There are always outside considerations, and you're the best judge of when the time is right for you!    

Chris Fenton, PREC
The Fenton Team