Going against conventional wisdom, realtors are advising sellers to list during the winter rather than waiting until spring.
According to a recent Royal LePage survey of more than 950 real estate professionals from across Canada, 79 per cent of survey respondents would advise a winter listing, up from 64 per cent prior to the pandemic.
Provincially, B.C. leads the shift, with 93 per cent of respondents turning the usual season suggestions on their ear, outpacing Quebec (87 per cent) and Atlantic Canada (85 per cent).
Greater Vancouver also had the highest mark among the nation’s largest urban centres, with 87 per cent of respondents preaching the opposite of patience, compared to 65 per cent prior to the pandemic. Meanwhile, the same advice was offered by 86 per cent of respondents in the Greater Montreal Area and 71 per cent in the Greater Toronto Area.
A number of factors have renewed realtors’ faith in winter — particularly in B.C. — including the current strength of the seller’s market, increased demand, inventory shortages, and lessons learned from last winter’s unconventional COVID experience.
“Last year, we saw one of the busiest winter markets in our history and with demand continuing to climb, this winter will be another very active market in British Columbia and across the country,” said Adil Dinani, sales representative, Royal LePage West Real Estate Services in Vancouver. “Our housing supply is terribly inefficient and simply can’t keep up with demand. Even if there are fewer buyers in the winter, it is unlikely there will be enough inventory on the market to satisfy demand.”
