Fall 2024 could be the perfect time for townhome owners to consider moving to a detached property. The gap between townhomes and detached housing continues to grow, so delaying the move-up could be costly in the long run. Here are the top 5 reasons to make your move this autumn:
1. Motivated Sellers, Better Deals
As we enter the fall market, many sellers become more motivated to close deals before winter sets in. This eagerness often translates to better opportunities for buyers. With fewer competing offers compared to the spring frenzy, you’re more likely to negotiate favourable terms and potentially secure your dream detached home at a more attractive price.
2. Expanded Inventory, More Choices
The fall season typically sees a surge in new listings as homeowners aim to sell before year-end. This increased inventory means you’ll have a wider selection of detached properties to choose from, improving your chances of finding the perfect home that meets all your criteria.
3. Revealing Home Performance
Autumn’s cooler weather provides an excellent opportunity to evaluate a home’s true condition. You can better assess insulation, heating systems, and potential drafts – crucial factors when considering a larger detached property. This insight allows for more informed decision-making and potentially stronger negotiating power.
4. Market Prices and Opportunity
While Ontario’s housing market has seen some fluctuations, there are signs of stabilization. The average home price in Ontario was $877,300 in July 2024, and experts anticipate potential price increases as we head into 2025. This market stability could present a prime opportunity to upgrade from your townhome to a detached property.
5. More Space, Better Value
Detached homes in southern Ontario continue to offer excellent value, especially when compared to townhomes. In July 2024, the average price of a single-family home in Ontario was $964,400. While this represents an investment, it also offers significantly more space and privacy compared to townhome living. With the trend towards remote work continuing, a detached home provides the extra room for home offices, growing families, or simply more comfortable living.
The fall market in southern Ontario presents a unique opportunity to move up from your townhome to a detached property. With motivated sellers, increased inventory, and the chance to thoroughly evaluate potential homes, now could be the ideal time to make your move.
Remember, real estate decisions should always be based on your personal circumstances and long-term goals. If you’re considering upgrading to a detached home this fall, let’s connect and explore the fantastic options available in our local market.
Leave a Reply