There is no best or worst time of the year to buy real estate (if we're talking about getting the best price for a property), but there can be favorable market conditions due to seasonal changes, which can impact the number of buyers looking for property. This is similar if you were trying to pick the best time of the year to sell your home.
- The Winter Months. When it is snowing, the search for some home hunters slows down as less and less people are likely to move during the freezing cold winter months (especially over the December holiday period). In a sellers market or even balanced market this is not always the case. Snow, rain or shine, the moment a property his the market it will have 20 people through it's doors the same day and in most cases a few active offers already on the table.
- From March through to September, the home hunt can start to heat up as the rental cycle comes to an end. For some first time home buyers, this is when they are actively looking to move out of the rental cycle and into owning their first home. If there is a buyers market this might not change the favorable conditions to finding good deals, but again if it's a hot sellers market, there is a lot more competition for the same property driving prices sky high.
From both of these aspects, we would find Winter Months + a buyers market are most favorable conditions for anyone looking at buying a real estate investment or to find their first home possibly a bit cheaper.
What that said, there are always real estate deals to be found, you just need to know where to look. If you're interested in finding the hottest real estate deals in Montreal, you can sign up to our Deal of the Week. Each week we find the hottest investment deals in Montreal and send them straight to your inbox!