Before putting your home up for sale, you'll want to give careful consideration
to current market conditions.

Understanding the market in which you're selling will help you make important decisions about your reasons and strategy, timing, asking price, net financialrequirements and alternatives - whether you ultimately sell, or not.

You'll first need to know whether it's a buyer's market or a seller's market - whether there are more homes on the market than potential buyers (buyer's market), or vice-versa (seller's market).

One thing that the real estate market proves is that nothing stays the same. What comes up may come down and what is down may come up. That's real estate. That means your area may be in a seller's market or a buyer's market. No matter what the market conditions were when you bought your house, they are no longer the same. Real estate values are too mercurial - they change seasonally, annually and at the whim of the market.

The conditions that make a good market can change literally overnight. All it
takes is the entrance of a major employer or a little word of mouth and buyers
looking for a bargain and seeing others take a chance, and before you know it, a neighbourhood has turned around. Homes that sat unsold are selling for high prices. Young  people are moving in, making improvements, and making the area cool to live in.

Watch what is happening in your neighborhood. Are you seeing new families move in? Are homes selling quickly? Do you see lots of people going in and out of homes that are for sale? Are you seeing improvements being made? Are the homes
changing for the better? If so, you have a good chance of selling your home.

No matter what kind of market you are in, even a depressed market, there will be a buyer for your home. It is just a matter of price. And if you are in a depressed market, the more you can do to make your home attractive, the better chance you have to sell it. The one advantage to a depressed market is that sooner or later, it may invite reinvestment. Prices will come down to the point that people can afford the homes and they begin to buy. When they buy, they take pride and care for the home. When the homes show more care, they become more desirable and prices begin to go up.

It never helps your own cause or that of the marketplace to let your home fall into disrepair. Your best move in any market is to keep your home in the best condition possible. And you could just single-handedly turn your street around and make it more desirable for residents as well as buyers.

Your Real Estate Agent will help you understand what to expect in your market. The comparable market analysis will show you how quickly homes are selling and for  how much. Then you can get an idea of what selling your home in the current market will be like.

You'll want to think about seasonality and the best times of the year to sell. MontrealHome Home Prices will give you an overview of the number of units
sold for each month.

You'll consider mortgage rate trends - are rates high or low? rising? falling?
or relatively steady?

You'll need to investigate the average asking and selling prices of similar homes
in your neighbourhood, how long they have generally taken to sell, and whether
the homes currently for sale in your area are few or many.