Is it easier to negotiate on a North York condo in winter than in spring?

Usually, winter is easier. Fewer buyers are out in winter, and more of the owners still listed are under pressure to sell, especially from December 20 to January 20, which in Yifei's experience is the slowest month of the year. But how much room you have depends on how many units in that building are listed and how many have sold recently, not the season. A good unit in a good building can still sell at asking in December.

Why winter gives buyers more room

• Fewer buyers. Snow and the holidays keep people home, so your offer may be the only one the owner sees that month.
• Owners still listed in winter often have a deadline: a move, a purchase elsewhere, or several months on the market already.
• Condos aren't scarce the way detached houses are. North York has a lot of them, and one building often has several similar units listed at once, so owners compete with their neighbours for the same buyers.

Yifei's read is that the condo market is unsteady in winter, and some buildings get plenty of showings but few buyers. He has also said North York condos away from the subway line may keep slipping. That's where a buyer's leverage comes from.

Winter doesn't automatically mean cheap

Yifei's point is that winter isn't slow from start to finish. The real lull is December 20 to January 20, and there's still a wave of buyers before December 20. One year, in the middle of rate hikes, his team sold a home a day for 10 days straight in December.

He also sold a North York condo that had never been renovated and still got a good price. When a unit is right and priced realistically, it sells in winter too, and an owner won't take a lowball.

What to do

1. Start with the building: how many units your size are listed now, and how many sold recently. More listings than sales gives you leverage.
2. Ask the listing agent why the owner is selling, how long it's been listed and what closing date they want.
3. Use the closing date. An owner who needs money gets a quick close; an owner waiting on a new home gets a later one. Trade that for price.
4. Resale condo offers in Ontario often include a condition to review the status certificate, giving your lawyer a few days to check the reserve fund, any special assessments and any fee increases. According to the Condominium Authority of Ontario, the corporation must provide it within 10 days of the request and fee, and can charge no more than $100 including tax. Agree on the number of days with your lawyer and agent.
5. Look for winter-specific issues at the showing: condensation or mould on windows, how well the heating works, and how the halls and garage are kept in winter.
6. Look beyond price. Some owners won't move on price but will include furniture, cover some costs or let you pick the closing date.

What Yifei has seen

Yifei advised one North York owner not to wait a year or two to sell. His view was that North York prices had dropped hard and wouldn't recover for three to five years, so it was better to sell while the owner could still break even, and not to rent it out.

That's advice from the seller's side. Flip it around and it tells buyers that many North York owners in winter want out sooner rather than later. Yifei also points out that even when a condo sells within a week, closing usually takes about two months, so buyers have room to negotiate on the date as well.

Ask about your own situation

Which building, how many bedrooms and bathrooms, and how long you plan to live there decide what to offer in winter and how far you can push. Tell me about your situation and I'll tell you straight what to do. Yifei (RE/MAX), efay.ai

Frequently asked questions

How far below asking can I offer in winter?

There's no fixed number. It depends on what same-size units in that building sold for recently and how many are listed. A crowded building with a motivated owner leaves more room; a good unit may still sell at asking.

How long does a condo closing usually take in winter?

Often one to two months, negotiated in the offer. Try to avoid late December through New Year's Day, when statutory holidays leave many law offices and banks closed or short-staffed.

出处 / Sources： - Condominium Authority of Ontario, Status Certificates: https://www.condoauthorityontario.ca/condo-living/corporate-records/status-certificates/