How do Real Estate Prices Change Throughout the Year?

Home prices fluctuate over the course of the year. Traditionally, highest prices have been achieved in spring, with lowest average prices recorded in part of the summer and in the winter months. 2012 was a very typical example of consumer behaviour in this respect, as can be seen in the table to the left.

May 2012 shows an average price that is almost 4% higher than the yearly average, while January is the lowest with close to 7% lower prices.

2013 paints a much more diverse picture. Even though the price level was still the highest in May, Oct and Nov followed closely. Dec is only slightly below average. Not exactly a typical year, but the high prices late in the year indicate what may be in store for 2014. 

The beginning of this year will most likely be characterised by further price growth. Especially if the low inventory levels remain common place. They certainly dominated much of the second part of last year. 

Urs Villiger, real estate sales representative, Toronto