June 2018

Who Are Montreal's Homebuyers: A CMHC Report The Canada Mortgage and Housing Corporation (CMHC) did a comprehensive study to find out "Who Are Montreal's Homebuyers." QUOTE "There is very little data on the profile of households who buy homes in the Montréal area, and this study allows us therefore to help industry players keep abreast of the dynamics at play in the various sectors of Montréal. The suburban sectors generally attracted more young families and young couples without children looking for single-family homes. These suburban sectors also attracted buyers from other sectors of the CMA, including a number from the city of Montréal — Francis Cortellino, Economist, Canada...

Montreal Real Estate Market Update May 2018 The Montreal real estate market update for May 2018 shows we continued to set a new sales record.  The biggest news is the continuation of a tight supply of inventory which has directly impacted sales. "The number of properties for sale continued its downward trend. In May, there were 24,501 active residential listings in the Centris system, which represents a 16 per cent drop compared to one year earlier. "The number of condominiums for sale in the Greater Montréal area fell by about 22 per cent in May. A drop like this has not been seen in nearly 15...

About That Condo You Are Moving Into Inspecting condos is part of what I do.  As such, I find that many who decide to purchase a condo do so without full knowledge as to how a condominium operates and how you are affected by its governance.  So, here is some information I would like to share with you so that you enter your new digs with eyes wide open. A condominium or condo is a type of real estate ownership which consists of both commonly owned and privately owned areas.  The Co-Owners Association is the collective body formed by the constituent owners...

Bidding Wars In Montreal Fact or Fiction Bidding Wars In Montreal Fact or Fiction According to the QFREB, Montreal CMA is currently the only province that's in firm seller's market territory. Sales transactions are up while inventories are down, giving sellers somewhat of an upperhand in negotiations. The chart of where sales are happening over asking by region. Chart Source via: QFREB How much or what percentage did buyers pay over asking: Sales price percentage over asking by region, chart source via: QFREB "For single-family homes, several municipalities in the West Island stood out , such as Pointe-Claire (31 per cent), Kirkland (26 per cent), Beaconsfield...

Mold Loves Humidity In general, mold loves humidity! Humidity levels in your home should be between 40 to 60%.  More specifically, between 20 and 40% during the winter months and less than 60% during the rest of the year. This percentage reflects the amount of moisture in the air. However, checking your humidistat level is not enough in maintaining a healthy indoor environment. Humidifiers contain water and as such, are a potential place for microbial growth.   Many homes have a humidifier attached to their furnace which releases humidity during the heating season.  There is a waterline that feeds the humidifier when...

Montreal Real Estate Prices Montreal real estate prices vary across the many different neighborhoods in the Greater Montreal area. The sales data and market place can vary as greatly as an areas style of architecture. Within Montreal, there exists many micro neighborhoods and markets.  Although our general market reports cover the overall sales in the GMA, the devil is always in the details. Housing styles and prices are unique to each region and cannot be compared. For example, single family homes in the urban Le Plateau are entirely different and not comparable to the suburban town of Hampstead. Condos in Old...

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