Montreal Real Estate Market

Montreal Real Estate Numbers September 2018 So what are the most recent Montreal Real Estate Numbers September 2018? Residential sales rose eight per cent in September compared to the same month last year. Across the Montreal CMA, the category of condominium sales increased 23%, the most amongst other real estate categories. The number of single family home sales remained unchanged since this time last year. The median price point across all categories steadily increased since last year.  Inventory numbers continued to remain low with an overall percentage drop of 17% compared to a year ago.  The 3,220 home sales represent a nine-year high...

Crea's Market Forcast For The Balance Of 2018 And 2019 Crea's market forcast for the balance of 2018 and 2019 expect that "Economic and demographic fundamentals remain supportive for housing demand in many parts of the country; however, policy headwinds have impacted home buyer sentiment and access to mortgage financing in many housing markets. Further expected interest rate increases, combined with this year’s new federal mortgage stress test are expected to continue to keep home sales activity in check over the rest of the year and into 2019,” says CREA in a statement, adding the latest mortgage stress test has had...

Montreal Real Estate Stories September 2018 How was the Montreal real estate market in August 2018? The short answer is the market held it's own. Despite lower inventories, sales of condominiums increased by 12% compared to this time last year while sales of single family homes rose 5%. The largest increase in sales was in the plexes categories. Read the Centris Report below to view all the numbers. As for the full picture across some of the major markets across Canada, the National Bank Housing Index gives us a snapshot of Toronto, Vancouver, Ottawa and other cities in Canada. Ten of the...

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...

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...

Montreal Real Estate Sales Up 10% Montreal real estate sales were up 10%.  The most recent statistics record 5,432 residential sales in April 2018, which is 10% higher than April of last year. This is the best April since 2010, and Montreal’s 38th consecutive monthly increase in sales. The South Shore led the way at 15%, followed by 13% in Saint-Jean-sur-Richelieu and 12% in Laval with sales on the Island of Montreal showing an increased of 6%. While both plexes and single family homes enjoyed a sales increase of 6%, it was condominium sales that performed the best in April, with an 18%...

How's The Montreal Real Estate Market First Quarter 2018 How's the Montreal real estate market first quarter 2018, shows residential sales were up seven percent in Montreal compared to 2017. Inventory was down sixteen per cent and prices were up five per cent for homes and three percent for condos.  Among the different types of properties, condominium sales took the lead registering a jump of seventeen percent creating a new first quarter sales record. Sales of single family homes increased by two percent, and plexes by five percent. In Montreal, the median family home price was $310k and condominiums $245k. Of course...

Info via Centris Montreal Real Estate Performance March 2018 Montreal real estate performance March 2018 according to Centris, showed the 37th consecutive increase in sales and the best month of March in eight years.  Sales on the Island of Montréal were up +7 per cent from March 2016.  While sales of single-family homes remained unchanged, condominiums stole the spotlight with a strong sales increase of 19 per cent. Mathieu Cousineau, President of the GMREB Board of Directors said "The condominium resale market is booming in the Montréal area." Prices of single-family homes across the Montréal CMA were up 5% from March of last year.  More than half...

Montreal Real Estate Market Update as of April 2018 Montreal Real Estate Market Update as of April 2018 begins with RBC's recent housing report. The headline of the report says it all. "The payback continues: home sales fell again in February following regulatory change on Jan 1". According to this report and the latest statistics, it appears as if the new mortgage tightening rules have been extremely effective. February sales across some of the major provinces in Canada show a significant decline in sales. The only exception is Montreal, which posted a 7.7% increase. Read the full report or download it here.   [gview...

Canada's New Mortgage Rules Canada's new mortgage rules and what they mean for you! With the advent of Canada's hot housing markets, the Canadian and provincial governments introduced new stop gap measures to cool down the market. Provincially, both Vancouver and Ontario implemented the 15% foreign buyers tax. At the Federal level, as of January 1st 2018, the Office of the Superintendent of Financial Institutions (Canada’s banking regulator) introduced three new rules on mortgage lending. First of the three new rules, is the new "stress test". All prospective home buyers, even those with a down payment of over 20%  will now have to...

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