July 2019

June 2019

May 2019

April 2019

Residential Sales in the Montreal CMA Increase for a 50th Consecutive Month in April. In total, 5,973 residential sales were concluded in April 2019, a significant increase of 11 per cent compared to April of last year. This was also the 50th consecutive monthly increase in sales.

Sales by property category

Sales also increased for all property categories across the Montreal CMA. Condominium sales rose by 17 per cent, while plex sales increased by 12 per cent and single-family homes by 6 per cent.

Number of properties for sale

In April, there were 21,111 active residential listings in the Montreal CMA, a 17 per cent decrease compared to one year earlier. “The drop in the number of active listings has created a situation of scarcity, which therefore puts upward pressure on prices,” said Nathalie Bégin, President of the QPAREB. “We see that market conditions have tightened again for single-family homes and condominiums, and have remained unchanged for plexes,” she added.

March 2019

Slight Increase in Residential Sales in the Montreal CMA in March. In total, 5,710 residential sales were concluded in March 2019, a modest 1 per cent increase compared to March of last year. Nevertheless, this was the 49th consecutive monthly increase in sales.

Sales by property category

Across the Montreal CMA, the number of single-family home transactions (3,203) was unchanged compared to March of last year, while the number of condominium transactions (2,079) increased by 5 per cent and the number of plex transactions (422) fell by 5 per cent.

Number of properties for sale

In March, there were 22,430 active residential listings in the Montreal CMA, a 15 per cent drop compared to one year earlier.

February 2019

Strong Sales Growth on Montreal’s Residential Real Estate Market in February. In total, 4,370 residential sales were concluded in February 2019, an 8 per cent increase compared to February of last year. This was the 48th consecutive increase in sales.

Sales by property category

Across the Montreal CMA, the number of transactions rose by 4 per cent for single-family homes (2,436 sales), by 14 per cent for condominiums (1,588 sales) and by 7 per cent for plexes (339 sales).

Number of properties for sale

In February, there were 22,252 active residential listings in the Montreal CMA, a 15 per cent drop compared to one year earlier.

January 2019

 

My thoughts on why the listings have been down are probably due to the stress test the banks do now for qualifying buyers for mortgages.. As well, if someone decides to sell their house, there isn’t much out there for them to choose from.  With multiple offers on the rise and good houses selling within days, people are opting to renovate their houses before moving. I have been getting a lot of calls from home owners deciding whether to renovate by adding an extension or lifting the house to create a higher basement ceiling for a more useful, liveable space, or to instead buy a larger home and so far people are finding it a lot more economical to renovate.

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December 2018

 

The last month of the year is normally a quiet time with most buyers putting their buying dreams on hold till the new year. With the lack of properties available, most buyers have decided to keep their options open in hopes to beat out the crowds. Market is still hot.  Good news for condos. Most sales in this domain are picking up.

 

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November 2018

 

This is a heavy hitting month for sales on the rise and a lack of listings available. You would think that when listings are not available that prices would automatically shoot up.  Not the case in Vaudreuil-Soulanges whereas the listings are at -21 and the number sales is lower than all other areas in the Greater Montreal Real Estate Board at -8.

 

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October 2018

 

Sales have hit an all-time high. This year the market has been extremely different than previous years. With the lack of listings and sales and prices continuously going up, the normal flow of the market has changed. Normally come summers, the market slows down to a halt with everyone away on vacation. A lot of brokers remove their listing, so it doesn’t show that the properties have been sitting around getting stale. Come September, the market becomes active again. This year however, since a lot of buyers haven’t bought during the springs busiest season, due to lack of properties, there were a lot of purchasing happening during the summer, with closing in October.

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September 2018

 

What I’ve noticed is that over the last months, is that condos have made a comeback.  After about three years of a lot of sellers losing money, the market has turned up a bit and stabilized. Not quite a seller’s market in all areas like homes and plexes have been doing, but good news for owners considering selling. Now is the time!

 

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August 2018

 

I think buyers got tired of waiting for product to come out during the normally high season of spring. They just bought regardless, and paid a higher than normal price for their acquisition. August has traditionally been a time when brokers take their vacation due to non-activity.

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July 2018

 

The only thing that is rising these days are prices. Listings still continue to drop since April 2017, and sales are drastically slowing compared to six months ago. I’m also noticing a pattern. If sales are up in an area, normally prices do not follow suit. Meaning, if there is enough product to go around, it doesn’t drive the prices higher.

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June 2018

 

Sales as a whole are slowing down probably due to the lack of inventory on the market. Anything off island, if it’s not too far from Montreal’s core is having more success in sales, especially the Vaudreuil-Soulanges area.

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May 2018

 

I went back a year to compare this statistic with the last 12 months, and honestly, not much has changed.  Every month sales are up between 5-17% (average 10%) and listings down 9-17% (average 14%).

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April 2018

 

Prices, and sales up and listings down all across the board…continuing the trend from April 2017. I just received this text message from a broker when I inquired about a 6plex: “Hi, we are presently with 3 offers in negotiations. Was 68 offers in total”. This is an extreme case, however it is a great example of lack of product on the market.

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March 2018

 

The Seller’s market continue from April 2017.  Sales up and listings down.

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February 2018

 

The market continues to be a Seller’s market for February 2018. Montreal island is looking great for any Seller, with listings down even lower than the previous months as sales and prices continue to rise.

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January 2018

 

Things heated up big time for January 2018.  Sales are still going up and listings down. This has been the trend since April 2017, which is creating an incredible lack of product on the market for buyers.  We are now full on Seller’s market.

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Dec 2017

 

Things heated up big time for January 2018.  Sales are still going up and listings down. This has been the trend since April 2017, which is creating an incredible lack of product on the market for buyers.  We are now full on Seller’s market.

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November 2017

 

Sales are way up (12%) in the Greater Montreal Real Estate area. Higher than I have seen in quite a while.  Listings are still holding at 13% down. Plexes have done the largest jump up, which may be due to it being the end of the year for a lot of people’s accounting. The biggest surprise was the jump in sales for condos, especially in Laval and North Shore.  The win this month is Vaudreuil-Soulange, where the listings are at the lowest and sales highest of all the areas of the Greater Montreal Real Estate board.

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October 2017

What a market these past 6 months have been!  Keeping up with the trend, sales are still up and listings are down.  The good news is that there are more listings on the market which is creating more active properties to choose from. All sections, houses, plexes and condos are up across the board.  Condos are making a comeback and have reached a high, which we haven’t seen in a long time!

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September 2017

 

The trend continues as a buyer’s market. It’s even infiltrated condos, which has been stagnant until now. This does not mean that you just have to put up a sign and you’ll receive multiple offers. Due diligence of maintenance, repairs, cleaning, and staging your house is still very important. As well, creating an appealing listing with professional photos. This is what will make your house that much more desirable over the competition. Pricing your house competitively will also play a large role. Getting the buyers in the door is the first step!

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July 2017

 

We’re continuing the trend of sales moving upwards and listings downward.  The condo market is starting to pull away and, besides the South Shore, isn’t doing too well. In the last few months, condos have been trailing behind a bit in sales, however now we are seeing a much larger gap between the homes and multi-doors and condos.  I’ve been predicting that condo sales were going to continue the downward trend, and that’s exactly what is happening.  Too many listings and not enough buyers.  Homes and multi-door on the other hand are thriving. As soon as a descent house is listed, Buyers are running to them with offers in hand, which is driving prices high with quick turn arounds. There are always exceptions of course.  For example in the Vaudreuil Soulanges area, homes between $500-650K, seems to be slow and lacking Buyers.

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May 2017

 

It’s a perfect storm for the market to keep moving to a seller’s market in the Greater Montreal areas.  Overall sales are up 15% and listings down 15%. Montreal and Vaudreuil-Soulanges wins at an all-time high of 22-25% for sales. All across the board, home, condo, and plex prices are up. To give you an example of what is happening in the well sought-after areas…I tried to book a visit for my buyer to see a house in Pointe-Claire South.  The house was listed for $449K on a Monday night at 11pm and had received an offer the next morning at 8am. The real estate broker told me that these buyers had already lost 2 other deals due to multiple action. These statistics are for May, however I feel they still hold true today.

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April 2017

 

Well there seems to be more of a trend of prices up, and listings and sales down.  Listings are down by quite a lot.  That’s probably the driving factor of the prices going up. Talking to a lot of brokers with buyers, it is slim pickings out there.

South Shore and Vaudreuil Soulanges seems to be doing alright with sales.  Condos are still taking a bit of a hit all across the board.

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March 2017

 

This is the first year in a very, very long time that we’ve seen sales and prices up and listings down…across the board. Sales are up 10% and listings down 14%.  Each area fluctuates a bit, however this is the trend. When there isn’t much to choose from, buyers will pay a bit more for top quality that is on the market. We’re seeing properties selling faster and with multiple offers. The only area where prices stayed neutral was Vaudreuil-Soulanges. Even though sales are up and listings down, they are a newer community with a lot similar homes in the same era. Their quality and features and style are more similar so as a purchaser there still is a lot of competition compared to a place like NDG where there is more of a mix of styles, renovations and features.

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February 2017

 

Let me just start by saying, sales are up 2%, 3788 and active listings are down 13%, 30,187. Loud and clear! Collectively, prices are all up, including condos. Breaking it down though, there are some areas that took a bit of a hit. Condo prices are down in Laval and the North Shore. Not too bad since sales are up. South shore sales are down, and so are listings, which brings balance.

Sales and listings are down in Vaudreuil Soulanges. In this area houses over $500K are not moving much at all. Not a lot of visits or buyers.

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January 2017

 

Sales are up and active listings are down. Not only are we seeing this through the Greater Montreal Real Estate Board statistics, but in our weekly meetings we’re all noticing that there isn’t much out there for our buyers to choose from. This type of market results in properties selling for more than they might be worth, driving up the market, and creating a turn in the market. There are some areas that are busier than others, that’s for sure, however the general feel of the market is that for homes and plexes, it’s leaning towards a seller’s market.

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September 2016

 

The Island of Montreal is hot hot hot right now. Sales are up, and listings are down. It’s a great time for Sellers. The condo market is still relatively flat with a lot of choices in all areas. Condo construction is still very active. This market jump may be due to investors comparing our market to a lot of other active cities like Vancouver and Toronto. Let’s face it, you can’t find anything in Toronto for under $500K. Compared to our market, you can find a triplex in some areas for that price! 

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July 2016

 

The Greater Montréal Real Estate Board (GMREB) has just released its most recent residential real estate market statistics for the Montréal Census Metropolitan Area (CMA), based on the real estate brokers’ Centris, provincial database. In total, 2,685 residential sales were concluded in July 2016, which is a 3 per cent increase compared to July of last year.

 

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