December’s stats came out early this month. The Greater Montreal Real Estate Board (GMREB) often gives us monthly numbers and this time, they also have some information on how the year did in general, compared to 2008.
We had a slow start last year. The market didn’t show serious signs of activity until late spring. Of course, they didn’t mention that until now, but we could all feel it. Glad that slow time is over.
According to the GMREB, in 2009 prices increased a 5% more than in 2008. There were also more sales- houses lead the way this time, as opposed to condos. And finally, the month of December was very extremely active. There was an increase 0f 67% more sales than in 2008.
So far this year looks promising. The first time buyer’s season is approaching soon. Properties are getting ready to enter the market. Make sure you don’t get left behind.
Always happy to answer your real estate questions.
Happy monday to all!
Posted by: Deya Bautista - Real Estate Broker working as part of the McGill Immobilier team. Specializing in high end condos in downtown and Old Montreal. For buying or selling contact Deya at: 514.917.7889 
In the real estate market anything can happen from the time you sign the contract to the closing of the sale. Remain as flexible as you can be, you could come across concerns during the home inspection that the seller is unwilling to fix or the repair costs are more than the amount that was stipulated in the contract.
The prophets of doom and gloom in the media certainly called it wrong last year.
I would like some comments on this housing bubble that everyone seems to think that we will be seeing soon. Should we be concerned? For someone like me who may in the next couple of years put my house for sale. Thank you
Connie, There is no housing bubble coming to Montreal, as far as we've been informed.
The market is staying stable and getting stronger, as you can see by the numbers. Increases of 6% yearly hardly constitutes a bubble.
Thank you for the information. I was wondering what your thoughts are in market today in selling /buying duplexes or four plexes. I have read they are becoming more popular the owner lives in one apartment and collects rent from 2 or more apartments, thus helping with the mortgage/taxes payments. With so many condos being built is this possible a new trend?. I would appreciate any feedback
The owner occupant for plexes is a common practice. And even if you decide not to live in the property, and have all the units rented. Condo buyers will always be there. New construction is not happening everywhere in the Island, so for those places that are already established with more mature buildings, like TMR, Plateau, NDG etc they are not as likely to lose their tenants because of condos. In any case, there is always a need for renting, not everyone can afford to buy.
The trend of living in one of the units you own from a plex isn’t new. I imagine it is getting more coverage in the media nowadays.
People have their own thoughts about the future, I say let it roll and see where it goes.
Since owning a house is quite a big financial transaction and involves several legal formalities, make sure you seek advices from the best Real Estate professionals to get you the finest deal.
Good thing you have done here, Thanks! This is a pretty up beat post about real estate that I am quoted in.
If population grew but GDP and number of jobs did not grow, then that would be disastrous. When more
are unable to find work, then they would likely go for benefits. When more are unable to find work, then
they might have to sell their houses in the end. Ultimately, prices would fall, and maybe more mortgagee
sales may occur. Include unemployment and GDP and social impact into the prediction of house prices if
you want, otherwise, no point predicting long term house prices based on just population prediction alone.
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johndouglas