A daily dose of the local market.
The november numbers are out already!
This time from the Montreal Real Estate Board. We had 3% more sales than in Nov 2010.
All property types had sales increase and prices went up by 4%.
Watch the video to get the details. I’m still working on the transcript!
If you’re not able to watch the video from your email, here is the permalink:
Good morning Montreal!
Nothing like a monday morning market and sale s chart to start your week of :)
To give you a wider perspective on the quarterly market update:
Montreal had 7,796 sales transactions, representing a 4% increase than last year’s quarterly sales.
Median prices (houses) reached $270,000, translating into 6% more than last year’s.
And overall, it was Quebec City who had the most action in the resale market: 7% more sales, and a price increase of 5%. Their homes are still considerable affordable at 227,000. Which is almost imposible to find now here in the island.
That’s it for now. We’ll be waiting for the new monthly stats and I will keep you posted!
The Greater Montreal Real Estate Board (GMREB) released the latest numbers, comparing last’s years market performance and price increases to this year’s.
September 2011 had 1% more sales than September last year. Condos had 8% more sales, but the single family homes and plexes were down in sales.
They also mentioned that sales were down on the North and South Shore respectively. With all the traffic and problems with infrastructure happening, it was expected to hear the south shore isn’t doing so well in sales.
But back to the main topic, and as it has been for the past few months. The condo market it’s still on the lead:
“Once again, the increase in sales in the Montréal Metropolitan Area can be attributed to the performance of condominiums. Sales of condominiums were particularly vibrant in Laval (+40 per cent) and on the Island of Montréal (+10 per cent).
The median prices have increased (of course) and here are the numbers:
Now, if you see the condo’s increase it is only by 2%- price wise, but the sales were up for a lot more than that.
Looking to sell your condo? Contact me for a free appraisal!
Click here to view the complete article from GMREB
We had had quite a busy summer this year. Although earlier on it was said that 2011 would not be as busy as last year’s summer in terms of sale, it turned out to be a little better than expected.
June had 5% more sales than the year before and last month’s sales were not lagging behind either. According to the Montreal Real Estate Board, 13% more sales were done this year in July compared to 2010′s. Also, condos continue to take the lead with 19% more units sold than in 2010.
Thinking about selling your condo? Contact me for a free appraisal.
The residential real estate activity from 12 developed countries were analyzed and compared from the first quarter of 2010 to the same period this year. And despite the comments on: “High property prices, the tightening of mortgage insurance rules and the increase in mortgage rates limited demand, particularly among first-time buyers.” – ( and blah blah blah…) Canada ranked pretty darned high.
Here are the International Top 3 Markets:
The first place: Ireland (+12%). {data from the 2010 market}
Second place: France (+6.8%)
Third place: Canada !!! (+5.3%)
In contrast, the countries with the largest price decreases in 2011 were:
Spain ( 8.5%)
The United States ( 4.8 %)
The United Kingdom ( 4.2 %)
Source: the Scotia Economics department at Scotiabank. Click here to read the report.
Seeing where we are ranking worldwide, gives us a better perspective on where we’re standing in terms of growth. We have a strong and stable economy by comparison. Here in Quebec, the market isn’t as volatile as the rest of the country. We have a moderate and steady growth, which makes it a great place for a sound investment.
Interesting information in one of the FCIQ articles called: “Condominiums: No Longer Restricted to Large Urban Centres”
It mentions that over the past 10 years (from 2000 to 2010), the condo market in Quebec has rapidly increased with sales that grew by 124% compared to that of single family homes which only went up to 41%. So more condos were sold than family homes.
You’d think that condos were only heading the market on urban areas, but they are saying: “Saint-Hyacinthe, Saint-Jean-sur-Richelieu and Granby, condominium sales accounted respectively for 20, 14 and 12 per cent of all residential sales.”
Smaller urban centers are taking up condo living, it isn’t a downtown thing any more. And with some many options, prices and styles for condos, it doesn’t surprise you that young buyers are deciding for a more practical living quarters, such as a condo over purchasing a house.
If you’re in the market for condo buying or would like to sell your condo, contact me for more information on all our Real Estate services.
MLS® Residential Statistics for the Montréal Metropolitan Area
“There were 4,186 MLS® sales transactions in the Montréal Metropolitan Area in May 2011, a 4 per cent decrease compared to May 2010, according to the Greater Montréal Real Estate Board (GMREB). Despite this slight decrease in real estate activity, condominium sales actually increased by 4 per cent in May. ”
While sales decreased by 5% on the Island of Montréal, condominium sales increased by 6%. The most active areas, in term of sales were the following: [Read more...]
Real Estate Broker
McGill Immobilier
514.917.7889.
deyanira@McGillRealEstate.com
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