Montreal Real Estate Blog » montreal market

How’s The Market? Provincial Third Quarter Update

Deya Bautista — Mon, 31 Oct 2011 11:04:15 +0000

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!

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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 http://montrealrealestateblog.com/

Market Update: September Condo Sales Stayed Strong

Deya Bautista — Mon, 24 Oct 2011 11:35:27 +0000

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).

Now, let’s talk prices….

The median prices have increased (of course) and here are the numbers:

Single Family homes: $266,750 – 6% more than last year.
Condos: $220,000 – an increase of 2%
Plexes; $400,000 – a 6% increase.

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

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How’s the market: June and July’s Report

Deya Bautista — Mon, 22 Aug 2011 11:30:24 +0000

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.

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Montreal Market Report: Condo Sales Pick Up in May

Deya Bautista — Thu, 16 Jun 2011 12:45:49 +0000

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

Continue reading: Montreal Market Report: Condo Sales Pick Up in May

Commute is driving Montrealers into condos downtown

Deya Bautista — Tue, 17 May 2011 14:00:55 +0000

- TD Canada Trust Condo Poll suggests condo affordability is key for young homeowners -

MONTREAL, May 10 /CNW/ – Many Montrealers are attracted to condos because they want to live downtown and cut down their commute. In the 2011 TD Canada Trust Condo Poll, which surveyed Canadians who are thinking of buying, or recently bought a condo, more Montrealers named these two reasons as the main motivation for their condo purchase than respondents in any other city. The poll found affordability to be another main reason for Montrealers’ interest in condos (42%). Across all cities surveyed, affordability was most important for respondents under 35-years-old (62% versus 46% for other age groups). This age group seems to view condos as a stepping stone into homeownership, with many planning to move in the not too distant future. But, is this a good strategy?

“The convenience of living downtown and cutting down the commute time is making condos an attractive option for many Montrealers who view them as an affordable alternative to a house,” says Christine Marchildon, Senior Vice President, Quebec Region, TD Canada Trust. “However, if you ultimately hope to own a house and plan to move from your condo in a few short years, I strongly encourage you to calculate the costs that you will incur, such as condo fees, parking fees and moving expenses. Depending on how soon you plan to move, these costs could outweigh the equity you’ll build and receive from the eventual sale of your condo.”

What do Montrealers say are the most important features in a condo?

The top feature Montrealers look for in a condo is a balcony (92%). They also say low condo fees are important (91%) and nine-in-ten Montrealers (89%) said they wouldn’t pay more than $400 in monthly condo fees. These figures remain consistent with findings from a similar poll conducted by TD Canada Trust in 2010. Attractive interior design features (89%) were also important. Nationally, those over 50 are more likely to say attractive exterior design is an important consideration (88%), whereas younger respondents were more concerned about being close to public transit (85%) and near theatres, restaurants and shopping (85%).

Home Sweet Home – but for how long?

Four-in-ten (41%) Montreal respondents expect to live in their condo for three years or less (14%) or four to six years (27%). Nationally, the number planning for a short stay jumps even higher amongst respondents under 35. In fact, across cities surveyed, nearly one-quarter (22%) of respondents in this age group said they don’t plan to spend more than three years in their condo and another 45% plan to move after four to six years
Continue reading: Commute is driving Montrealers into condos downtown

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 http://montrealrealestateblog.com/

Re/Max Fall Market Report: Strong Sellers Market in Montreal

Deya Bautista — Wed, 06 Oct 2010 15:19:48 +0000

Good news for the Montreal Market. Despite all the hype on the housing bubble and slowing of sales across the country, we have just got a couple of articles published by the gazette informing us about the very optimistic Re/Max Falll Market Report, which displays a very healthy market for sellers, an increase of the home average price and a market driven by first-time buyers.

Montreal is the country’s only strong market for property sellers, with balanced conditions emerging as the norm in most of Canada’s large cities, says the Re/Max fall market trends report published yesterday.

Despite softer sales during the summer months, a three-per-cent decrease in active inventory year over year has bolstered prices, the report says. Year to date (until August)

In a nutshell:

The average price of a residential property in Montreal grew 8.7% – From $266,125 in 2009 to $288,923 to this year.
Sales of properties priced from $200,000 to $350,000 are moving quickly, with first-time buyers a driving market force.
The shortage of resale inventory at this price point has prompted several new construction projects targeting first-time buyers.

“Buoyed by solid economic fundamentals, Canada’s second-largest centre also has one of the greatest affordability levels,” the report says. “Yet home-ownership rates are low due to the high percentage of renters. As such, there is tremendous room for growth in the years ahead.”

Also:

Sales of high-end real estate also soared in Montreal, with properties worth $1 million and over rising 20 per cent year over year. Yet Montreal’s high-end niche has actually grown more slowly than upscale real-estate markets in other Canadian cities. Sales of high-end homes in Toronto, for example, were up more than 52 per cent, year over year, the report says.

Source: The Montreal Gazette

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MLS® Barometer: Montreal 2nd Quarter 2010

Deya Bautista — Thu, 23 Sep 2010 19:00:37 +0000

The complete report on Montreal Market for the second quarter 2010 is now available for download. This report, has a detailed description of each section of Montreal, with 38 pages of up to date information on prices, sales, and average days on the market.

Also with detailed information on economic indicators such as: Mortgage rates, annual inflation rates in canada, and housing starts.

To view the new report, click here

Keep track of the Market: Subscribe to the Montreal Real Estate Blog for free updates!
And don’t forget to join our new Market Report Newsletter.