04 May How’s The Montreal Real Estate Market First Quarter 2018
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 there is a huge difference in price which varies from neighborhood to neighborhood. The strenght of the market is dependant on supply and demand and this first quarter in the Montreal market showed a decrease of supply of condominiums by seventeen percent, single family homes by sixteen percent.
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According to Bloomberg,
Montreal Is Canada’s Next Hot Housing Market
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Montreal’s housing market is finally getting on the map. An economic revival in Canada’s second-biggest city is fueling a real-estate renaissance, speeding up sales, shrinking inventories, and luring foreign buyers. More stringent lending rules have curbed transactions and slowed price growth in Toronto but have had little effect on Montreal, where buyers are flocking to new condos and sellers are gaining the upper hand.