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Largest October Increases In Montreal Real Estate Market 2016 In Years

Photo by Bonnie Meisels©

Best Montreal Real Estate Market October 2016 – Posts Vigorous Price Increases Via CNW

According to the latest Centris statistics the Montreal real estate market in October 2016 in Greater Montreal has been the best October in seven years!

Sales by geographic area

  • All five main areas of the Montréal CMA contributed to the sales increase in October.
  • Vaudreuil-Soulanges registered the largest increase in sales, as the number of transactions jumped by 45 per cent.
  • The South Shore (+10 per cent), the Island of Montréal (+6 per cent), the North Shore (+6 per cent) and Laval (+6 per cent) also registered an increase in sales compared to October of last year.

Sales by property category

  • Sales of condominiums and plexes rose by 13 per cent and 12 per cent, respectively, while sales of single-family homes registered a more modest increase of 5 per cent.

Prices

  • The median price of single-family homes across the Montréal CMA posted a slight increase of 1 per cent compared to October 2015, to reach $302,500.
  • Half of all condominiums sold for more than $245,000, which represents a 2 per cent increase in median price.
  • Finally, after registering a 7 per cent increase last month, the median price of plexes with 2 to 5 dwellings increased by only 1 per cent to reach $460,000.
Centris® Residential Sales Statistics – October 2016 (CNW Group/Greater Montréal Real Estate Board)

Centris® Residential Sales Statistics – October 2016 (CNW Group/Greater Montréal Real Estate Board)

Foreign and Domestic Real Estate Investors Continue to Look to Thriving Regional Markets to Build Their Portfolios

Q3 2016 Key Findings

  • Stock markets rebounded from Brexit to return record performances – impacts were minimal in Canada
  • Canada’s economy contracted slightly over the second quarter, largely due to the Alberta wildfires and slowdown in oil sands activity
  • Domestic and foreign investor confidence continued to provide healthy liquidity in the third quarter, keeping with this year’s trend
  • Multi-suite residential is a popular choice for investors, and is expected to remain as such for the foreseeable future
  • Canada’s office leasing market is fragmented, as centres directly tied to the overall economy, like Toronto and Vancouver, show strong performance
  • Canada’s industrial property sector continues to exhibit broadly healthy leasing market fundamentals, with only Calgary and Edmonton registering weakness

Our Montreal market continues to attract more foreign investment as prices in Toronto & Vancouver have reached insane heights. The value and price point to purchase good investment property is much more attainable here in Montreal as there are plenty of opportunities.

Bonnie Meisels
buymontrealrealestate@gmail.com
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