23 Feb Montreal Market Performance January 2021
Montreal Market Performance January 2021
Montreal Market Performance January 2021 shows a real estate market that has continued to outperform last year’s numbers. Sales for single family homes of all kinds have been in high demand and short supply, driving prices higher. Condos have also performed well, but appear to be in a more balanced market depending on the neighborhood and price point.
Demand is still strong in many neighborhoods in greater Montreal, but for single family homes, the West Island offers more space for less $$$’s. The farther you travel out from the city center, the more bang you get for your buck. With more people working from home, commute time may no longer matter. We’ll have to see how this trend plays out post Covid.
40 Mintutes out from Montreal, by car, there are some really nice neighborhoods like Hudson, Vaudreuil, St Bruno de Montarville. Another big trend due to Covid is the demand for vacation homes. The Laurentians offer some great housing options with lots of green space and an abundance of land and space. Prices continue to increase significantly. Bidding wars and/or multiple offer situations are common place.
Have a look at some of the sales data by neighborhood for January 2021 vs January 2020. Published here is Hampstead, Mont-Royal, NDG, Griffintown,
Canada real estate: BMO Economics sees rising home prices as current listings good for only two months
BMO Economics says demand for housing in Canada is “piping hot”. The bank released a report Tuesday (February 16) describing sales across the country as one marked by “hot hot heat”. As Robert Kavcic, a senior economist and director of economics with BMO, put it: “The Canadian housing market is fully boiling.”
Already hot before the pandemic, the local real estate market is still on fire, but buyers have different priorities now. Briana Doyle * Special to the Montreal Gazette If Montreal’s real estate market was on fire at the beginning of this year, the pandemic has only fanned the flames.
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