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Montreal Market Update August 2020

Montreal’s Latest Market Update August 2020

Montreal’s Latest Market Update August 2020

Montreal’s Latest Market Update August 2020:

Amazingly enough, despite the huge drop in real estate activities over the few months of the COVID – 19 lockdown, here in Montreal, both sales and prices have strongly rebounded. It’s as if all that pent up demand became unleashed once the market re-opened. There’s still a shortage of inventory which is what’s driving the Montreal real estate market this summer of 2020.

“Montreal-area residential sales jump 46% in July, setting new record for month”, read the Montreal Gazette article below.

Here are some excerpts from the most recent second quarter Barometer 2020 publication where you can see the numbers.

Access and read the full Barometer 2020 Report

Check out this interesting article written from the mortgage side of things:

Montreal Home Price Forecast 2020 and 2021 – Mortgage Sandbox

Montreal home prices have continued to rise at the same time as the local economy braces for the full impact of a Coronavirus Recession. Homebuyers were sidelined March through May, but in June and July they jumped back into the market with both feet. House purchases in July where higher than any previous year!

Montreal-area residential sales jump 46% in July, setting new record for month

Montreal’s residential real estate market continued to play catch-up last month. Some 5,356 residential property sales were concluded in Montreal’s census metropolitan area in July, a 46 per cent surge and a new record for the month, according to data released Thursday by the Quebec Professional Association of Real Estate Brokers.

RBC Bank also created a July real estate market report which you can read here:

In the meantime, as the COVID pandemic begins to subside …many Montrealers are making the most of our gorgeous summer season. During the construction holidays many people have decided to go on vacation but in a local roadtrip kind of way. Travel to Quebec City, Charlevois, the Laurentians, are booming!

Our Covid infectious case numbers are lower than they’ve been, but this should not make us complacent. Looking at what’s currently going on in the U.S. and other countries should serve as a constant reminder for us to continue to take the necessary precautions like wearing a mask, effective social distancing and frequent hand washing. My words are not here to lecture but to learn from history. This pandemic is not the first and will unfortunately not be the last!

These surprisingly relevant vintage ads show how officials tried to convince people to wear masks after many refused during the 1918 flu pandemic

Mask-wearing was enforced during the 1918 Spanish flu pandemic, but many refused, citing the government mandates as threats to their civil liberties. Men needed more convincing to wear masks than did women. Men didn’t practice proper personal hygiene and also thought wearing masks was too feminine, so public health officials set forth to rebrand personal hygiene as a display of red-blooded patriotism.

With September quickly creeping upon us, there’s still time to enjoy the city, and the beautiful outdoor weather. If you’d like to know what’s going on around town, check out this site below. That’s it for now, till next time:)

A quick guide to your favourite seasonal spaces

Gourmet treats under the open sky, public beaches, reinvented parks and activities for the whole family give us the chance to discover the very best of Montréal. Rest assured that everything has been adapted to new health protocols, because everyone’s safety is always top of mind. Craving gourmet food with gorgeous vistas?

Bonnie Meisels
[email protected]
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