L’Île-des-Sœurs, October 7, 2020 – The Quebec Professional Association of Real Estate Brokers (QPAREB) has just released its most recent residential real estate market statistics for the Montreal Census Metropolitan Area (CMA), based on the real estate brokers’ Centris provincial database. In total, 5,147 residential sales transactions were concluded in September 2020. This...
While the pandemic has affected many areas of Canada's real estate market, the price of luxury homes is certainly not one of them. On Tuesday, Royal LePage released its Luxury Property Report which shows that the price of a luxury house and condominium has risen in many regions across the country since the spread of COVID-19. Nationally, a entry-level luxury house as $2 million and recent...
Already hot before the pandemic, the local real estate market is still on fire, but buyers have different priorities now. If Montreal’s real estate market was on fire at the beginning of this year, the pandemic has only fanned the flames. Yet in a reversal of the sales trends we saw last year, the hottest activity is now at the perimeter of the city. Priorities have changed. The hustle and...
When the time comes to sell your home, you may ask yourself whether it’s really worth hiring a real estate agent to help in the process. With house prices increasing, that extra commission can begin to pile up and maybe you’d prefer to have that money in your pocket. Some sellers are tempted to go down the For Sale by Owner (FSBO) route, but it’s not always the best choice for everyone. What...
Canada’s late Spring real estate market continues, but some of the pent-up demand has caught up. Canadian Real Estate Association (CREA) data show a new all-time record for August sales. The rise is largely due to the lockdown delaying the busy Spring season into the Summer. The result is an odd comparison period, that is likely to continue until the pent-up demand has caught up. Canadian Real Estate...
It doesn’t matter it is your first investment or tenth when you are investing in real estate. The risk is always high and you need only one wrong setup to put yourself in a position in which you will have a huge emotional and financial baggage on your shoulders. There are tons of things you should consider when you are purchasing and selling properties. You have to ask yourself many...
MONTREAL -- Montreal's real estate market remained hot in August, breaking records for sales as it did in July. The sales record matches those in cities across the country. Some experts say, however, that the market is simply playing catchup from the spring when sales halted and real estate purchases ground to a halt. In August 2020, 4,878 residential sales were concluded, which is a 39 per cent...
As the summer turns into fall, the six-month vacation thousands of Canadians have taken from their mortgage payments will be over. As of the end of June, 760,000 people had put their mortgages on pause, according to the Canadian Bankers Association. And for a significant portion of them, the grace period will close in the last few months of 2020. The mortgage deferrals, which the government has...
Rate falls to 4.79% to theoretically allow a borrower to be approved for a larger loan. The bar at which the finances of Canadian mortgage borrowers gets tested has just been lowered, making it easier for would-be home buyers to reach. Five-year posted mortgage rates at Canada's big banks have inched lower in recent weeks, enough to compel the Bank of Canada to formally lower the average...
This marks the second straight double-digit increase in Montreal-area property sales, following June’s 16 per cent advance. 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...