Montreal properties list low, sell high in Canada's hottest market
Montreal has, without doubt, the hottest real estate market in Canada, list low sell high is a tried, tested and true method to extract maximum sale price.
Home sales over asking price in Montreal are increasing year over year. The proportion of Nuns Island condominium sales over asking price is 12% in 2019, an increase of 7% over 2018. Nuns Island houses is at 22%, an increase of 15% over asking price.
Long overshadowed by sizzling activity in Toronto and Vancouver, where houses sold for unreasonably high prices—and usually without conditions—government intervention quelled the action almost overnight.
What emerged is a city that has quietly supplanted Toronto and Vancouver. Montreal has been a very healthy market for a number of years, but it’s been overshadowed by the historical performances of Vancouver and Toronto. Enter the foreign buyer tax in 2016 for Vancouver and the Ontario Fair Housing Plan in 2017, and both the Vancouver and Toronto markets experienced considerable declines in activity, and as a result what became apparent is how healthy the Montreal market was.
Last week, a new provincial government was elected amid muted discussion about Quebec sovereignty—something that hasn’t happened in the province in over four decades. The Coalition Avenir Quebec, whose leader François Legault is expected to catalyze even more business development, won an historic majority and shouldn’t have difficulties executing his mandate. These are factors that will continue impacting Montreal real estate.
When you look at the value of real estate in Montreal compared to Toronto and Vancouver, people feel it is a real bargain and has the opportunity to increase over time.
Home sales over asking price in Montreal are increasing year over year. The proportion of Nuns Island condominium sales over asking price is 12% in 2019, an increase of 7% over 2018. Nuns Island houses is at 22%, an increase of 15% over asking price.
Long overshadowed by sizzling activity in Toronto and Vancouver, where houses sold for unreasonably high prices—and usually without conditions—government intervention quelled the action almost overnight.
What emerged is a city that has quietly supplanted Toronto and Vancouver. Montreal has been a very healthy market for a number of years, but it’s been overshadowed by the historical performances of Vancouver and Toronto. Enter the foreign buyer tax in 2016 for Vancouver and the Ontario Fair Housing Plan in 2017, and both the Vancouver and Toronto markets experienced considerable declines in activity, and as a result what became apparent is how healthy the Montreal market was.
Last week, a new provincial government was elected amid muted discussion about Quebec sovereignty—something that hasn’t happened in the province in over four decades. The Coalition Avenir Quebec, whose leader François Legault is expected to catalyze even more business development, won an historic majority and shouldn’t have difficulties executing his mandate. These are factors that will continue impacting Montreal real estate.
When you look at the value of real estate in Montreal compared to Toronto and Vancouver, people feel it is a real bargain and has the opportunity to increase over time.