Montreal Real Estate Market - 2024-06-10 to 2024-06-17
18/06/2024
Welcome to our weekly real estate market report. This week, we've observed interesting trends compared to last year, with notable changes in listings, expirations, and sales.
Weekly Statistics
- Listings: 761 (2024) vs 562 (2023)
- Expirations: 115 (2024) vs 163 (2023)
- Sales: 484 (2024) vs 291 (2023)
These figures show a significant increase in sales, indicating a dynamic market and strong demand.
Lowest Sale
- Property: 387 sq ft condo
- Address: 5600 Briand, apt 447, Ville-Émard, Montreal
- Asking Price: $210,000
- Days on Market: 141
- Listing Agent: Jason England, Proprio Direct
- Buyer's Agent: Christelle Le Valer, Remax
Most Expensive Sale
- Property: 215 Ch Edgehill, Westmount
- Description: Luxurious and spacious
- Asking Price: $3,750,000
- Days on Market: 52
- Agents: Karim Bagdad and Hasna Bartakiz, Remax du Cartier
Income Properties
Listings: 12
Expired: 0
Sold: 10
Most Significant Sale
- Address: 6253 Rue Sherbrooke O
- Units: 25
- Asking Price: $5,200,000
- Gross Revenue: $193,000
- Total Expenses: $75,000
- Cap Rate: Around 3%
- Agents: Maxwell Castle and Mélissa Macaron
Market Analysis
The increase in sales and listings suggests renewed buyer interest despite high mortgage rates. This resilience could be attributed to better debt management by households since the 2007-2009 crisis. Additionally, household incomes have risen, making mortgage payments more affordable despite rising home prices.
SUCCÈS DE LA SEMAINE:
"J'ai fait affaire avec l'équipe Tardif pour la vente de mon condo. Toute l'équipe a été super efficace et rassurante ! En moins d'une semaine, ma propriété était vendue ! Je vous recommande cette équipe pour vendre votre propriété. C'est une équipe du tonnerre !" Dumabe - Client vendeur
Recommended Podcast
Buyer Support and CCA or CCA Notice Forms: Oaciq Podcast
Recommended Articles
- Rates are Falling but Caution Remains: Le Devoir
- Housing Crisis: Radio-Canada
