Montreal Real Estate Market - 2024-06-10 to 2024-06-17

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

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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

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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

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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

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