How’s the Market: February 2012 – MLS Sales Stats
It is that time of the month when numbers and percentages are released by the MLS and Montreal Real Estate Board database. According to their latest report, there was a 9% sales increase throughout the Montréal Metropolitan Area as compared to February 2011. The ninth consecutive increase and the strongest one since April 2010.
Here is the point-form scoop:
- Active listings grew by 13%
- Condos are still on the sales lead, for the 23rd consecutive month
Continue reading: How’s the Market: February 2012 – MLS Sales Stats
Posted By: Deya Bautista - Real Estate Broker working as part of the McGill Immobilier team. Specializing in high end condos in downtown and Old Montreal. For buying or selling contact Deya at: 514.917.7889 http://montrealrealestateblog.com/
December 2011: Year Ends with More Sales
December marks the 7th consecutive monthly increase in existing-home sales. Compared to sales from December 2010, in 2011 there were 7% more sales according to the Greater Montréal Real Estate Board (GMREB).
From all the areas that had increases; Vaudreuil-Soulanges (+39%), North Shore (+28%), Laval (+9%) and the South Shore (+2%). Only the Island of Montréal had a decrease in sales (-4%).
Sales increased for all property categories.
- Single-family homes 8%
- Condominiums 6% and
- Plexes 3%.
In terms of prices…
- Single-family homes had a decrease in median price (-1%) to reach $260,000.
- The median price of condominiums increased by 2% to reach $222,000,
- Median price of Plexes went up by 5%, reaching $405,950.
In a nutshell, The Island of Montreal had more listings and less sales in December 2011.
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Posted By: Deya Bautista - Real Estate Broker working as part of the McGill Immobilier team. Specializing in high end condos in downtown and Old Montreal. For buying or selling contact Deya at: 514.917.7889 http://montrealrealestateblog.com/
Related Articles:
- April: Resale Market’s Best Month Since the Start of the Year
- Montréal Real Estate Market Continues to Favour Sellers
- Montreal Market Report: Condo Sales Pick Up in May
How’s the Market? Montreal Sales and Prices November 2011
www.youtube.com/watch?v=mKp12Mv-oFs
The november numbers are out already!
This time from the Montreal Real Estate Board. We had 3% more sales than in Nov 2010.
All property types had sales increase and prices went up by 4%.
Watch the video to get the details. I’m still working on the transcript!
If you’re not able to watch the video from your email, here is the permalink:
http://montrealrealestateblog.com/market-stats-nov2011/
Posted By: Deya Bautista - Real Estate Broker working as part of the McGill Immobilier team. Specializing in high end condos in downtown and Old Montreal. For buying or selling contact Deya at: 514.917.7889 http://montrealrealestateblog.com/
Related Articles:
- Montreal Market Report: Condo Sales Pick Up in May
- Video Blog: Episode One
- Market Update: September Condo Sales Stayed Strong
Report says: Canada’s housing bubble close to bursting
A report by Capital Economic says Canada’s housing bubble is now close to bursting as housing valuations have “lost touch with fundamentals” and household debt is at a record high.
House prices could fall by as much as 25 per cent over the next three years.
“House prices have been growing rapidly for nearly a decade now and it has reached the point where housing is so overvalued relative to incomes that a downward correction seems unavoidable,” says Capital Economics.
The report says the downturn in the housing sector will severely constrain economic growth over the next couple of years as consumption expands at a more “muted” pace and housing investment “shrinks.”
“We also anticipate that the end of the housing boom will lead to a marked decline in housing-related activity and employment,” it says.
Capital Economics says signs of over-building are evident as unoccupied housing units are at historically high levels, similar to 1994-95 when housing construction was last mired in a slump.
“Another sign of over-building, or perhaps over-consumption, is the sharp increases in the home ownership rate over the last 10 years,” it says. “This run-up has coincided with a housing price boom fuelled by rising financial leverage.
“Our concern is that these excesses will eventually lead to a house price correction, which would greatly impact household wealth, consumer confidence and the economic recovery.”
Source: Montreal Gazette
… Good thing that here in Quebec the market remains stable. Not up, not down. Just stable.
Posted By: Deya Bautista - Real Estate Broker working as part of the McGill Immobilier team. Specializing in condos and revenue property in the metropolitan area of Montreal. For buying or selling contact Deya at: 514.917.7889
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How’s the Market? Canadian Housing Market Stabilizing in 2011
News on the national real estate market starts and sales can now be found at the CMHC’s website. According to Canada Mortgage and Housing Corporation’s (CMHC) second quarter Housing Market Outlook, Canada Edition, we are doing just fine.
Expect a moderation and a slight increase on the home prices this year:
“The recent increase in the average MLS® price reflected strong sales in Vancouver’s property resale market. For the remainder of 2011, we expect the average MLS® price to moderate. Nevertheless, the average MLS® price will experience an overall increase this year. As the existing home market moves to more balanced markets in 2012, growth in the average MLS®price in 2012 is expected to be more modest than in 2011.”
So, that’s great news for the country. Let’s check out now how our local market is doing. Stay tuned.
Posted By: Deya Bautista - Real Estate Broker working as part of the McGill Immobilier team. Specializing in condos and revenue property in the metropolitan area of Montreal. For buying or selling contact Deya at: 514.917.7889
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GMREB Video: Condo Sales Increases in January 2010
Last month, just as the month before that, there was another record breaking sales for the condo market. The new video of the GMREB explains the numbers as well as the so called “Real Estate Bubble” that people are talking about.
Michel Beauséjour, the CEO of the GMREB, clarifies the rumors about another real estate bubble by defining what the bubble means.
” (A bubble) Is supported by massive especulation in the market, which means that people are just buying houses or condominiums to resell it very quickly after and make money. We have no evidence that this is happening in the market right now. ”
“The condominium market is supported by first time buyer.”
Based on a survey in 2010, 43% of those first time buyers are renters
RSS readers: If you are not able to view this video, click on this link
Posted By: Deya Bautista - Affiliated Real Estate Agent working as part of the McGill Immobilier team. Specializing in condos and revenue property in the metropolitan area of Montreal. For buying or selling contact Deya at: 514.917.7889
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