Real Estate Rates in Montreal

When you decide to buy real estate, you want to be sure to find the perfect deal: the house you’ve always wanted at a low price.

Of course, this doesn’t happen all of the time.

Montreal is not an expensive city and real estate in Montreal tends to be far cheaper than in other big cities. However, earlier this year, the prices went a bit higher than usually. Real estate company Royal LePage reported that the prices increase year over year;  but, the tendency seems to be slightly changing.

Indeed, by the end of 2010, the number should be shrinking, as supply grows and demand from first-time buyers decreases.

According to a survey, in 2009, the average second-quarter prices in the Montreal area were $255,906 for a detached bungalow, $226,048 for a standard condominium and $357,833 for a standard two-storey home.

The two more active months were April and May. Buyers chose to buy at that precise moment for various reasons, the main one being that interest rates were expected to rise, thus, buyers wanted to enter the market before that rise.
The rest of this year, real estate should be calmer than at the beginning of the year. A slowing market and stabilizing prices are expected in Montreal and its greater area.
Photo Credit: Wikipedia

About the Author:

Living in Montreal since 2005 after France and the United States, I want to share with you how much I love Canada and my advice to successfully immigrate to Canada!

Leave A Comment