In an article recently published by the economist Camille Laberge on the website of the Quebec Federation of Real Estate Boards, statistics show that several markets across the province can now be said to be seller’s markets. The number of properties for sale has decreased since last autumn, for the first time in five years. The number of actual residential sales has increased since 2015, a surge that has continued for twelve of the seventeen Administrative Regions.
Camille Laberge writes, “The increase in sales, combined with a decrease in supply, is reflected in market conditions, especially for single-family homes, where a decrease in the number of months of inventory (NMI) was observed in several regions.”
In looking at the list of market conditions across the province, however, more than half of these regional markets continue to be buyer’s markets, so we will need to wait a while before observing a real change. There were only nine markets favoring sellers observed in the first quarter of 2016: Saint-Bruno, Saint-Lambert, Boucherville, Beaconsfield, Brossard, Longueuil, Dollard-des Ormeaux, Town of Mount-Royal and Marguerite-D’Youville. Other regions either continue to be buyer’s markets or they are demonstrating stable market conditions – the City of Montreal itself is stable, as are Laval and the Laurentians.