So what's going on in the real estate market?
February 2013 saw some interesting trends for the province of Quebec and the Greater Montreal Area. Quebec saw a decrease in sales by 19% in February 2013 compared to February 2012 and an increase in active listings by 7%. The median price of single family homes increased by 1% and the average days on the market was 102.
Montreal saw an increase by 10% in active listings and a decrease in sales by 22%. The median price of single family homes increased by 2%, whereas there was a 6% increase in the median price of revenue properties (duplex, triplex, etc.).
What does this mean for you as a client?
It is a buyers market! With continued low interest rates, increases in the number of available listings (choices), and decreases in overall sales.