The Conference Board of Canada recently noted that we in the Outaouais, were generally in a balanced market - leaning towards a buyer's market - meaning that the advantage tended more on the buyer's side for a while. During time like this, it goes to reason that sellers should not attempt to price too speculatively - if at all - until things change.
Here is the page of the Quebec Federation of Real Estate Boards that reports directly on our region of the Outaouais. (The text is in French but the numbers are in English) Please call me if you need help with some of the headings.
It shows that generally, sales are down 8% and total dollar volume down 13% during this 4 month period. Over the last 12 months, sales down 5%, - sales volume even.
Single homes (unifamiliale) down 6% for 1st 4 months and -3% over 12 months. The median price is down 3% for the 1st 4 months and up 1% for 12 months.
The box labeled "tableau 3" at the bottom right of page 11 again summarises a "buyer's market" for all price categories.
Will the passing of the Quebec election and its results have a beneficial effect? The market should reveal itself on this soon as the sun warms up and the tulips bloom.