By continuing to use our site, you agree to our Terms of Service and Privacy Policy. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. One thing it didn’t change is the need for housing and contrary to what some predicted, the … The highest forecast for Canadian home prices in a September Reuters poll of 16 economists was price growth of 10% in 2021, while the lowest prediction called for a 10% drop. Check back often for the most current real estate market report stats and news. The “X” factor is international students and immigrants, he said. Jan 5, 2021 | Press Releases, Sales Statistics. TORONTO -- … Even so, CMHC continues to stand by its pessimistic prediction, and Moody’s Analytics projected in September that home prices would drop seven per cent next year. The Quebec Professional Association of Real Estate Brokers (QPAREB) is a non-profit association that brings together more than 13,000 real estate brokers and agencies. Median price increases were also very high for condominiums (+24 per cent) and plexes (+9 per cent). Centris is a dynamic and innovative technology company in the real estate sector. Coming off of the roller-coaster ride that was 2020, the 2021 housing market could hold a few surprises of its own. 52% of Canadians believe real estate will remain one of the best investment options in 2021 RE/MAX Canada is anticipating healthy housing price growth in 2021, with move-up and move-over buyers continuing to drive activity in many regions across the Canadian housing market. Residential Sales – December 2020. THE CANADIAN PRESS/Graeme Roy. © 2021 Montreal Gazette, a division of Postmedia Network Inc. All rights reserved. We ask you to keep your comments relevant and respectful. Why? The next issue of Montreal Gazette Headline News will soon be in your inbox. Yet even this setback will only be temporary, he believes. Roughly half the economists anticipated a decline while half expected a rise. L’ÎLE-DES-SOEURS, Quebec, Jan. 05, 2021 (GLOBE NEWSWIRE) -- The Quebec … According to the Royal LePage Market Survey Forecast, it seems it will continue to be a seller’s market for the foreseeable future. A real estate sold sign is shown in a Toronto west end neighbourhood May 17, 2020. It has two subsidiaries: Centris Inc. and the Collège de l'immobilier du Québec. The Association reports on Quebec's residential real estate market statistics, provides training, tools and services relating to real estate, and facilitates the collection, dissemination and exchange of information. Wow, 2020 was a challenging year. $11.19 average gross rent per square foot Greater Montréal 2.7% total availability rate Greater Montréal 1.6% total vacancy rate Greater Montréal 2.78 million square feet under construction Greater Montréal ©2021, Avison Young Commercial Real Estate Services, LP, Commercial Real Estate Agency. Ottawa, ON, February 16, 2021 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales set another all-time record in January 2021. The median price of a standard two-storey home could rise seven per cent to $656,200, while the median price of a condominium is forecast to increase 3.75 per cent to $382,600. The QPAREB is headquartered in Quebec City and has its administrative offices in Montreal. “I believe three specific markets will see a tremendous advancement in 2021, specifically post-vaccine – the recreational rental markets, the event space category and luxury real estate,” Mak says. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. While demand for single-family homes has skyrocketed, condos — especially tiny shoeboxes downtown — have lost some appeal. With market conditions still very much to the advantage of sellers, median prices continue to accelerate dramatically against a backdrop of overbidding. While the forecast for Montreal was less bleak, thanks to entering 2020 with low supply and high demand, the report predicted sales would slow in 2020, that prices would drop but recover to 2019 levels by the end of 2022. Montreal Real Estate Market: New Sales Records Were Set in December in All Areas. “What drives the market is consumer confidence. Take a walk down one of Old Montreal's cobble-stoned streets and you'll instantly feel like you're walking through the streets of Europe. Comments may take up to an hour for moderation before appearing on the site. I happen to love visual formats so wherever possible you can find video’s, pdfs and info graphics. If there’s one thing we’ve all learned in 2020, it’s that no one really knows what could be coming next. A look at 10 condos for sale in Montreal for under $500,000, How the pandemic has changed Montreal real estate, Montreal-area real estate market appears unfazed by second wave of COVID-19, The hottest Montreal-area neighbourhoods for homebuyers right now, tap here to see other videos from our team, lower-wage positions in service and hospitality industries, predicting a four- to six-per-cent increase, condos — especially tiny shoeboxes downtown — have lost some appeal, CMHC continues to stand by its pessimistic prediction. The median price of a single-family home increased 23 per cent year-over-year. Unauthorized distribution, transmission or republication strictly prohibited. 2020 has been a seller's market with buyers facing competition and increasingly out-of-reach home prices. About the Quebec Professional Association of Real Estate Brokers. Far more said the crisis caused them to spend more on their home: four in 10 chose to move ahead with renovations, and 29 per cent started looking for a place with more space. The median price of single-family homes reached $460,000 (+28 per cent), which is $100,000 more than just 12 months ago. If you don't see it please check your junk folder. While the pandemic did disrupt home sales in the spring of 2020 (which is usually considered the hottest season for real estate), the market quickly made an impressive rebound. The Island of Montreal performed well with a 6 per cent increase in sales, mainly due to condominium transactions, which jumped by 16 per cent. Freddy Mak, the founder of luxury group Palace Row and real estate brokerage Ferrow Real Estate in Toronto, is confident about the upcoming year. But will 2021 feature a buyer's housing market? Prices for these properties could flatline or even dip slightly next year, Gaucher said. L’ÎLE-DES-SŒURS, Quebec, March 02, 2021 (GLOBE NEWSWIRE) -- The Quebec Professional Association of Real Estate Brokers (QPAREB) has just released its residential real estate market statistics for the Montreal Census Metropolitan Area (CMA) for the month of February, based on the real estate brokers’ Centris provincial database. Active listings of single-family homes continued to decline (-51 per cent), particularly in the areas on the periphery of the Island. Summary: National home sales rose 2% on a month-over-month (m-o-m) basis in January. When the world returns to Montreal, downtown condo prices will probably rebound. The report predicts a 6.7% decrease for detached single-family house prices and … The QPAREB is also an important player in many real estate dossiers, including the implementation of measures that promote homeownership. Montreal has an assortment of housing options including apartments, condominiums, and single-family homes, so you'll be sure to find exactly what you're looking for. Residential sales fell by 3 per cent in the Montreal CMA, the first time since 2015 that sales decreased in a month of February. Who’s got it right? Meanwhile, those who have been able to continue earning the same or more since the pandemic are saving money they would have spent on vacations, dining out, clothes and commuting. A national survey released this month by RE/MAX found that only six per cent of sellers said the pandemic led them to sell their home. Quarterly statistics – Barometer for the province of QuebecDetailed and cumulative statistics for the province and regions. And buyers should expect rising prices. Notably, RE/MAX is also predicting a four- to six-per-cent increase in Canadian home prices next year. In 2021, the aggregate price of a home in Greater Montreal is expected to increase six per cent year-over-year to $514,900. A Royal LePage survey found that their real estate agents expect Montreal values to rise by 6%. Photo by Royal Lepage handout / Montreal Gazette Article content Sales by property category: strong growth for plexes (+19 per cent) and condominiums (+8 per cent) across the CMA. Visit our Community Guidelines for more information and details on how to adjust your email settings. According to the Quebec Professional Association of Real Estate Brokers, the listed number of … That’s based in large part on interest rates and employment,” said Georges Gaucher, general manager of Royal LePage Village. https://www.globenewswire.com/NewsRoom/AttachmentNg/20e7964c-f529-41e4-9560-86d071d08131, Association professionnelle des courtiers immobiliers du Québec. © 2021 GlobeNewswire, Inc. All Rights Reserved. It looks like Montreal will continue to be a seller’s market for the foreseeable future. It is responsible for promoting and defending their interests while taking into account the issues facing the profession and the various professional and regional realities of its members. The groups’ Emerging Trends in Real Estate report, released on October 15, paints a picture of a housing market in which buyers, sellers, and developers have been forced to adjust to a plethora of destabilizing changes, from new short-term economic realities to market … We’ll have to wait and see. In 2021, the aggregate price of a home in Greater Montreal is expected to increase six per cent year-over-year to $514,900. Yet a new forecast released Monday suggests prices in Montreal might not fall after all — in fact, they could reach new heights next year. Greater Montreal’s housing market has been on fire of late but sales slipped 3% year-over-year last month—the first time that’s happened in six years—according to data from the Quebec Professional Association of Real Estate Brokers (QPAREB). In contrast, sales fell significantly in all of the peripheral markets: Saint-Jean-sur-Richelieu (-32 per cent), Laval (-14 per cent), Vaudreuil-Soulanges (-10 per cent), the South Shore (-8 per cent) and the North Shore (-3 per cent). Now that they’re spending so much time at home, they’re keen to feather their nests. Sponsored: A look at the Montreal real estate market in 2020 and 2021 | Montreal Gazette. PostPandemic: How COVID-19 is reshaping Canada, Montreal real-estate prices to rise in 2021: forecast. Follow its activities at qpareb.ca or via its social media pages: Facebook, LinkedIn, Twitter and Instagram. According to a report issued this week by the Quebec Professional Association of Real Estate Brokers, home sales have increased by 42 per cent over last … The majority of the jobs lost in Quebec have been lower-wage positions in service and hospitality industries, and these workers are more likely to rent their homes. The coronavirus has dealt a blow to Canada’s real estate market and home prices could fall about 7% next year due to high unemployment and lower incomes, according to a forecast by Moody’s Analytics Inc. “Condominium sales compensated for the decrease in single-family home sales in February. In exploring the latter possibility, Veritas ran three scenarios where between 5% and 15% of homes with deferred mortgages found their way on to the market after their deferral periods ended, resulting in real estate prices falling by 4-11% nationally, 10-17% in Vancouver, and 15-26% in Toronto. Residential Sales – February 2021. We encountered an issue signing you up. Predictions for 2021’s real estate market – Jan 14, 2021. What to expect for Canadian real estate in 2021. Because there are so few homes for sale that even if a flood of new properties hits the market, there is so much pent-up demand it probably wouldn’t be enough to rebalance the scales and bring prices down. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Image bank (credit QPAREB) available free of charge. Among these solutions is Centris.ca, the most visited real estate website in Quebec. We apologize, but this video has failed to load. “Montreal is expected to be the top major market in Canada next year with rent growth of 6%, rising from $1,665 per month forecast for December 2020 to $1,760 per month,” the report said. Read more about cookies here. by Neil Sharma on 11 Mar 2021. Marjolaine BeaulieuPublicistCommunications and Marketing, 1-888-762-2440 or514-762-2440, ext. Montreal Area Real Estate Market. This advertisement has not loaded yet, but your article continues below. Very few people could have predicted this time last year that a pandemic would change just about everything about our lives. That obviously did not happen — in fact, according to data from the Quebec Professional Association of Real Estate Brokers, home sales in Greater Montreal reached record-breaking heights in November, up 32 per cent over last year. There can be sizeable differences in performance between the Toronto, Vancouver, Halifax, Calgary or Montreal real estate markets. Real Estate Canadian home prices predicted to drop seven percent in 2021 Vancouver and Montreal home prices are expected to drop a little less than seven percent If you would like additional information from the Market Analysis Department, such as specific data or regional details on the real estate market, please write to us. L’ÎLE-DES-SŒURS, Quebec, March 02, 2021 (GLOBE NEWSWIRE) -- The Quebec Professional Association of … Sign up to receive daily headline news from the Montreal Gazette, a division of Postmedia Network Inc. A welcome email is on its way. Montreal-area home prices saw a dramatic spike in June as first-time buyers flooded the Montreal housing market following relaxed restrictions on real estate. We have enabled email notifications—you will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. Here’s what to expect for the Canadian real estate market in 2021. 238media@qpareb.ca, A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/20e7964c-f529-41e4-9560-86d071d08131, Quebec Professional Association of Real Estate Brokers (QPAREB), Association professionnelle des courtiers immobiliers du Québec Logo. In 2021, the aggregate price of a home in Greater Montreal is expected to increase six per cent year-over-year to $514,900. "The gap between the median price of condominiums in the downtown Montreal area (decreasing) and the median price of condos in the suburbs (sharply increasing) is narrowing significantly," he added. Gaucher noted that the economic damage of the pandemic has not been equally distributed. Montreal Area Real Estate Market. The relatively lower prices in Montreal and Ottawa are bringing buyers across Canada who are looking to … Despite pandemic, Montreal's real estate market had a record year. After the COVID-19 pandemic began last spring, many economists predicted it would take the wind out of the sails of Canada’s real-estate industry. “To have a vibrant real-estate market, you need the influx of new Canadians,” he said. The most recent statistics for the residential real estate market in the Montreal region are based on the Centris provincial database of real estate brokers. Here’s what real estate and housing experts want you to know about Canada's real estate market in 2021. Increase in active listings of condominiums (+10 per cent), mainly on the Island of Montreal (+54 per cent). The drop in inventory of properties for sale and the skyrocketing prices of single-family homes partly explain the increase in condominium and plex transactions,” said Charles Brant, director of market analysis at the QPAREB. Similar to Montreal, Ottawa has average sold prices at below $600K and is also experiencing a rapid real estate boom with average sold prices up 26% yoy (as of Feb. 2021). ... and Montreal. Canadian landlords have endured a difficult 2020, but there is one metropolis that, according to a Rentals.ca report, is brimming with investment opportunity. With interest rates lower than they’ve ever been, those who can afford it are hungry to buy. ... March 11, 2021… . There was an error, please provide a valid email address. L’Île-des-Sœurs, February 2, 2021 – The Quebec Professional Association of Real Estate Brokers (QPAREB) has just released its residential real estate market statistics for the Montreal Census Metropolitan Area (CMA) for the month of January, based on the real estate … In May, CMHC predicted large declines in Canadian home prices for 2020, which would only begin to recover in the middle of the following year. PwC Canada and the Urban Land Institute recently teamed up to share their take on where Canadian real estate is headed in 2021. With so much that happened across the country, you might be wondering how it’ll impact real estate trends in 2021. remain on the market for very long. It collects data and offers solutions that are highly adapted to the needs of professionals. Please try again. L’Île-des-Sœurs, March 2, 2021 – The Quebec Professional Association of Real Estate Brokers (QPAREB) has just released its residential real estate market statistics for the Montreal Census Metropolitan Area (CMA) for the month of February, based on the real estate …