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BROKERAGE 

SALES - PURCHASES 

Real Estate Brokerage Service.

Our properties are listed on CENTRIS, MLS and REALTOR.

We are members of the Organisme d'autoréglementation du courtage immobilier du Québec (OACIQ) & the Quebec Professional Association of  Real Estate Brokers. 

APPRAISALS

SELLING - SHARING VALUES - LEGAL - ESTATES

Professionnal Real Estate Appraisals.

Our expertise in real estate appraisals can ensure our customers' best interest with optimal results. Our reports are conform to the standings and expectations of The Quebec Chartered Board of Appraiser's Association.

 

REAL ESTATE NEWS

Home prices dropped in Montreal

August 2023

Canadian home prices continued to rise in July, according to the Teranet Index—National Bank of Canada

 

The July index was up 2.4% compared to June, after seasonal adjustment.

 

This was the fourth consecutive monthly increase and the second largest price increase on record in a single month after July 2006.

 

Eight of the 11 markets in the composite index rose during the month, with Halifax being the fastest-growing market at 4.9%. Vancouver gained 3.9%, while Toronto added 3.5%.

 

Prices fell 1.2% in Quebec City, 0.9% in Montreal and 0.3% in Calgary.

 

Compared to the previous year, the overall composite index fell by 1.9% in July.

Return to balance

June 2023

In this second quarter, there is a renewed activity in the resale market, fuelled by spring demand. The latter still remains to the advantage of sellers, but tends towards balance, with a slight increase in the number of properties for sale leading to a certain stabilization of prices.

 

Property demand is expected to weaken in the second half of the year as supply continues to recover. This will make the market more balanced and may even tip slightly in favor of buyers believe Desjardins' economists, Hélène Bégin et Maëlle Boulais-Préseault.

Based on the scenario outlined, the average price would fall by about 5% from the summer until the very beginning of 2024, inflating the two-step correction decline to 10% between the February 2022 peak and the low at the turn of 2024. Economists are thus correcting their previous forecasts, which predicted that prices would fall by 17% until the end of 2023, they stress. With all of this, the onset of a decline in interest rates expected at the turn of 2023…

In the forecast

May  2023

 

. The Canadian Real Estate Association expects the average price of a home to end the year with a 4.8% decline from 2022, but expects prices to rise roughly the same in 2024.

. These forecasts suggest an average price of $670,389 this year and $702,214 next year, with prices expected to increase by 4.7%.

 

. The association also expects home sales to fall 1.1% to 492,674 this year, before rising 13.9% to 561,090 in 2024.

. According to the latest TD Bank Economics report, released on April 4, the number of transactions in the Quebec market, after a 20.4% drop in 2022, is expected to decrease further by 20.5% in 2023, before recovering by 6.7% in 2024.

 

. TD is still forecasting that the average price of Quebec homes, which had increased by 9% in 2022, should drop 4.2% in 2023 and then regain 1.8% in 2024.

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