How will demographic changes affect Montreal real estate?

Over the last 50 months, the menu of homes for sale in Greater Montreal has diminished every month. Meanwhile, the number of sales keeps increasing. DAVE SIDAWAY / The Gazette House-hunting is more frustrating than it used to be. Four or five years ago, buyers had a buffet of options to choose from. In today’s market it’s more like being at a 5 à 7 where the platters are circulating yet...

The trouble with home inspectors

Montreal's benchmark home price was $349,300 in January, up 6.3 per cent from a year earlier. That's still far less than the Vancouver price of $1.02 million, which is down 4.5 per cent. Canadian Press A pre-sale inspection by a professional promises home buyers peace of mind that they aren’t moving into a money pit. But there is a big problem with the home inspection industry that many buyers...

What can a homebuyer get for $500,000 across Canada right now?

I should have known better than to ask a Vancouver realtor how much half a million could get you in Lotusland these days.“It’s pretty easy,” laughed MacDonald Realty broker Dan Scarrow. “It’s a one-bedroom condo. That’s what you can get for $500,000.”To find a detached home at that price point, he said, a buyer would likely be driving an hour or more outside the city.Scarrow, who...

Building a dynasty on a dépanneur: Generational tensions aren’t all ‘OK Boomer’

Hercules Tsoudis may be Boomer-aged, but he’s no Boomer. Allen McInnis / Montreal Gazette As property values and taxes rise throughout Montreal, property ownership prospects are fading for many of the city’s younger citizens. Real estate prices in cities across North America have been trending upward for a decade, and much of the most desirable stock is owned by people who bought it cheap in...

Rent or buy? Montreal millennials weigh in on the homeownership debate

Young professional Montrealers face the inevitable question: rent or buy?They’re discovering that when it comes to homeownership, there’s a balancing act between being financially ready to own a home or condo in the city, or risking waiting too long and getting priced out altogether. With house prices continuing to rise, there may be no time like the present, whether you’re ready or...

Montreal real estate market displays ‘unusual vigour’ into November

“It’s fair to say the market is overheating,” says Charles Brant of the Quebec Professional Association of Real Estate Brokers. Pierre Obendrauf / Montreal Gazette Autumn’s chills have done nothing to dampen real estate activity in Montreal.Transactions and average prices in the Montreal metropolitan area climbed yet again last month while selling times shrank, according to the latest...