July 2023 : Real Estate Updates

In this article, Kyle Shapcott, real estate broker and leader of the Lacasse Shapcott team, shares his updates on the real estate news of July 2023.As we approach the second half of the year, the Montreal real estate market remains a lively topic of discussion. With constant fluctuations and emerging trends, it is essential to stay informed to make enlightened decisions. In this article, we will explore the current trends in the Montreal real estate market and the prospects for the future.

• Deep Analysis of the Montreal Real Estate Market

The Montreal real estate market had an active start to the summer but remains behind compared to the previous year. The second quarter of this year saw sales fall below the historical average, signaling a cautious return of buyers to the spring market.

• Understanding the Dynamics of the Montreal Real Estate Market

As experts in the Montreal real estate market, we can only observe that the market is constantly evolving. Despite generally low transaction activity, prices have managed to rebound, offsetting some of the losses incurred since the summer of 2022. This dynamic is to be analyzed keeping in mind that the real estate market is influenced by a multitude of factors, ranging from interest rates to general economic conditions, which remain uncertain in many regions of Canada and the world.

• Towards a More Balanced Real Estate Market in Montreal

While active listings have increased by 36% over the past year, they remain at historically low levels. This means that even if more properties are put on the market, demand remains higher than supply. This is good news for sellers, who can often get a higher price for their property under these conditions. However, the trend seems to be moving towards a more balanced market with the return of buyers and an increase in listings, we could see greater competition and a stabilization of prices in the near future.

• Conclusion

In conclusion, although the Montreal real estate market has faced challenges over the past year, signs of recovery are encouraging. By keeping an eye on market trends and remaining adaptable, you can make the most of your real estate transactions, regardless of conditions.

If you are looking for a team of trusted brokers to assist you with your real estate projects in Montreal, do not hesitate to contact us. Our expertise and deep knowledge of the Montreal market ensure success and achievement in your projects.

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Article “July 2023 : Real Estate Updates” written by Kyle Shapcott, leader and real estate broker, Lacasse Shapcott Team,