The Covid-19 pandemic has had a dramatic and unexpected effect on the Montreal real estate market, sending buying fleeing to suburbs and rural areas in search of more space and greater control over their living environment. A white-hot multiple-offer market, and purchase prices that land 15%-20% above listing prices are threatening to sideline many buyers who find themselves getting priced out of some market segments.
In close to a decade as a residential real estate broker, I’ve lived through wild swings in Montreal’s market cycles, but the Covid buying frenzy is unlike anything I have ever seen, and 2021 promises more of the same with predictions that prices will increase by as much as 21% and the Bank of Canada stating rates will stay put for the next 2-3 years.
As a broker who has been on the buying and listing sides of some pretty insane bidding wars, I am offering these insider tips that just may give you a fighting chance.
