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"What are the signs it's the right time to sell my condo in Montreal's current real estate market?"
The Montreal Real Estate Board reports that condominium sales have increased by 15% in the past year, indicating a high demand for condos in the area.
According to data from the Centris, the median price of a condominium in Montreal has increased by 27% year-over-year to $400,598 in April 2024.
Real estate agents suggest that condo owners consider pricing their properties competitively, as many condos in Montreal are selling for 95-98% of their asking price.
The average selling time for condominiums in Montreal is around 77 days, making it a seller's market.
The QPAREB notes that active listings have increased significantly, up 16% from a year ago in all property categories, creating a perfect storm for sellers.
Montreal's condo market is thriving, with sales up 15% and listings down 15%, making it an attractive time to sell.
According to real estate broker Luciano D'Iorio, patience is key when buying and selling real estate in Montreal, as timing is everything.
In Quebec, home buyers must use a notary to finalize a real-estate transaction, unlike other provinces where a lawyer can be used.
The City of Montreal offers a home purchase assistance program, which provides reimbursement or exemptions for certain buyers.
When selling a condo in Montreal, it's essential to consider the current market trends and prices of similar condos in the area to price competitively.
Staging a condo to showcase its best features and highlighting upgrades and renovations can make a significant difference in attracting buyers.
A clean and well-maintained property will also appeal to buyers, increasing the chances of a quick sale.
In Montreal, the median price of a single-family home is around $575,000, making condos a more affordable option for many buyers.
Real estate agents suggest that condo owners consider the long-term benefits of selling, such as the potential for a 100K profit before sales expenses.
When choosing a realtor to sell a condo in Montreal, it's essential to research and find an agent with local knowledge and expertise in the condo market.
The Greater Montreal area has seen an all-time high of 2,225 sales, indicating a strong demand for condos and other properties.
In Montreal, the plex market is also thriving, with prices up 27% year-over-year, making it an attractive time to sell.
According to the Centris, there are over 5,259 condos for sale in Montreal, offering buyers a range of options.
Real estate agents recommend that condo owners consider working with a realtor who knows the local market and can provide guidance on pricing and marketing.
The Montreal condo market is highly competitive, with many buyers seeking out newer buildings with modern amenities, making it essential to showcase a condo's best features.
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