Home Real Estate Montreal real estate: Sellers market remains as prices increase by record levels

Montreal real estate: Sellers market remains as prices increase by record levels

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MONTREAL —
Jacques Leclerc moved to Montreal from Detroit in 2019 with a simple plan.

He and his fiance Emily Ciccia planned to rent for a year and then buy a place with a 20 per cent down payment in Montreal.

It’s 2022, and the couple is still renting in Pierrefonds, frustrated, and starting to think a house purchase is not going to happen.

“Honestly, I never think we’ll be able to afford anything on the island, not at this rate,” said Leclerc.

ISLAND OF MONTREAL OUT OF REACH

The couple recently put in a bid over asking price on a house in St. Lazare, but they were outbid. It was a result they had already experienced a number of times on the island and were now having to deal with in the suburbs.

Leclerc is one among many potential home buyers seeing record increases in house prices influence where they can afford to purchase, if they can at all.

Royal LePage’s recent House Price Survey for the Greater Montreal Area…

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