Quebec's real estate market is getting pricier and for aspiring homeowners, it might feel like chasing a moving target. Recent figures show some cities in the province are seeing house prices soar, and not necessarily where you might think.
Nestled on the side of Lac Tremblant, this cobblestone manor sits in silence, waiting for its turn to be adopted. Unbeknownst to the sleepy mansion, its net worth has decreased by more than most Quebecers will see in their lifetime.
Montreal's housing market is not what one might call "healthy" or "affordable," with home sales at their lowest level in the last 10 years, according to a report from the Quebec Professional Association of Real Estate Brokers (QPAREB) using Centris data. This is partially explained by the fact that many first-time homebuyers struggle to qualify for loans, especially in the current economic climate.
Montreal's housing market may be punishingly expensive, enough that $300,000 can only buy an average of 500 square feet in the city. But outside of Montreal, elsewhere in the province, there are many more opportunities to snag a 1,000+ square foot home for less sometimes much less than 300 big ones.
Looking for a home to buy? Considering home prices in Montreal have jumped, it's certainly no easy feat to find a Montreal home for sale for under $400,000. Well, thankfully there are a few gems across the 514 that offer up affordable single-family homes and there's one for sale right now through duProprio in Montreal-North. The three-bedroom and one-and-a-half bath spans nearly 1,600 square feet across two storeys and just might be what you've been looking for.