ARTICLE · 21 JUNE 2017

Vancouver, Toronto, Now… Montreal?

Devry Smith Frank LLP

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Housing in a number of cities across Canada has been put through the wringer over the past year or so, creating a difficult time for local buyers and a great time for people looking to sell.

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Devry Smith Frank LLP

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Housing in a number of cities across Canada has been put through the wringer over the past year or so, creating a difficult time for local buyers and a great time for people looking to sell.

With Vancouver's prices rising they implemented measures to cool it down, leading real estate investors to move east, to Toronto. Toronto then followed in Vancouver's footsteps, implementing their own measures. Now that Toronto is beginning to cool down, Montreal is next in line.

Montreal had an average price of $319,000 in May for a single-family home. Significantly discounted when you compare Toronto's $1.1-million average last month, and Vancouver's $1.56-million price tag.

In May, Montreal saw a 15 per cent increase in sales compared to the previous year, according to stats released by the Greater Montreal Real Estate Board.

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