Montreals red hot real estate market
drop in inventory and sustained demand has resulted in the largest appreciation of house prices in five years.
Prospective home buyers and house sellers are probably already aware of this, but Royal LePage says the Montreal housing market is red hot.
In a release this morning, the real estate agency says a drop in inventory and sustained demand has resulted in the largest appreciation of house prices in five years.
In the third quarter, the average price of a home in Montreal jumped 4.9% to almost $353,000 ($352,798).
The company also says despite the increase " prices generally remained reasonable, in comparison with other large Canadian cities..."