The Vaudreuil-Soulanges region really has the wind in its sails. Despite the pandemic and the uncertainty it brings to the economy, the residential market is experiencing a 62% increase in transactions.
In greater Montreal, the number of transactions has increased by 39% according to the Quebec Professional Association of Real Estate Brokers. The winning region is undoubtedly Vaudreuil-Soulanges where almost double the increase in transactions took place. The situation is that many real estate professionals say the market is currently favorable to sellers.
Interestingly, buyers are currently competing to acquire a property. It’s not uncommon for sellers to receive more than one offer to buy. Consequently, several transactions are concluded with a higher price than the one initially entered. In order to speed up the process, some buyers even offer to complete the transaction without first having the desired property inspected.
The six main sectors of the metropolitan region experienced strong growth in August. But it is in Vaudreuil-Soulanges that the situation is most spectacular. In addition to the staggering increase in the number of transactions, the average price of single-family homes has increased 24% from August 2019. It is now $ 427,500.
Increase in numbers
- $ 427,500 Median house price is up 24% from August 2019
- 4,878 residential sales last month are up 39% compared to August 2019
Percentage increase in transactions in the six main sectors of the metropolitan area in August 2020
- Vaudreuil-Soulanges: + 62%
- Rive-Nord: + 51%
- Laval: + 48%
- Rive-Sud: + 39%
- Island of Montreal: + 29%
- Saint-Jean-sur-Richelieu: + 17%
