Vaudreuil-Soulanges is truly a choice of preference when it comes to buying a property. In November 2020, there was an increase of 32% compared to November 2019.
The Quebec Professional Association of Real Estate Brokers (QPAREB) unveiled its data for the month of November on Thursday, December 3. The number of transactions reached a record high for a month of November for the Montreal Census Metropolitan Area, according to the real estate brokers’ Centris provincial database. The director of the market analysis at QPAREB, Charles Brant also confirms a historic increase of 57% in new listings for condominiums on the island of Montreal.
Teleworking
For several years it was customary to live near your workplace. This reality seems to be definitely over. Teleworking makes a big difference. Now well established, teleworking is an incentive for several companies.
Monique, director for a personnel recruitment company, explains that the territories are now a thing of the past. “Since teleworking is now the ideal solution to avoid contact, the way we recruit has changed, said the woman. Currently, we have several clients in Montreal and Quebec who hire workers and they are only teleworking. It’s a win for the company and for the worker. To give you an idea, we have a client in Baie-Comeau who was looking for an analyst. We found the ideal candidate for her. The worker was hired even if he lives in L’Île-Perrot. Since he will be teleworking, he could live in any area. He just needs to have access to a good internet connection.”
Same story for Phil Soper, President and CEO of Royal LePage.
“On lakes, by the sea, on top of mountains and in coveted territories, many people have enjoyed a new doctrine of teleworking, ‘I can live where I want in this huge country’.”
Prices explode
In 2020, the median price of a single-family home in Quebec’s recreational markets rose 14.7% to reach $ 236,628. The price of a waterfront home rose 15.1% to $ 255,502, and the median condominium price rose 13.1% to reach $ 236,187.
“The province of Quebec is where the confinement during the first wave of COVID-19 was the longest in the country. This has created an imminent need for many residents in urban areas to relocate to the suburbs to gain superior living space”, explains Éric Léger, Chartered Real Estate Broker at Royal LePage.
The broker confirms that the vast majority of recreational areas in the province have also experienced a significant increase in real estate sales. “The additional demand for recreational properties driven by sanitary restrictions in an already strong seller’s market has created more competition in regions of the province”, said Léger.
All regions surveyed in Quebec reported an increase in the number of buyers looking for a property conducive to teleworking. Seventy-five percent of regions have seen a dramatic increase in primary residence buyers and a majority have seen an increase in retired buyers.
As an unprecedented year ends, Léger predicts that prices and demand will continue to increase in 2021 in the province, but at a slower pace than we experienced in 2020.
“Teleworking is here to stay in many cases, which will continue to draw buyers into the countryside and continued low interest rates will further contribute to housing demand this year.”
