With the approach of the holiday season and the year winding down, one would tend to believe that the it is not a good time to buy and sell real estate in Montreal. However this is a common misconception. The exact opposite is true. In fact the Montreal real estate market really does not take any time off.
For buyers, the approaching holiday season is a great time to take advantage of possible deals on a variety of properties including condos, single family homes, and revenue properties. Certain listings have been on the market for a few months now and a sense of desperation usually develops in those sellers. This is because they often think that the period following the holiday season, the cold month of January in Montreal, will not bring many buyers through their doors. This leads them to believe that their property most likely will not sell until the spring. This is a difficult idea to swallow for a seller who has been on the market since the past summer. In comes the desperation and possibly the willingness to accept less money than they normally would have for their property. Therefore this is an ideal time for buyers to get out there, visit some properties, and write up some offers.
For sellers who have been contemplating placing their property on the market in the new year, there is not a better time than the present. There are a number of reasons why sellers should place their property on the market during this holiday season. For starters, there is generally a lack of inventory during this time of year. Coming on the market now ensures that the property is not lost in a sea of other listings coming on the market. The competition from other vendors is much weaker. Also, seeing that the interest rates are currently fairly low, they will probably be going up. This means that property values will generally be on the decline. These and other reasons strongly demonstrate that placing a property on the market now as opposed to later is a good idea.
