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Update of the 2023 real estate market in the Greater Montreal area

Since the beginning of the year, the real estate market is experiencing strong activity compared to the last months of 2022.

Despite rising interest rates, buyers are once again confident and active in the market. Viewings on properties for sale have increased and we are still seeing properties that are in multiple promise to purchase situations which is creating bidding situations.

In addition, some properties that have been on the market for a year have already been sold at the beginning of the year. This already shows that the market is very active and offers many opportunities for buyers and sellers. Despite the drop in sales from January 2022, it remains that activity is on track for the spring 2023 season.

Another factor driving the growth in activity is rising rental prices. Many renters are choosing the option of buying a home instead of staying as a renter. Buying for them becomes a financial investment by providing a sense of security while creating their own home to live in.

Whether you are in the market to buy or sell a property, 2023 looks better than what was predicted at the end of 2022!

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