Living in Laval - La vie à Laval

…which is not exactly surprising to us. What *would* be surprising is that somebody reads this today amidst the Obama-mania going on right now.

This headline just sums up that the market is healthy and active in Montreal and Laval, and there is no major reported slowdown in sales as is going on in other markets such as Vancouver and Toronto.

Also not surprising is this comment: “The introduction of new rules relating to the maximum amortization period and the minimum down payment required for insured mortgages may have prompted a number of households to purchase earlier than planned”, said Stéphane Duguay, Market Analyst at Canada Mortgage and Housing Corporation.

Laval’s numbers remain at par with the last time we wrote about market stats: prices are steady, and the number of sales since the same time last year dropped by 9% in much of western Laval while the number of listings in that area increased by 11%. Lots of buyers were taking advantage of their 40-year mortgage pre-approvals before it was too late.

In eastern Laval, the market hasn’t changed much since last year, with only a 1% drop in sales, and prices still going up.

So while neighbourhoods like Fabreville, Ste-Rose, and Ste-Dorothée are still considered a seller’s market- that only applies to those who were successful at selling. In other words, vendor competition is going up, so your property better be in tip top shape to grab the attention of a buyer willing to pay top dollar. As for the rest of the sellers, be prepared to wait much longer before your home is sold- this is the time when you need a good agent more than ever. Be sure to hire a good one and hold them accountable to their marketing plan. What- they don’t have a marketing plan? Seriously reconsider hiring them.

If you’d like more information, don’t hesitate to give us a shout at info@mar-vo.com or call 450.472.7007.

Sources:
GMREB; CMHC