Your #1 Source of Montreal Real Estate News

Why September is the Best Month for Buying Real Estate

0 39
Estimated reading time: 1 minute, 22 seconds.

While sellers start stressing and considering taking their homes off the market, September may be the smartest month this year to actively shop for a home.

There are 4 reasons that come into play, giving buyers the upper hand:

1. High Supply

Currently, there are 12 units for every buyer in the Greater Montreal Area. This gives buyers a wide selection to choose from, and a greater ability to negotiate on price.

1

2. Low Demand

With kids back in school and summer fading away, most Montrealers no longer have the time to shop for their dream home. Many buyers claim that if they haven’t found a suitable investment by the end of August, they’d prefer to wait until the following Spring. This noticeably affects the amount of visits at open houses and requests for property showings. And, of course, it causes motivated sellers to drop their asking prices as inventory takes longer to sell and their pricing power weakens.

3. Mortgage rates are still low.

As of today, the lowest mortgage rate in Montreal is 1.85% on a 5 year variable closed mortgage (True North).

 

Want to stay informed on the latest real estate news?

Subscribe to get the latest news delivered straight to your inbox every week

Leave A Reply

Your email address will not be published.