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The year ahead: Navigating Montreal’s real estate market in 2018

The year ahead: Navigating Montreal’s real estate market in 2018

2017 marked a significant shift in the Montreal market, especially for the West Island. Low inventory, combined with low interest rates and strong economic factors led to the type of hot market activity we haven’t seen in over a decade. Sales were up 15% and median prices increased 6% in Montreal for single-family homes. Many West Island municipalities saw double-digit price increases for the first time in recent memory.

West Island communities are hotter than ever

Homes are frequently selling above asking price after receiving multiple offers. In fact, Pointe-Claire and Beaconsfield actually had the greatest percentage of homes selling over asking price throughout the entire province.

Looking ahead for 2018

It’s expected that Montreal will remain a force-of-nature in Canadian real estate in 2018. The city’s economy is forecast to grow by 1.9% in this year; this positive outlook, combined with factors such as low housing inventory, will continue to spur explosive growth throughout the city for at least the first half of the year.

Tracking external factors

The city is viewed optimistically by real estate investors as a promising and affordable market relative to other major Canadian cities, making it increasingly attractive to overseas buyers seeking to avoid Ontario’s 15% tax on foreign buyers. Canadians from other provinces are also looking to the city in response to increasing home prices in Vancouver and Toronto.

Understanding new rates and regulations

With an increase in the key interest rate already in the books for 2018, it remains to be seen how this bump, coupled with the new Office of the Superintendent of Financial Institutions (OSFI) stress test regulations will impact the Montreal market.

Buyers seeking a mortgage must now qualify against the Bank of Canada benchmark rate, or their pre-approved rate, plus 2% (whichever is higher), reducing borrowing capacity by a minimum of 18.5%. The effects of these changes have yet to be seen, with some analysts predicting a drop in house prices, and others reporting that many first time buyers may need to decrease their budget or delay homeownership all together. However, it’s expected that blue chip markets, such as the west island communities we serve, will be least affected by these changes.

Working with local experts to optimize your experience

With complex market conditions and new regulations to decipher, local market intelligence and the value of an experienced broker are more important now than ever before.

Looking to sell your home? Having a broker who is absolutely in tune with your local market is key. Thanks to decades in the business, Deakin brokers have a unique understanding of the communities we serve, and are up-to-date on current listings, including homes under contract with offers, and specific buyers in the market that may impact outcomes.

In the market as a buyer? Our brokers can guide you through the competitive landscape and advise you on how to decide when a home is right for you and your family. In today’s market, that often means helping buyers know when to go “all in” on a property and when to stand back and let market exuberance run its course. Our ultimate goal is to create long-term value for our clients

Thinking of buying or selling your home in 2018? Contact us to learn about how our local experts can guide you through the process.

As a non-profit agency, our survival is linked to those people in our community who have the kind of dedication & commitment shown by Deakin Realty. Keep up the good work.

Amcal Family Services

I just wanted to thank you for making all of this as easy and painless as possible. Your professionalism, initiative, positive attitude and willingness to take time to explain the process made the deal unfold very smoothly.


Ali a été d’une aide précieuse pour nous trouver LA maison qui nous convenait, ainsi que pour nous aider à miser sur les atouts de notre maison pour la vendre au bon prix. Il est à l’écoute des besoins et est d’une grande intégrité.

Andre & Martine

You are truly awesome. Pointe-Claire is a very lucky place to have you guys at the heart of it.


Thank you for taking care of my mother ‘above and beyond the call of duty’


Thank you for a job well done. We’re both so excited to have clinched the deal of the year in Beaconsfield.

Denise & Gary

Thank you so much for all your time, help, advice and patience in getting my house sold. I really appreciate it!


Hey John, we really wanted to take the time to properly thank you. You were always there for us, and put alot of time into our home with all the advice and visits. We really appreciate it! You'll always come highly recommended by us.


Having such a well organized group looking after us made our house hunting trip all the easier…those added touches you do really make all the difference between ‘good’ and ‘the best’.

Laura & Daniel

We really enjoyed working with Ali... we never felt pressured... He listened and respected our priorities... he also looked out for our best interests... Thank you so much for all your help.

Joy & Richard

We would like to thank you so much for all your hard work in finding our first home. Your patience, professionalism, friendship and perseverance was greatly appreciated.

Christina & Kevin

As a first time buyer, I had a lot of questions and you took the time with me. Not all agents would have done this - I know, since I dealt with others before meeting you.


Deakin Realty displayed great professionalism in every aspect of their work and in all cases they made sure the transaction was good for all parties.


You and Jay did everything we asked for and more, and talked me off the ledge more than once. We were so impressed, and we wouldn't hesitate to recommend you to others.

Pamela & Doug

Thanks again for all your help with everything! You were fantastic, and Stef and I are thrilled that we were able to have you as our broker.


The Deakin team made our relocation from Halifax a pleasurable experience. Their professionalism and knowledge of the real estate market helped us find the perfect home.

Jason & Shannon

To the Deakin team - thank you for going above and beyond!


Thanks again for all your help, advice and patience during the purchase process. You really went above and beyond the average real estate broker's duty.

Matt & Anita

You thought of every detail inside and out - a job well done to you and your team!


Deakin Realty provides their clients with total professional, businesslike, and enthusiastic care. They talk to you. They get results. What more could you look for in a real estate firm?

Walter & Pamela

Nancy, thank you for all your help and invaluable guidance!

Katy & Kevin

We just wanted to thank you so much for all you've done for us over the last year and a half. We always felt like you were sincerely putting our best interests first throughout this entire process.

James & Amanda

Jay, the whole experience dealing with you was efficient, seamless and painless. You are a true professional and a good advisor. I felt I was the only client you were dealing with.


Jay, I know you did a lot of hard negotiating to arrive at a mutually satisfactory solution and we need to congratulate you for that. Thanks for your very significant effort.

Mike & Anna

Encore merci pour nous avoir guidés tout au long de ce processus. Vous offrez l'équilibre parfait entre professionnalisme et humanité.


We would like to thank you again for helping us find a great home and for all of your advice over the past couple of months. We'll definitely recommend you to our friends...

Christina & Rob

Thanks for finding our perfect house. We were out of town and trusted you to make an offer without actually seeing the house. Serious trust and you never let us down.


I would not consider making a sale or purchase in the West Island without involving Deakin Realty


Merci d'avoir pris soin de ma mère et ce plus que votre travail ne l'exigeait.


Thanks for everything you have done. It has truly been a pleasure selling through you.


Thanks again for all your help... attention to detail... sanity checks... moral support... hand holding... i.e. the usual wonderful Nancy Deakin service!!

Sandra & Larry

You listened and went far and beyond what any other real estate organization could or would do. We are happy to say that we consider you a friend and look forward to working with you again.

The Adrian Family

Jay’s knowledge of the housing market was critical in helping manage the sale of our condo and the purchase of our new home. His practical and helpful recommendations made things easy on both ends.

Rob & Sonia

Thank you for everything you have done. It was a wonderful experience selling my house with your help.


Nancy, thank you for all your hard work and patience, and for not giving up on us during this house hunt.

Stefano, Melissa & Zara

Deakin Realty achieved the best possible result: a lease that pleased both landlord and tenant. We were so impressed with Nancy and her team that we asked them to work on another project for our company.

Richard King - Owner – Elm Plaza

Thanks to you and the Deakin team for everything you did for us. We really appreciate working with knowledgeable and experienced business people.

Fred & Lynn

Thank you for your prompt advice and help. It was nice to feel welcome to call you and have your support.

Eric & Janice

Thanks ever so much! It was our lucky day when we met you. You can always count on us as reference for your future clients.


Thanks for treating us like family!

The Halls

Thanks for everything, as you can imagine we have every reason to be grateful for your help.

George & Martha

Merci beaucoup Nancy pour ton dévouement et ta patience. Nous sommes très heureux d'avoir fait cette très belle acquisition!


You are incredibly professional even in the throes of an emotional and stressful decision. Thanks for your patience - we are thrilled with our new purchase!

Namta & Sara

Your help & professionalism throughout the buying process, and your ‘words of wisdom’ during our selling process have been greatly appreciated.

Sophie & Mark

Jay, you truly could not have handled this tricky sale better and we will sing your praises to everyone we know.

Jen & Dave

Thank you for everything John. You have been so dedicated and helpful throughout our journey!


You were understanding, professional and endlessly patient throughout this sometimes challenging process. You went out of your way to make it work out, both for us and for our "perfect" buyer.


Thanks for understanding our needs and finding our family a great home! We would highly recommend Deakin Realty to anyone who is interested in buying or selling.

The Brown Family

Thanks again for everything you have done to help us through this difficult (more difficult than normal in this case) process, and for your patience with me.

A & M

Thank you for your sensitivity and kindness. We also appreciated your level of professionalism and knowledge in the handling of our file.

Bruce & Lillian

This is just a quick thank-you for all of your wonderful help in finding our first home. We really appreciated your patience, honesty and attentiveness. You may all rest assured that we will recommend Team Deakin.

Sonjali & Devi

Merci pour tout votre support et votre patience!


Thanks again for your good work, Nancy - you were right about the price and the timing for the sale! A celebration is in order.


I'm not sure we can ever fully express how much we appreciate all you have helped us with. It has been a stressful time but was made much less so through the referrals you gave us.


In our business, referrals are important to both the referring party and the receiving side. Thanks so much for a job well done. I hope to refer your family more business.

Peter Blanchard, President - Terramont Real Estate Services

Deakin Realty met all of our objectives and helped make our condo project a success. They are proactive, highly professional and capable of adjusting to changing conditions.

Marc-Andre Legault - Developer - Les Cours Sherbrooke

Thank you very much for all your help in our transactions ... it was a delight working with such a professional!

Patrick Ducharme - Banque Nationale du Canada

You are a true angel in disguise. We can never express our appreciation for the knowledge, service and kindness you have shown.

Jane & Larry

I appreciated your expertise, competence and advice. These confirmed that my insistence on having you as the sole agent for my property was the right decision.


I couldn't have imagined this going any smoother than it did. Thanks for a well thought out plan and execution.

Marcel & Liz

Thank you once again for guiding us through this process. Your ability to balance professionalism and the human aspect of this process is top drawer.


I was really worried about finding the "right" person to work with my Mom. Your approach, patience and sense of humour won her over right away, and your follow up has given all of us a lot of comfort through this. Jay, I could not imagine a better fit.


You are a marvel as Mom is so very comfortable with you and John. You are stars and much appreciated.

Cydney & Les

You have a way of treating your clients as they are you only client. You always responded within hours of a call. That is what I call great customer service.


We realized that we were dealing with a real estate “advisor” - who not only knows the local market and homeowners themselves, but an individual that thinks outside the box and brings creativity and enthusiasm to a profession that he truly loves.

Mark & Kelly

We appreciate all the efforts, dedication and patience you are putting into finding us a house. Thank you for everything that you are doing for us.

Martin, Natalie & the girls

We are so very appreciative of all your efforts in selling our home and finding a new one. The Deakin Realty family is truly professional.

Kathy & Brian

Merci pour tout! Ça a été un vrai plaisir de vendre par votre intermédiaire!