{"id":5300,"date":"2018-08-18T15:56:01","date_gmt":"2018-08-18T19:56:01","guid":{"rendered":"http:\/\/genestmarinacci.com\/?p=5300"},"modified":"2018-08-18T15:56:01","modified_gmt":"2018-08-18T19:56:01","slug":"montreal-real-estate-market-bidding-wars","status":"publish","type":"post","link":"https:\/\/genestmarinacci.com\/en\/montreal-real-estate-market-bidding-wars\/","title":{"rendered":"Montreal’s Real Estate Market: Bidding Wars"},"content":{"rendered":"

Canadian real estate market has been headlining news for months now<\/a>, but Montreal’s market seemed to be growing steadily without difficulties. The new Greater Montr\u00e9al Real Estate Board’s report<\/a>\u00a0is clear: local property sellers currently have a serious advantage.\u00a0<\/strong><\/p>\n

Local Real Estate Market is Hotter than Ever<\/h2>\n

\u00ab The Greater Montreal Real Estate Board reported home sales increased in July for their 41st consecutive month, hitting an eight-year high for the month. The median single-family home price rose six percent compared to the same month a year ago to $336,250 \u2014 still much lower than in Canada\u2019s biggest market of Toronto, where the average home price stood at $782,129 in July \u00bb, says the Financial Post<\/em><\/a>.<\/p>\n

This increase can be explained by multiple factors. First, Montreal’s occupancy rate is really high, making affordable properties rare and, therefore, increasing the prices offered. New foreign buyers and a flourishing local economy also make for a very healthy real estate market.<\/p>\n

Bidding Wars: a New Phenomenon in Montreal<\/h2>\n

\u00abMontreal\u2019s sizzling real estate market has spawned bidding wars, a common occurrence in recent years in the frenzied Toronto and Vancouver markets, but a rare phenomenon in Canada\u2019s second-largest city \u00bb, says Global News<\/em><\/a>.<\/p>\n

In such circumstances, property owners receive many interesting offers allowing them to choose the highest bid and, therefore, keeping buyers on the ropes. If Montreal’s real estate market currently favors sellers that literally get more than they asked for, it’s a whole different story for buyers finding themselves in a way more stressful experience, stuck in a market forcing them to make higher and higher bids for their dream home.<\/p>\n

Sotheby’s International President & Chief Executive Officer, Brad Henderson, says to Global News<\/em><\/a>: \u00ab That dynamic added to buyers\u2019 frenzy and encouraged losing bidders to pay more in subsequent sales. \u00bb<\/p>\n

You Wish to Sell your Property: Now’s the Time!<\/h2>\n

Many experts agree that the situation will get worse before things get better (for buyers) with new residential real estate constructions in Montreal<\/a>, an increase of interest rates and news listings.<\/p>\n

The one thing we know for sure is that if you were thinking about selling your property, the timing could not be better. Don’t waste any more time! Get your share of Montreal’s thriving real estate market and contact the Genest & Marinacci, Real Estate Brokers<\/strong>‘ team<\/a> to get your property appraised by a Sotheby’s expert<\/a>.<\/p>\n

Sources: Global News<\/a>, Financial Post<\/a>, Greater Montr\u00e9al Real Estate Board<\/a><\/em><\/p>\n

Photo: Floriane Vita, Unsplash<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Canadian real estate market has been headlining news for months now, but Montreal’s market seemed to be growing steadily without difficulties. The new Greater Montr\u00e9al Real Estate Board’s report\u00a0is clear: local property sellers currently have a serious advantage.\u00a0 Local Real Estate Market is Hotter than Ever \u00ab The Greater Montreal Real Estate Board reported home…
Continue to read<\/a><\/p>\n","protected":false},"author":2,"featured_media":5298,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[195],"tags":[457,286,291,292],"class_list":["post-5300","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-montreals-luxury-real-estate","tag-genest-marinacci","tag-genest-marinacci-real-estate-brokers","tag-montreal-real-estate","tag-montreal-real-estate-market"],"acf":[],"yoast_head":"\nMontreal's Real Estate Market: Bidding Wars - Genest & Marinacci<\/title>\n<meta name=\"description\" content=\"Montreal's real estate market seemed to be growing steadily, but the Greater Montr\u00e9al Real Estate Board is clear: sellers have a serious advantage.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/genestmarinacci.com\/en\/montreal-real-estate-market-bidding-wars\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Montreal's Real Estate Market: Bidding Wars - Genest & Marinacci\" \/>\n<meta property=\"og:description\" content=\"Montreal's real estate market seemed to be growing steadily, but the Greater Montr\u00e9al Real Estate Board is clear: sellers have a serious advantage.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/genestmarinacci.com\/en\/montreal-real-estate-market-bidding-wars\/\" \/>\n<meta property=\"og:site_name\" content=\"Genest & Marinacci\" \/>\n<meta property=\"article:published_time\" content=\"2018-08-18T19:56:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/genestmarinacci.com\/wp-content\/uploads\/2018\/08\/guerre-encheres-immobilier-montreal-real-estate-bidding-wars.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"850\" \/>\n\t<meta property=\"og:image:height\" content=\"460\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"mgenest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mgenest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/genestmarinacci.com\/en\/montreal-real-estate-market-bidding-wars\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/genestmarinacci.com\/en\/montreal-real-estate-market-bidding-wars\/\"},\"author\":{\"name\":\"mgenest\",\"@id\":\"https:\/\/genestmarinacci.com\/en\/#\/schema\/person\/b6e137dc4e615b183afeb1a03d794312\"},\"headline\":\"Montreal’s Real Estate Market: Bidding Wars\",\"datePublished\":\"2018-08-18T19:56:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/genestmarinacci.com\/en\/montreal-real-estate-market-bidding-wars\/\"},\"wordCount\":424,\"image\":{\"@id\":\"https:\/\/genestmarinacci.com\/en\/montreal-real-estate-market-bidding-wars\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/genestmarinacci.com\/wp-content\/uploads\/2018\/08\/guerre-encheres-immobilier-montreal-real-estate-bidding-wars.jpg\",\"keywords\":[\"Genest & Marinacci\",\"Genest & Marinacci Real Estate Brokers\",\"Montreal real estate\",\"Montreal real estate market\"],\"articleSection\":[\"Montr\u00e9al's luxury real estate\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/genestmarinacci.com\/en\/montreal-real-estate-market-bidding-wars\/\",\"url\":\"https:\/\/genestmarinacci.com\/en\/montreal-real-estate-market-bidding-wars\/\",\"name\":\"Montreal's Real Estate Market: Bidding Wars - Genest & Marinacci\",\"isPartOf\":{\"@id\":\"https:\/\/genestmarinacci.com\/en\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/genestmarinacci.com\/en\/montreal-real-estate-market-bidding-wars\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/genestmarinacci.com\/en\/montreal-real-estate-market-bidding-wars\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/genestmarinacci.com\/wp-content\/uploads\/2018\/08\/guerre-encheres-immobilier-montreal-real-estate-bidding-wars.jpg\",\"datePublished\":\"2018-08-18T19:56:01+00:00\",\"author\":{\"@id\":\"https:\/\/genestmarinacci.com\/en\/#\/schema\/person\/b6e137dc4e615b183afeb1a03d794312\"},\"description\":\"Montreal's real estate market seemed to be growing steadily, but the Greater Montr\u00e9al Real Estate Board is clear: sellers have a serious advantage.\",\"breadcrumb\":{\"@id\":\"https:\/\/genestmarinacci.com\/en\/montreal-real-estate-market-bidding-wars\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/genestmarinacci.com\/en\/montreal-real-estate-market-bidding-wars\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/genestmarinacci.com\/en\/montreal-real-estate-market-bidding-wars\/#primaryimage\",\"url\":\"https:\/\/genestmarinacci.com\/wp-content\/uploads\/2018\/08\/guerre-encheres-immobilier-montreal-real-estate-bidding-wars.jpg\",\"contentUrl\":\"https:\/\/genestmarinacci.com\/wp-content\/uploads\/2018\/08\/guerre-encheres-immobilier-montreal-real-estate-bidding-wars.jpg\",\"width\":850,\"height\":460,\"caption\":\"guerre encheres immobilier montreal real estate bidding wars\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/genestmarinacci.com\/en\/montreal-real-estate-market-bidding-wars\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Accueil\",\"item\":\"https:\/\/genestmarinacci.com\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Montreal’s Real Estate Market: Bidding Wars\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/genestmarinacci.com\/en\/#website\",\"url\":\"https:\/\/genestmarinacci.com\/en\/\",\"name\":\"Genest & Marinacci\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/genestmarinacci.com\/en\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/genestmarinacci.com\/en\/#\/schema\/person\/b6e137dc4e615b183afeb1a03d794312\",\"name\":\"mgenest\",\"url\":\"https:\/\/genestmarinacci.com\/en\/author\/mgenest\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Montreal's Real Estate Market: Bidding Wars - Genest & Marinacci","description":"Montreal's real estate market seemed to be growing steadily, but the Greater Montr\u00e9al Real Estate Board is clear: sellers have a serious advantage.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/genestmarinacci.com\/en\/montreal-real-estate-market-bidding-wars\/","og_locale":"en_US","og_type":"article","og_title":"Montreal's Real Estate Market: Bidding Wars - Genest & Marinacci","og_description":"Montreal's real estate market seemed to be growing steadily, but the Greater Montr\u00e9al Real Estate Board is clear: sellers have a serious advantage.","og_url":"https:\/\/genestmarinacci.com\/en\/montreal-real-estate-market-bidding-wars\/","og_site_name":"Genest & Marinacci","article_published_time":"2018-08-18T19:56:01+00:00","og_image":[{"width":850,"height":460,"url":"https:\/\/genestmarinacci.com\/wp-content\/uploads\/2018\/08\/guerre-encheres-immobilier-montreal-real-estate-bidding-wars.jpg","type":"image\/jpeg"}],"author":"mgenest","twitter_card":"summary_large_image","twitter_misc":{"Written by":"mgenest","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/genestmarinacci.com\/en\/montreal-real-estate-market-bidding-wars\/#article","isPartOf":{"@id":"https:\/\/genestmarinacci.com\/en\/montreal-real-estate-market-bidding-wars\/"},"author":{"name":"mgenest","@id":"https:\/\/genestmarinacci.com\/en\/#\/schema\/person\/b6e137dc4e615b183afeb1a03d794312"},"headline":"Montreal’s Real Estate Market: Bidding Wars","datePublished":"2018-08-18T19:56:01+00:00","mainEntityOfPage":{"@id":"https:\/\/genestmarinacci.com\/en\/montreal-real-estate-market-bidding-wars\/"},"wordCount":424,"image":{"@id":"https:\/\/genestmarinacci.com\/en\/montreal-real-estate-market-bidding-wars\/#primaryimage"},"thumbnailUrl":"https:\/\/genestmarinacci.com\/wp-content\/uploads\/2018\/08\/guerre-encheres-immobilier-montreal-real-estate-bidding-wars.jpg","keywords":["Genest & Marinacci","Genest & Marinacci Real Estate Brokers","Montreal real estate","Montreal real estate market"],"articleSection":["Montr\u00e9al's luxury real estate"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/genestmarinacci.com\/en\/montreal-real-estate-market-bidding-wars\/","url":"https:\/\/genestmarinacci.com\/en\/montreal-real-estate-market-bidding-wars\/","name":"Montreal's Real Estate Market: Bidding Wars - Genest & Marinacci","isPartOf":{"@id":"https:\/\/genestmarinacci.com\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/genestmarinacci.com\/en\/montreal-real-estate-market-bidding-wars\/#primaryimage"},"image":{"@id":"https:\/\/genestmarinacci.com\/en\/montreal-real-estate-market-bidding-wars\/#primaryimage"},"thumbnailUrl":"https:\/\/genestmarinacci.com\/wp-content\/uploads\/2018\/08\/guerre-encheres-immobilier-montreal-real-estate-bidding-wars.jpg","datePublished":"2018-08-18T19:56:01+00:00","author":{"@id":"https:\/\/genestmarinacci.com\/en\/#\/schema\/person\/b6e137dc4e615b183afeb1a03d794312"},"description":"Montreal's real estate market seemed to be growing steadily, but the Greater Montr\u00e9al Real Estate Board is clear: sellers have a serious advantage.","breadcrumb":{"@id":"https:\/\/genestmarinacci.com\/en\/montreal-real-estate-market-bidding-wars\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/genestmarinacci.com\/en\/montreal-real-estate-market-bidding-wars\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/genestmarinacci.com\/en\/montreal-real-estate-market-bidding-wars\/#primaryimage","url":"https:\/\/genestmarinacci.com\/wp-content\/uploads\/2018\/08\/guerre-encheres-immobilier-montreal-real-estate-bidding-wars.jpg","contentUrl":"https:\/\/genestmarinacci.com\/wp-content\/uploads\/2018\/08\/guerre-encheres-immobilier-montreal-real-estate-bidding-wars.jpg","width":850,"height":460,"caption":"guerre encheres immobilier montreal real estate bidding wars"},{"@type":"BreadcrumbList","@id":"https:\/\/genestmarinacci.com\/en\/montreal-real-estate-market-bidding-wars\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Accueil","item":"https:\/\/genestmarinacci.com\/en\/"},{"@type":"ListItem","position":2,"name":"Montreal’s Real Estate Market: Bidding Wars"}]},{"@type":"WebSite","@id":"https:\/\/genestmarinacci.com\/en\/#website","url":"https:\/\/genestmarinacci.com\/en\/","name":"Genest & Marinacci","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/genestmarinacci.com\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/genestmarinacci.com\/en\/#\/schema\/person\/b6e137dc4e615b183afeb1a03d794312","name":"mgenest","url":"https:\/\/genestmarinacci.com\/en\/author\/mgenest\/"}]}},"_links":{"self":[{"href":"https:\/\/genestmarinacci.com\/en\/wp-json\/wp\/v2\/posts\/5300","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/genestmarinacci.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/genestmarinacci.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/genestmarinacci.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/genestmarinacci.com\/en\/wp-json\/wp\/v2\/comments?post=5300"}],"version-history":[{"count":0,"href":"https:\/\/genestmarinacci.com\/en\/wp-json\/wp\/v2\/posts\/5300\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/genestmarinacci.com\/en\/wp-json\/wp\/v2\/media\/5298"}],"wp:attachment":[{"href":"https:\/\/genestmarinacci.com\/en\/wp-json\/wp\/v2\/media?parent=5300"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/genestmarinacci.com\/en\/wp-json\/wp\/v2\/categories?post=5300"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/genestmarinacci.com\/en\/wp-json\/wp\/v2\/tags?post=5300"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}