The media talks about it all the time – “The Spring Market” – the months of February, March and April, when “all” the sales happen. It’s easy to rationalize in the context of the Montreal rental market – most leases in Montreal end on June 30, so any tenant who wants to buy a house needs occupancy around July 1. This means they would need to sign a promise to purchase in the springtime to give the vendors adequate time to arrange their move. In fact, the rationale holds true for “starter homes” – homes priced under around $500,000. In the West Island, a house in this price range is more than twice as likely to sell in March than it is in November, December or January. In fact, there is seasonality in sales even in properties as expensive as $750,000 – this same trend holds true even for these more expensive properties.

As you move up in selling price, however, the seasonality in sales virtually disappears. A house priced between $750,000 and $1,000,000 is most likely to sell in June or October, and the sales of houses priced over $1,000,000 have virtually no seasonality at all.

It’s easy to explain this. Quite simply, the sales of more expensive houses are not driven so directly by the rental market in Montreal. It would be unusual for a tenant paying rent of $1500 per month to buy a $750,000 home. This means that the demand for housing is more consistent and less seasonal for those houses that are priced out of reach of most first-time buyers.

These statistics translate to geographic areas as well. It’s a well-known fact that you pay a premium to be closer to the lake: houses south of highway 20 are more expensive than equivalent houses north of the highway. It stands to reason, then, that more expensive neighbourhoods will have less seasonality in sales than more modestly priced neighbourhoods populated by more starter homes.

The brokers at Deakin Realty all live and work in the south part of the West Island, and any of us would be pleased to help you find your jewel of a home in our neighbourhood.