Since the start of 2010 there has been a lot of activity in the Old Montreal real estate market. Old Montreal real estate is in very high demand. With the new mortgage rules coming into effect April 19th, many Montreal real estate buyers are scrambling to close on properties which may become out of their reach financially. The new mortgage rules will require that all borrowers meet the standards (posted rate) for a five-year fixed rate mortgage even if they choose a mortgage with a lower interest rate and shorter term. This rule is being put into place to help Canadians prepare for higher interest rates in the future, thus avoiding what happened in the United States.
Since January 1st 2010 there have been a total of thirty four Old Montreal condo for sale sold in the Montreal real estate market. The selling prices for these Montreal condo sold in the Old Montreal real estate market started at $224,000 and went to $1,175,000 at the top of the price range. The average price for an Old Montreal condo for sale which sold in the Montreal real estate market since the start of this year has been $459,795. On average these Old Montreal condos for sale were on the Montreal real estate market for 63 days before they sold.
Currently there are many Old Montreal condos for sale in the Montreal real estate market. There are one hundred seventy one Old Montreal condo for sale for current buyers to choose from. Prices for these Old Montreal condo for sale in the Montreal real estate market start at $209,000 and go to $6,900,000 at the top of the price range. The average price of an Old Montreal condo for sale is currently $624,060. If you are interested in receiving a list of these Old Montreal condos for sale please do not hesitate to contact me. I can also help you evaluate and sell your Old Montreal condo.
Another very active segment of the Old Montreal real estate market is the Old condo for rent market. Since January 1st 2010 there have been thirty two Old Montreal condos rented in the Montreal real estate market. These Old Montreal condo rented for an average of $2,381 per month. The highest price paid for an Old Montreal Condo for rent in the Montreal real estate market was $6,100 and the lowest price was $995 per month.
The current Old Montreal condo for rent market has plenty to offer. There are now one hundred and forty Old Montreal condos for rent in the Montreal real estate market. Prices for these Old Montreal condo for rent start at $400 and go to $7,000 per month. The current average price for an Old Montreal condo for rent on the Montreal real estate market is $2,394 per month. If you are interested in receiving a list of these Old Montreal condos condos for rent please contact me. I can also help you in renting out your Montreal condo. It will be my pleasure to assist you.