On November 6, the Association professionnelle des courtiers immobiliers du Québec (APCIQ) released its data for the month of October 2024. The latest statistics on the residential real estate market in the Vaudreuil-Soulanges region show a significant increase in the number of transactions during the month of October 2024, versus October 2023.

A total of 155 transactions were carried out during the month of October this year, versus 104 at the same date in 2023. This represents an increase of 49%. In terms of volume, we're talking about an increase of 61%, from $55,357,000 in 2023 to $88,876,962 in 2024.

It should be noted that this level of transactional activity is well above the historical average recorded for this month of the year since data was first compiled by Centris in 2000. October was the 4th busiest month on record.

“The return of more favorable and sustainable financing conditions is encouraging potential buyers and sellers to take action, and increasing the pool of households that can qualify for a mortgage,” points out Charles Brant, Director of APCIQ's Market Analysis Department.

The single-family home market seems to be attracting a lot of buyers, with 105 homes snapped up over the past month. The number of listings also increased, with 611 recorded. 

“On the one hand, the scenario of rapidly falling interest rates is becoming a reality, boosting the confidence of buyers and, at the same time, sellers. In a context where fixed mortgage rate cuts seem to be coming to an end, many buyers are choosing to commit immediately, before competition increases on the market and prices recover further. On the other hand, with the latest additional half-percentage-point cut in the key rate, some 12.5% of the pool of buyers who were unable to qualify until the turn of the year now have the capacity to do so, particularly first-time buyers. In these circumstances, it's not surprising to see a particularly big jump in condominium transactions, the type of property that first-time buyers usually buy, and which currently offers greater availability on the market,” concludes Mr. Brant.