It takes less time to sell a house in quiet Maritime markets than it does in bustling Montreal.
We've been hearing from our readers lately that real estate news focuses too much on Toronto and Vancouver and not enough on the rest of the country.
This is a legitimate point. Both within the industry and among the public, there's been a fascination with these two markets. And there's some reason for that. As recently as 2015, the Toronto and Vancouver metro areas accounted for 29 per cent of all home sales in Canada.
But with the recent slowdown in those cities, they're becoming less important to the overall market, accounting for only 22 per cent of sales in 2018.
So it's time to take a look at what's going on in all those other markets that aren't Toronto or Vancouver. In the coming weeks, we'll be featuring stories on conditions in Canada's smaller and medium-sized markets — or at least as much data as we can find, because there are often gaps in those smaller communities.
This week we are drilling down through Canadian Real Estate Association statistics to see just how long it takes to sell a house in the many varied markets across the country.
Despite a sharp slowdown in home sales across southern Ontario in recent months, these cities are still the places where houses "fly off the shelves," as it were, at breakneck speed. The shortest time period in the country is in Windsor (yes, population-of-200,000 Windsor), where it typically takes 12 days to sell a house.
Compare that to 134 days in Saguenay, Que., the longest period reported by any real estate board in Canada. In fact, the bottom of the list is dominated by municipalities in Quebec. Even Montreal, which had the strongest housing market among major cities in 2018, has a 74-day average selling time, compared to 23 days in Toronto and 56 in Greater Vancouver, which had far weaker housing markets in the past year.
It takes less time to sell a house in most Maritime cities than it does in a bustling Montreal. Go figure.By Daniel Tencer
We've been hearing from our readers lately that real estate news focuses too much on Toronto and Vancouver and not enough on the rest of the country.
This is a legitimate point. Both within the industry and among the public, there's been a fascination with these two markets. And there's some reason for that. As recently as 2015, the Toronto and Vancouver metro areas accounted for 29 per cent of all home sales in Canada.
But with the recent slowdown in those cities, they're becoming less important to the overall market, accounting for only 22 per cent of sales in 2018.
So it's time to take a look at what's going on in all those other markets that aren't Toronto or Vancouver. In the coming weeks, we'll be featuring stories on conditions in Canada's smaller and medium-sized markets — or at least as much data as we can find, because there are often gaps in those smaller communities.
This week we are drilling down through Canadian Real Estate Association statistics to see just how long it takes to sell a house in the many varied markets across the country.
Despite a sharp slowdown in home sales across southern Ontario in recent months, these cities are still the places where houses "fly off the shelves," as it were, at breakneck speed. The shortest time period in the country is in Windsor (yes, population-of-200,000 Windsor), where it typically takes 12 days to sell a house.
Compare that to 134 days in Saguenay, Que., the longest period reported by any real estate board in Canada. In fact, the bottom of the list is dominated by municipalities in Quebec. Even Montreal, which had the strongest housing market among major cities in 2018, has a 74-day average selling time, compared to 23 days in Toronto and 56 in Greater Vancouver, which had far weaker housing markets in the past year.
It takes less time to sell a house in most Maritime cities than it does in a bustling Montreal. Go figure.By Daniel Tencer
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