The Royal LePage House Price Survey recently released shows Laval’s real estate market posted growth during the third quarter, with a 3.6 per cent increase in the aggregate price of homes to $325,481.
Potential buyers are given a wide range of inventory giving them a clear advantage. Due to the slight lull in sales in 2015, there are now more real estate listings in Laval.
According to the survey, compared to the same period in the previous year, the median price of a 2-storey property in Laval went up in the third quarter by 3.3 per cent to $401,949, while the median price of a bungalow went up by 4.7 per cent to $298,406. There is also a 2% increase in the median price of condominiums, reaching $242,084.
The prices of homes for sale in Laval have remained stable in the third quarter but there is a decrease in bungalow sales of about 0.4%. Sales of two-story homes also went down.
Experts say real estate sales slow down in the third quarter due to the arrival of summer. Vacationers do not really want to focus on buying properties during summer as they are more interested in planning their holidays, or going on trips. As has been the case for a long time now, sales are always quieter in the summer months and will resume at a faster pace in autumn.
The Canadian economy has slowed down somewhat but experts remain optimistic. There are new residential real estate projects being developed currently in Laval, which could revive economic activity and make it more attractive to potential buyers. It has found relative success from Chinese real estate investors.
What You Need to Know About Living in Laval
Many people think Laval is a boring place to live in but nothing can be farther from the truth. There are many things you can do here. And no, it’s not one big farmland, as some Montreal residents seem to think. Here you can find one of Quebec’s largest malls, which has many popular stores and restaurants.
Laval also has a close community vibe and most people are friendly. But contrary to popular belief, we don’t know everyone here.
Buying a Home in Laval
Should you plan to move to Laval, you have quite a few housing options. You can pick from a single-family home, a townhouse or a condominium unit. The prices of homes here are relatively affordable compared to big city homes for sale.
Get the help of a professional real estate agent who specializes in properties that meet your requirements. They can show you your best options and ensure you won’t have a hard time finding the property you want to buy. Make sure to check various properties before making a decision. Find out as much as you can about the neighborhood and negotiate the price with the help of your agent.