The real estate market in Mont-Tremblant 2024 starts with a series of factors contributing to a favorable environment for buyers. Here are the three main reasons why buyers should get in the market now:
Significant Inventory Build-up:
With 16% more new listings and 21% fewer sales (2023 vs. 2022), the real estate landscape in Mont-Tremblant has undergone significant adjustments. With 396 active listings at the end of the year, the inventory is 50% higher than the previous year.
The co-ownership segment wins the title, with 55% more inventory and 30% fewer transactions.
These are important and clear statistics; it is in 2023 that the market transitioned from a seller’s market to a buyer’s market.
Mont-Tremblant / 2023 vs. 2022 Source: APCIQ / Centris
Mont-Tremblant / 2023 vs. 2022 Source: APCIQ / Centris
Anticipated Decline in Interest Rates:
Looking forward, the real estate landscape is poised for a positive shift as interest rates are expected to decrease in the coming year. Historically, lower interest rates have stimulated demand, leading to an uptick in property prices. By entering the market now, you position yourself to benefit from the projected increase in property values driven by more favorable borrowing conditions. It might mean biting the bullet for a few months, but seizing this opportunity may result in substantial appreciation on your investment in the long run.
Seller Flexibility and Concessions:
The current market scenario, characterized by a limited number of active buyers, has prompted sellers to be more flexible in negotiations. Many are prepared to make concessions, be it in terms of adjusting the selling price or accommodating contingencies. This heightened willingness to negotiate empowers buyers to secure more favorable terms and ensures a smoother transaction process.
In conclusion, the convergence of increasing inventory, anticipated lower interest rates, and seller flexibility presents an advantageous environment for those considering real estate investment. This window of opportunity may not last indefinitely, making it an opportune moment to explore your options and make informed investment decisions. And remember, you can re-negotiate your interest rate in a few months, but you can’t re-negotiate the price you pay.