Montreal housing market rebounding

The housing market in Montreal is the most balanced between buyers and sellers it has been in decades, according to the Quebec director of Royal LePage Real Estate Services.

As a result, Dominic St-Pierre predicts the average house price will rise a moderate 2.1 per cent this year to $263,500.

“Between 2001 and 2007, it was a seller’s market and buyers had to act very quickly or they would lose the property they were interested in and at the end of 2008 and early 2009, we experienced a shift to a buyer’s market,” St-Pierre said. “Today, we have reached a more balanced state where supply and demand are more in line.”

Canadians clean up in Lee County's real estate field

Terry Dona, sales manager at Gulf Coast Associates Realtors in Bonita Springs, said Canadians comprise most of her foreign buyers at about "80 to 1."

"We have quite a few Canadians who are looking for property all the time," Dona said. "It's obviously picked up even more in the last 12 months."

Dona attributed the influx of Canadian home buyers partly to the dollar's rate of exchange and also to appealing prices.

Canada has experienced an advantageous rate of exchange the past year, with exchange rates as high as $1.30 in March.

The U.S. dollar is currently equivalent to about $1.15 in Canadian currency.

Calgary real estate pros to hold industry extravaganza

With Calgary’s housing market picking up steam again, more than 80 real estate professionals, 20 bankers and several home renovation experts and mortgage insurers will gather Saturday for a one-day home buying and renovation extravaganza.

A carnival atmosphere is planned for two RONA locations — 90 Crowfoot Way N.W. and 9630 Macleod Trail S — for the Under the Tent Home Buyers and Renovation Event, which is a free information day of seminars and one-on-one home buying, financial and advisory services open to the general public from 9:30 a.m. to 4 p.m.

“This is a perfect time with low interest rates and reduced house prices for current owners and first-time home buyers to learn more about the home buying and renovation options,” said Laura Parsons, area manager, mortgage specialists, Calgary District, BMO Bank of Montreal.

Luxury home sales hit record high in Toronto in May

A new report on the Toronto real estate market suggests it is once again moving at full steam, with high-end homes selling at record rates.

May was the strongest month ever for sales of luxury homes in the Greater Toronto Area, according to RE/MAX Ontario-Atlantic Canada.

In that month, 273 homes were sold for more than $1 million each, compared to 258 sold in the same month one year earlier -- a difference of 6 per cent.