Statistics of the real estate market in the Pontiac show that a significant increase in the number of residential and commercial sales took place for the first 9 months of the year. In comparison to last year, more than 120 more sales were recorded in 2020. In 2019, at the same date, 126 sales had been recorded compared to 247 for the first 9 months of this year.
Century 21 Elite real estate broker Sébastien Bonnerot explained that the 2019 floods and the confinement related to the COVID-19 pandemic are reasons that have allowed real estate markets in the Pontiac to experience such growth.
The effect of working from home on the real estate market
The transformation in the organization of work since the pandemic has sped up the number of remote workers and has had a significant effect on the location of properties that have been sold. Many residents have sought to leave urban centers to settle in cheaper and quieter neighborhoods, according to Sébastien Bonnerot. In the Pontiac, many have sought to settle in the heart of villages in order to benefit from a quality Internet service. This explains, according to Sébastien Bonnerot, certain transactions in Waltham, Clarendon and Fort-Coulonge / Mansfield.
Sébastien Bonnerot also specified that the current market is qualified as a “seller’s market”, meaning that there are more buyers than sellers.
The full interview with Sébastien Bonnerot is available here.