Local real estate agent, Paul Lemelin tells his perspective the current housing market in La Peche, Quebec. The housing crisis is wide spread across Canada, and is currently affected many residents of La Peche. Wakefield is a town of artists, musicians and many other entrepreneurs that have made this a tourist destination. With the Covid boom in real estate some of these residents are struggling to stay here in their community due to the lack of rentals available and now unaffordability.
Paul speaks on what the market was like pre-covid and how the market has change since covid. In the demanding seller’s market, he speaks on how difficult it is to buy a place. They have a roster of over 120 people looking to find homes here but there are only few places becoming available for sale. This demand and lack of inventory is driving the prices up rapidly. Most places are selling in multiple offers and above asking prices. The same is happening with vacant land. Vacant land is now selling in multiple offers as well. With the lack of homes for sale, people are opting for vacant land to build on.
Paul also offers some advice to buyers in this aggressive seller’s market. It is hard to see people struggling to find homes and hearing about people needing to leave the community because of this. He does believe the market will settle over time. This is a very difficult time to buy. Have a listen to his perspective on the market here in La Peche, Quebec.