How to calculate the market value of your property

How much is my property worth?

Real estate property valuation in Montreal

Real Estate Market Analysis by a Broker

As a real estate broker, I have full access to the Centris® system. This centralized database, reserved exclusively for real estate brokers, contains much more comprehensive information than the public Centris.ca website.

Thanks to Centris®, I can conduct a market analysis based on comparable properties sold in the same area. To properly assess a property, it is essential to take the time to analyze the market carefully and ask the right questions.

What is the seller-to-buyer ratio?
Are we in a buyer's market or a seller's market?
Where is the property located?
What are the property's revenues and expenses?
Does it have any special features, such as a parking space?
Is it a rare property on the market?
Has the building been well maintained?

With advanced tools and field experience dating back to 2000, I can help determine the right price, balancing what a buyer would be willing to pay with what the seller would consider acceptable.

The Importance of Pricing Your Property Correctly

To sell within a reasonable timeframe, it is essential to set the right price from the start.

An overpriced property may be overlooked by buyers and lose its initial appeal over time. Conversely, if the asking price is too low, you may not realize the full potential of your asset when selling.

Market Value vs. Municipal Assessment

The Market Value of Your Property

Market value is the price a property would sell for in an open and competitive market, where both the buyer and seller are aware of current market conditions. In general, market value is often higher than the municipal assessment by several percentage points.

Several factors must be considered when determining market value. For an income-producing property, for example, a profitability calculation may be used, based on the property's net income, to estimate its market value.

Municipal Property Assessment

Updated every three years, the municipal assessment is established 18 months before it takes effect. Montreal's latest property assessment roll reflects market conditions as of July 1, 2024, and applies to 2026, 2027 and 2028.

Because of the time elapsed between the assessment date and the period covered by the assessment roll, the municipal assessment should not be used on its own to determine your property's asking price.

In Montreal, a team of 180 people works to update the 500,000 property assessments across the city. Recent transactions in each area are analyzed. However, municipal assessments do not always reflect market fluctuations. They are primarily used as a basis for calculating municipal and school taxes.

It is also worth noting that, except in special circumstances, a municipal assessor will not visit your property in person. As a result, several property features and characteristics may not be taken into account in the assessment.

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Free Real Estate Valuation: How Does It Work?

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