Like many other workers, real estate agents have had to make peace with a forced break from their professional activities. The question now is whether we should expect an upheaval in the world of real estate. Will the Mont-Tremblant market be able to emerge unscathed? Tremblant Express questioned three area real estate brokers for their opinions on the situation.

Not surprisingly, at the time when they were questioned, Jennifer McKeown, director of Les Immeubles Mont-Tremblant; Pascale Janson, founding co-owner and director of the agency Versants Mont-Tremblant, and Stephen Lafave, senior director of Engel & Völkers Tremblant all agreed that the market was in pause mode, “a period comparable to the closing of the stock market for the night,” says Pascale Janson who, when we spoke, hoped for a resumption of real estate activities on May 4.

Some sales have gone through, notably “when the purchasers had been able to visit the property prior to the beginning of the lockdown,” explains Jennifer McKeown. Moreover, if you look at the traffic registered on the Engel & Volkers Tremblant website, which experienced a major increase during this period, many people took the time to shop for their dream property.

Should an impact on property prices be expected?

It’s hard to talk real estate without talking prices. According to those we interviewed, the prices of lakefront properties won’t change, but if the situation continues, revenue properties could be impacted.

“Some properties were bought for their revenue potential and it’s their revenue that establishes their value. Life will have to get back to normal for that value to be maintained,” Pascale Janson states. “If the rules against movement between provinces are lifted, I believe there’ll be no effect on Mont-Tremblant real estate. Vacations in Quebec, and particularly in Mont-Tremblant, are likely to remain popular in the coming months, because people will feel safe here,” she adds.

“I believe that we are really well positioned,” Stephen Lafave continues, “because our destination is accessible by car at a time when not many people want to travel by plane. There’ll be a period of adjustment. In the mid-term, we believe that things will be back to normal within six months to a year.”

Mont-Tremblant, the new capital of “teleworking”?

These real estate professionals all have, among their friends and clients, seasonal residents or regular vacationers who are living out the lockdown in Mont-Tremblant rather than in the city. All three have observed a new trend brought on by the crisis: teleworking works well and could permit an exodus that has been considered marginal up to now.

“The world wants to get out of Montreal. Everything is changing,” Jennifer McKeown observes. “People are more comfortable with distance working and we perceive a greater interest in this area as being the place for a principal residence. There’s a lot of activity in single-family homes,” she explains.

“I think this experience will give people the urge to advance their projects involving pre-retirement or moving to Mont-Tremblant to distance work from here, because this experience has shown us that it works well,” Pascale Janson confirms. “The good side is that telework could create a response to the need for qualified workers here in some fields,” she adds.

“Demand is still there and interest rates are low. Of course, everything depends on the economy, but a number of people have been able to live in Mont-Tremblant for one or two months instead of being confined to their principal residence. Trends could change and have a beneficial effect on destinations like ours. All these factors could attenuate the negative effects that the pandemic could generate,” Stephen Lafave concludes.