Montréal home sales rise for a 50th straight month, gaining 11 per cent in April

The Québec Professional Association of Real Estate Brokers (QPAREB) has released their recent residential real estate market statistics for the Montréal Census Metropolitan Area (CMA), based on the real estate brokers’ Centris provincial database,
In April 2019, 5,973 residential sales were concluded reaching a significant increase of 11 per cent compared to April of last year. This was also the 50th consecutive monthly increase in sales.
Sales by geographic area

  • All six areas that make up the Montréal CMA registered an increase in sales in April.
  • The South Shore led the way with an 18 per cent jump in sales, followed by the North Shore (+16 per cent), Saint-Jean-sur-Richelieu (+13 per cent), Vaudreuil-Soulanges (+10 per cent), the Island of Montréal (+6 per cent) and Laval(+1 per cent).

Sales by property category

  • Sales also increased for all property categories across the Montréal CMA. Condominium sales rose by 17 per cent, plex sales increased by 12 per cent, and single-family homes by six per cent.

Prices

  • Plexes (two to five dwellings) registered the largest increase in median price jumping by 8 per cent to reach $540,000.
  • The median price of condominiums grew by six per cent to reach $260,000.
  • The median price of single-family homes increased by four per cent and stood at $330,000.

In April, there were 21,111 active residential listings in the Montréal CMA, dropping down to 17 per cent compared to one year earlier.

“The drop in the number of active listings has created a situation of scarcity, which therefore puts upward pressure on prices,” said Nathalie Bégin, President of the QPAREB. “We see that market conditions have tightened again for single-family homes and condominiums, and have remained unchanged for plexes,”.

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