Montreal momentum continues for 48th straight month

by Steve Randall07 Mar 2019

There’s no cooling of the housing market in the Montreal CMA; it’s posted its 48th consecutive monthly increase in sales.

The Quebec Professional Association of Real Estate Brokers (QPAREB) says there were 4,370 homes sold through the provincial Centris database last month, up 8% year-over-year.

Of the 6 main areas in the CMA, four saw strong increases in sales with the North Shore (17%), Laval (16%), the South Shore (10%) and Saint-Jean-sur-Richelieu (10%) all posting double-digit gains; there was no change for Vaudreuil-Soulanges; sales on the Island of Montreal fell 1%.

Although single-family homes accounted for the largest number of sales across the Montreal CMA (2,436), that sector’s 4% year-over-year rise in sales was small compared to the 14% surge for condos (1,588). There were 339 sales of plexes, a 7% gain.

Prices rise as inventory falls
The median price of single-family homes across the CMA increased by 3% to reach $320,000 while the median price of condominiums remained unchanged at $250,000.

The largest percentage gain in median price was for plexes (2 to 5 dwellings), rising 8% to $522,000.

There were 22,252 active residential listings in the Montreal CMA, a 15% drop compared to one year earlier.


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