Montreal sales jump 10%, best April in 8 years

by Steve Randall07 May 2018

There were 5,432 residential property sales in the Greater Montreal Real Estate Board’s region in April, a 10% increase from a year earlier.

The best April sales ever for the region was led by the soaring condo sector with an 18% increase in transactions, the twelfth consecutive monthly gain for this sector.

Single family homes and plexes together recorded a 6% year-over-year increase.

Inventory across the Montreal CMA was down 17% with 25,466 available properties on the Centris system.

"The decrease in the number of properties for sale means that market conditions are becoming increasingly favourable to sellers," said Mathieu Cousineau, President of the GMREB Board of Directors.

Prices were contained across the Montréal CMA in April. The median price of single-family homes stood at $317,000, up 4% increase year-over-year.

The median price of condominiums increased by 2% to reach $245,350, while that of plexes increased by 3% to reach $500,000.

All areas saw increased sales except one
Sales increased across the Montreal CMA with the exception of Vaudreuil-Soulanges which was unchanged from a year earlier.

It was suburban sales that led the increase with a 15% rise on the South Shore, 13% in Saint-Jean-sur-Richelieu and 12% in Laval and on the North Shore. On the Island of Montreal sales were up 6%.

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