Montreal Real Estate Market: New Sales Records Were Set in December in All Areas
L’ÎLE-DES-SOEURS, Quebec, Jan. 05, 2021 (GLOBE NEWSWIRE) — The Quebec Professional Association of Real Estate Brokers (QPAREB) has just released its residential real estate market statistics for the Montreal Census Metropolitan Area (CMA) for the month of December, based on the real estate brokers’ Centris provincial database.
“All areas of the Montreal CMA registered a new sales record for a month of December. However, we continue to see an increase in condominium listings that far exceeds the number of condo sales on the Island of Montreal,” said Charles Brant, director of market analysis at the QPAREB.
- Significant increase (+8 per cent) in year-to-date sales compared to the same period in 2019.
- Strong sales increases in periphery markets, including Saint-Jean-sur-Richelieu (+51 per cent), the North Shore (+49 per cent), Laval (+33 per cent), the South Shore (+31 per cent) and Vaudreuil-Soulanges (+25 per cent).
- By property category, sales of plexes and single-family homes jumped by 35 per cent, while sales of condominiums rose by 26 per cent.
- Sharp increase in active listings for condominiums (+18 per cent) and plexes (+15 per cent), numbers that have not been seen for a month of December since 2012 and 2011, respectively. In contrast, active listings of single-family homes fell sharply (-44 per cent).
- With market conditions that are still very much to the advantage of sellers, median prices continued to increase significantly for single-family homes (+21 per cent), and remained at high levels for condominiums (+14 per cent) and plexes (+10 per cent).