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Centris Residential Sales Statistics: March 2019

Sales, appreciation rates and active listings on Montreal Island.

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The Quebec Professional Association of Real Estate Brokers (QPAREB) has just released its most recent residential real estate market statistics for the Montreal Census Metropolitan Area (CMA), based on the real estate brokers’ Centris provincial database.


TL;DR: Single family homes recorded the highest appreciation rates in Montreal’s CMA area in March 2018. Sales activity dropped on Montreal island, while increasing in Saint-Jean-sur-Richelieu, the South Shore, the North Shore and Vaudreuil-Soulanges.


In total, 5,710 residential sales were concluded in March 2019, a modest 1% increase compared to March of last year. Nevertheless, this was the 49th consecutive monthly increase in sales.

Sales by area and property type

  • Saint-Jean-sur-Richelieu, the South Shore, the North Shore and Vaudreuil-Soulanges all posted solid results with respective sales increases of 21%, 7%, 5% and 4%.
  • In contrast, the Island of Montreal posted a 6% drop in sales, while sales in Laval fell by 1%.
  • Across the Montreal CMA, the number of single-family home transactions (3,203) was unchanged compared to March of last year, while the number of condominium transactions (2,079) increased by 5% and the number of plex transactions (422) fell by 5%.

Sales

2019

2018

Variation

Total residential

5,710

5,361

1%

Single-family

3,203

3,209

0%

Condominium

2,079

1,975

5%

Plex (2-5 dwellings)

422

445

-5%


Prices

  • Still at the CMA level, the median price of single-family homes continued to strengthen, reaching $331,000 (+5%) in March.
  • The median price of condominiums also rose, growing by 3% to reach $248,000.
  • The median price of plexes (2 to 5 dwellings) was unchanged compared to March of last year, sitting at $500,000.

Median price

2019

2018

Variation

Single-family

$331,000

$ 314,859

5%

Condominium

$248,000

$240,000

3%

Plex

$500,000

$ 500,000

0%

 

Number of properties for sale

In March, there were 22,430 active residential listings in the Montreal CMA, a 15% drop compared to one year earlier.

Listings

2019

2018

Variation

Active

22,430

26,296

-15%

New

7,508

7,754

-3%

 

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This article, Centris Residential Sales Statistics: March 2019, appeared first on Shupilov News.

 

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