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Centris Real Estate Market Report: August 2018, Montreal

Quebec sees yet another record breaking month when it comes to real estate sales.

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Montreal’s real estate market set another sales record this month, as provincial sales and prices continue to heat up.The provincial real estate database – Centris- recorded 6,351 sales in Quebec this August, which is a 7% increase relative to the same period last year.

Sales Activity

  • Quebec (province): 6,314 sales (+7%)
  • Montréal: 3,224 (+8%)
  • Québec City: 425 (+1%)
  • Gatineau: 409 (+8%)
  • Sherbrooke: 141 (+10%)
  • Saguenay: 99 (32%)
  • Trois-Rivières: 70 (-13%)

The condominium market saw the largest jump in sales, with 13% more transactions in August 2018. Single-family homes and plexes (2 to 5 dwellings) also performed well with increases of 6% and 5% respectively.

Prices

The median price of single-family homes in the province’s six CMAs all increased in August, with the exception of Gatineau.

  • Quebec (province): $249,000 sales (+5%)
  • Montréal: $333,000 (+5%)
  • Québec City: $257,500 (+2%)
  • Gatineau: $240,000 (0%)
  • Sherbrooke: $222,000 (+9%)
  • Saguenay: $173,500 (+5%)
  • Trois-Rivières: $168,000 (+13%)

Appreciation rates are calculated relative to prices recorded in August 2017 (year over year appreciation).

The median price of condominiums stood at $240,000, a 2% increase.

Meanwhile in Montreal, the median price of a condo stands at $306,000, a 3.5% increased compared to August 2017.

Further reading:


This article, Centris Real Estate Market Report: August 2018, Montreal, appeared first on Shupilov News.

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