According to the latest JLR Solutions Report on residential real estate, condo sales volume increased this year, while every other property type decreased.
When it comes to median prices, single family homes showed both the highest average price and the highest annual appreciation. The average detached home costs $329,900 in February 2018, an 8 % increase compared the February 2017.
Condos showed a smaller year over year appreciation, a 4% annual increase to an average of $263,500.
The smallest price variation was recorded in the revenue property market (duplexes, triplexes and multiplexes). The average price of a ‘plex in Montreal rose by 3% compared to the same period last time, to $459,000.
Condominiums were the only property type to show an increase in sales volume – 13% up to 1,177 units in February 2018. Single family homes and ‘plexes both recorded fewer sales this February compared to last year – a 4% decrease in both cases. Overall, more single family homes were sold than any other property type – 1 217 units.
The report also looked at bad debt in Montreal, which has mainly decreased in respect to last year.
- Morguard 2018 Report on the Canadian Residential Real Estate Market
- February 2018 Centris Residential Sales Statistics Report
About JLR Solutions
JLR provides statistics to banking institutions and government agencies, offering solutions to simplify the communication process between clients, consumers and organizations. They have been in operation since 1986.
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