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GMREB: Strong End to the Year For Montreal Real Estate Market

The last quarter of 2018 ended with a bang, according to the Greater Montréal Real Estate Board's most recent statistics.

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The last quarter of 2018 ended with a bang, according to the Greater Montréal Real Estate Board’s most recent statistics.

TLDR: Montreal Island was the only CMA to see a drop in transactions. The median single-family homes now costs $327,450 (+7%) and the median condo costs $272,863 (+3%).

The number of residential sales increased by 3% to a total of 2,825, marking a new sales record for the month of December.

Sales by Metropolitan Area

  • Five out of six main areas in the Montreal CMA registered an increase in sales in December.
  • Vaudreuil-Soulanges and Saint-Jean-sur-Richelieu saw the highest increase at 13% and 8% respectively.
  • Transactions rose by 6% North Shore, 5% in Laval and 3% on the South Shore.
  • Montreal Island saw a decrease in sales – transactions fell by 1% in December when compared to December 2017.

Sales by property category

  • The number of single-family home transactions rose by 3% to 1,491 sales
  • Condominium transactions grew by 2% to 993 sales.
  • Plex transactions fell by 1%  to 336 sale.

Prices

  • The median price of single-family homes and ‘plexes increased significantly across the Montréal CMA in December, reaching $327,450 (+7%) and $525,000 (+8%) respectively.
  • The median price of condominiums rose by 3%, reaching $272,863.
  • Prices increased the most in Vaudreuil-Soulanges, where the average single family home appreciated by 17%
  • Prices increased the least in Montreal Island, where the average single family home appreciated by 4%

Number of properties for sale

In December, there were 18,970 active residential listings in the real estate brokers’ Centris system, an 18% drop compared to one year earlier.

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This article, GMREB: Strong End to the Year For Montreal Real Estate Market, appeared first on Shupilov News.

 

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