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Montreal Residential Real Estate Market Report: October 2018

A rundown on sales, median prices and active inventory

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The Greater Montréal Real Estate Board (GMREB) has released its latest residential real estate market report for the Montréal’s Census Metropolitan Area, based on statistics entered into the real estate brokers’ Centris provincial database.

Residential sales have gone up by 11% compared to October 2017. 3,731 residential properties were sold last month, which represents a new sales record for the month of October.

Sales by geographic area

  • Strong sales increases were registered across all six main areas of the Montréal CMA.
  • Laval (+17 per cent), Saint-Jean-sur-Richelieu (+16 per cent), the North Shore (+14 per cent) and the South Shore (+12 per cent) registered the largest increases.
  • Island of Montréal recorded a +8 per cent increase.

Sales by property category

  • The condominium segment saw the highest increase in sales, at 22% (1,361 transactions).
  • Single-family home sales went up by +6% to 1,971 transactions, and ‘plex sales increased by +5% to 395 transactions.

Prices

  • The median price of ‘plexes jumped by 11% to reach $525,000, representing the highest increase.
  • Single-family homes and condominiums appreciated more moderately than in October of last year, both by +4%, to $329,250 and $265,000 respectively.

Active inventory

21,515 active residential listings were listed on the Centris system last month, which is a 17%  drop compared to October 2017.


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

 

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