Montreal’s residential real estate market – 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.
In total, 4,370 residential sales were concluded in February 2019, an 8 per cent increase compared to February of last year. This was the 48th consecutive increase in sales.
Sales by geographic area
- Four of the six main areas of the Montreal CMA registered an increase in sales in January.
- The North Shore, Laval, the South Shore and Saint-Jean-sur-Richelieu turned in exceptional performances with respective sales increases of 17 per cent, 16 per cent, 10 per cent and 10 per cent.
- Sales in the Vaudreuil-Soulanges area were unchanged compared to February of last year, while sales on the Island of Montreal fell slightly by 1 per cent.
Sales by property category
- Across the Montreal CMA, the number of transactions rose by 4 per cent for single-family homes (2,436 sales), by 14 per cent for condominiums (1,588 sales) and by 7 per cent for plexes (339 sales). Residential Statistics – Montreal CMA February 2019 Sales 2019 2018 Variation Total residential 4,370 4,059 8% Single-family 2,436 2,345 4% Condominium 1,588 1,393 14% Plex (2-5 dwellings) 339 316 7% Median price 2019 2018 Variation Single-family $320,000 $310,000 3% Condominium $250,000 $250,000 0% Plex $522,000 $484,000 8% Sales volume 2019 2018 Variation Total residential $1,606,314,059 $1,459,784,803 10% Listings 2019 2018 Variation Active 22,252 26,227 -15% New 6,999 7,069 -1% Prices
- The median price of single-family homes across the Montreal CMA continued to stand firm in February, increasing by 3 per cent to reach $320,000. The median price of condominiums remained unchanged at $250,000.
- As for plexes (2 to 5 dwellings), the median price jumped by 8 per cent compared to February of last year to reach $522,000.
Number of properties for sale
In February, there were 22,252 active residential listings in the Montreal CMA, a 15 per cent drop compared to one year earlier.