Sales, appreciation rates and active listings on Montreal Island.
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.
TL;DR: Condos and ‘plexes recorded the highest appreciation rates on Montreal Island. In the larger Montreal CMA, plexes performed best for price growth, and condos performed best for sales.
In total, 1 501 residential sales were concluded in February 2019 on the Island of Montreal, a -1% decrease compared to January of last year.
|Residential Statistics – Montreal Island|
|Total residential||1 501||1 510||-1%|
|Plex (2-5 dwellings)||231||211||9%|
|Single-family||$462 500||$461 250||0%|
|Condominium||$325 000||$300 000||8%|
|Plex||$589 500||$545 000||8%|
|Total residential||$723 839 969||$692 333 868||5%|
|Active||7 654||8 959||-15%|
|New||2 603||2 644||-2%|
Residential Statistics – Montreal CMA
Sales by geographic area
- Four of the six metropolitan areas of the Montreal CMA recorded increased sales in February.
- The North Shore, Laval, the South Shore and Saint-Jean-sur-Richelieu performed best with sales increases of 17%, 16%, 1% and 10%.
- Sales in the Vaudreuil-Soulanges area were unchanged compared to February of last year.
- Sales on the Island of Montreal fell by 1%.
Sales by property category – Montreal CMA
- Across the Montreal CMA, the number of transactions rose by 4% for single-family homes (2,436 sales), by 14% for condominiums (1,588 sales) and by 7% for plexes (339 sales).
Prices – Montreal CMA
- The median price of single-family homes across the Montreal CMA rose by 3% 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% compared to February of last year to reach $522,000.
Number of properties for sale – Montreal CMA
In February, there were 22,252 active residential listings in the Montreal CMA, a -15% drop compared to one year earlier.