Montreal’s Resale Market Showed No Signs of Slowing in October, Despite the Second Wave

L’Île-des-Sœurs, November 3, 2020 – The Quebec Professional Association of Real Estate Brokers (QPAREB) has just released its residential real estate market statistics for the Montreal Census Metropolitan Area (CMA) for the month of October, based on the real estate brokers’ Centris provincial database.

“With a historic 37 per cent jump in sales in October, the Montreal CMA maintained a strong increase in sales and a substantial decrease in active listings in the outlying areas of the Island of Montreal,” noted Charles Brant, director of market analysis at the QPAREB.

October highlights

  • Significant sales increases in many periphery markets, including Vaudreuil-Soulanges (+63 per cent), the North Shore (+52 per cent) and Laval (+38 per cent), and equally remarkable for Saint-Jean-sur-Richelieu (+33 per cent), the South Shore (+31 per cent) and the Island of Montreal (+29 per cent).
  • By property category, plexes (2 to 5 dwellings) and condominiums registered the largest sales increases (+37 per cent), followed very closely by single-family homes (+36 per cent).
  • Active listings increased for condominiums (+12 per cent) and plexes (+3 per cent), which has not been seen since 2014 for a month of October, in contrast to single-family homes, which continued to decline sharply (-35 per cent).
  • Median prices continued to rise significantly: single-family homes (+21 per cent), condominiums (+16 per cent) and plexes (+12 per cent).
  • Record number of visits to the centris.ca website, up 71 per cent compared to October of last year. This technology platform allows virtual open houses and private interactive showings, an advantage for real estate brokerage professionals and their clients.

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