Sales in the Montreal Census Metropolitan Area (CMA) were up more than 8 per cent in December compared to the same period in 2019, according to the Quebec Professional Association of Real Estate Brokers’ (QPAREB) newly released residential real estate market statistics.
“All areas of the Montreal CMA registered a new sales record for a month of December. However, we continue to see an increase in condominium listings that far exceeds the number of condo sales on the Island of Montreal,” said Charles Brant, director of market analysis at the QPAREB.
Active listings of single-family homes fell sharply by 44 per cent as listings for condominiums rose by 18 per cent—a number that has not been seen for a month of December since 2012. Listing for plexes also increased by 15 per cent.
Condo sales jumped by 26 per cent for December as sales of plexes and single-family homes shot up 35 per cent. Periphery markets are included in these stats, such as Saint-Jean-sur-Richelieu (+51 per cent), the North Shore (+49 per cent), Laval (+33 per cent), the South Shore (+31 per cent) and Vaudreuil-Soulanges (+25 per cent).
To sum it up, market conditions are said to side with sellers, as average prices continued to increase significantly for single-family homes (+21 per cent), and remained at high levels for condominiums (+14 per cent) and plexes (+10 per cent). The average price for a condo currently sits at $290,000, whereas in December 2019 it was $255,000.