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Strong Sales Growth on Montreal's Residential Real Estate Market in February

L’Île-des-Sœurs, March 6, 2019 –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).
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.




About the Quebec Professional Association of Real Estate Brokers

The Quebec Professional Association of Real Estate Brokers is a non-profit association that brings together more than 12,500 real estate brokers and agencies. It is responsible for promoting and defending their interests while taking into account the issues facing the profession and the various professional and regional realities of its members. The Association is also an important advocate for the implementation of measures that promote homeownership. It provides training, tools and services relating to real estate and facilitates the collection, dissemination and exchange of real estate information. The Association is headquartered in Quebec City and has its administrative offices in Montreal. It has two subsidiaries: Centris Inc. and the Collège de l’immobilier du Québec.

About Centris

Centris.ca is Quebec’s real estate industry website for consumers, grouping all properties for sale by a real estate broker under the same address. Société Centris provides real estate industry stakeholders with access to real estate data and a wide range of technology tools. Centris also manages the collaboration system used by more than 13,000 real estate brokers in Quebec.

For February 2019 statistics charts, click here.
For year-to-date statistics charts, click here.

For more information:

Taïssa Hrycay
Director
Communications and Public Relations

1-888-762-2440 or
514-762-2440, ext. 157
taissa.hrycy@qpareb.ca


Nathalie Rochette
Assistant Director
Communications and Public Relations

1-888-762-2440 or
514-762-2440, ext 238
nathalie.rochette@qpareb.ca