Sales of residential properties in the Greater Montreal area and new listings for sale fell last month, while prices soared more than 20% from last year, the Trade Association said on Tuesday. Quebec real estate brokers (APCIQ).
November 2021 sales were 4,402, down 17% from the 5,296 transactions in November 2020, the association said. New listings for sale totaled 5,056 in November, down 14% from 5,848 in the same month last year.
15%
This is the growth in the median price of buildings with two to five units, reaching $ 725,000.
The median price of a single-family home rose 21% from last year to $ 525,000, while condominium prices rose 18% to $ 374,000. The median price of buildings with two to five units grew by 15% to reach $ 725,000.
Sellers are launching
Median prices also increased compared to October 2021, with the exception of condominiums, which declined slightly.
18%
This is the advance of the median price of condominiums, to $ 374,000.
According to the director of the APCIQ’s Market Analysis Department, Charles Brant, the weak supply of properties and particularly strong demand last month put upward pressure on prices and convinced some potential sellers to take the plunge. on the market.
“The announcement of an earlier-than-expected rise in interest rates no doubt decided potential sellers to move ahead with their project in order to benefit from the sustained activity and the opportunity to sell at the best price,” he said. he said in a press release.
Watch video