(Montreal) The real estate market in the Montreal area was particularly active last month, despite a 19% decrease in the number of sales compared to the previous year, said the Professional Association of Real Estate Brokers of Quebec on Friday ( APCIQ)
A total of 3,675 residential properties were sold in the metropolitan area last month, said the APCIQ, making it the second best month of December in this regard, after the record of 4,541 recorded in the last month of 2020.
This vigor in transactions comes as the number of homes listed for sale was among the lowest ever recorded in the Montreal region, said the association.
Active listings for condominiums fell 29%, while listings for single-family homes slipped 26%. This decline was much smaller for plex listings, which house two to five dwellings, and fell by 6%.
The median selling price for a single-family home in the Montreal area reached $ 525,000 in December, which was a 22% increase over the same period in 2020.
A typical condo sold for the median price of $ 379,950, up 17% from December 2020.
“Buyers are trying to take advantage of mortgage rates at levels still very low before their increase announced for 2022”, explained the director of the APCIQ market analysis department, Charles Brant.
“Thus, the still marked market imbalance in favor of sellers continues to manifest itself in a significant rise in prices on the outskirts of the Island of Montreal, all categories of properties combined. ”