(Montreal) Property sales in the Montreal region increased by 47% in November compared to the previous year, which represents the second largest increase observed for this period since 2000.
Posted at 3:14 p.m.
The Professional Association of Real Estate Brokers of Quebec (APCIQ) indicates that 3,897 properties changed hands in the census metropolitan area (CMA) of Montreal last month, compared to 2,651 in November 2023. This increase reverses a trend of three consecutive years decline in sales in November and the result exceeds the historical average for the month of 19%.
Meanwhile, the median price of all housing types increased year over year, led by an 11.2% jump in the price of a single-family home to $600,000, followed by an increase of 7.6% for condominiums to $425,000 and an increase of 5.3% for plexes to $770,000.
Chantal Routhier, assistant director of analysis and data management at the APCIQ, explains that the increase in sales can be attributed to the rapid drop in interest rates since last June, as well as new government measures. aimed at facilitating access to property.
However, she underlines that the new price records “pose considerable accessibility challenges for many households, while, moreover, the limited supply on the market limits the choices in line with the desired needs”.
There were 4,909 new registrations in the Montreal region last month, an increase of 5.8% compared to the previous year.
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