In April | Residential sales up 25% in Greater Montreal

In April | Residential sales up 25% in Greater Montreal
In April | Residential sales up 25% in Greater Montreal

Residential sales in the Montreal metropolitan area jumped 25.5% in April compared to the same month last year.


Published at 11:54 a.m.

This is the third consecutive month where a strong increase has been observed, thus bringing activity back to levels comparable to its historical average for this period of the year, according to the Professional Association of Real Estate Brokers of Quebec (APCIQ).

This indicates that residential property sales in the region totaled 4,688 for the month, compared to 3,734 in April 2023.

Laval is the sector which experienced the strongest growth at 35%, followed by the island of Montreal (27%), the North Shore (26%), the South Shore (23%), Saint-Jean-sur -Richelieu (22%) and Vaudreuil-Soulanges (13%).

The median price increased year over year for all property types, led by a 7% rise in the price of a single-family home to $575,000 last month.

Meanwhile, the median price of a plex increased 4% to $754,000 and that of a condominium increased 2.7% to $400,598.

In the opinion of the director of the APCIQ market analysis service, Charles Brant, last month “confirms a very reactive recovery of the market” due to two elements: “increasingly obvious and imminent prospects of the return to a downward cycle of interest rates and a resumption of price growth that this drop in rates may suggest.

Active listings in April jumped 19% from a year earlier to 18,932, while new listings increased 33.1% to 7,099.


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