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Ky iY A promising start to the year for real estate sales in Montreal and Quebec - The Times Hub

A promising start to the year for real estate sales in Montreal and Quebec

A promising start to the year for real estate sales in Montreal and Quebec

The real estate sector has had a promising start to the year in the Montreal and Quebec regions, with a respective increase of 17% and 16% in residential sales compared to January 2020, the Professional Association of Real Estate Brokers said on Tuesday. of Quebec (APCIQ).

In Greater Montreal, 3,971 sales were recorded for the month of January, compared to 3,398 sales the previous year.

“Despite more severe health restrictions, the month of January continues in the wake of 2020. Condominiums and plexes are experiencing record activity, including on the island of Montreal, with a number of sales never recorded since the start of the 2000s ”, explained in a press release Charles Brant, director of the Market Analysis Service at the APCIQ.

Strong increases were observed in particular on the island of Montreal (+ 17%), but also in peripheral regions, such as Vaudreuil-Soulanges (+33%), the northern crown (+ 29%), then the Rive- South (+ 17%).

Conversely, a drop in sales was observed in the Saint-Jean-sur-Richelieu (-6%) and Laval (-7%) sectors, attributable to the shortage of properties offered for sale.

Median prices have also increased in Greater Montreal, with an increase of 23% for single-family homes, 17% for condominiums and finally 14% for plexes.

“The only slowdown in sales growth for the single-family category is clearly attributable to the lack of active listings,” said Mr. Brant, with a 25% decrease from the year. 2020.

New record in Quebec

The Quebec City region also recorded a new record of transactions in January, with 829 sales in January 2021 against 713 at the same period last year.

“However, this is the first month since June 2020 where the increase is well below the 40% level,” said Charles Brant.

A lull which can be explained by “a drop of nearly two-thirds of current listings (in 12 months) in the single-family category and the fact that the Quebec market started last year with strong activity”, he clarified.

The northern outskirts of the Quebec City region nonetheless posted a record level of sales, which rose 49%. It is followed by the South Shore (+ 15%) and the agglomeration of Quebec (+ 11%).

Median prices are also hitting new highs, with prices of $ 350,000 for plexes (+ 9%) and $ 282,000 for single-family homes (+ 11%). Co-ownership, for its part, has seen a slight decrease of 2%.

The APCIQ statistics for the metropolitan regions of Montreal and Quebec were established from the Centris provincial database of real estate brokers.

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