Montreal sales hit a 9-year September high

Montreal’s housing market saw a further rise in sales in September, continuing its unabated run of more than three and a half years.

There were 3,220 sales concluded in the month by members of the Greater Montreal Real Estate Board, up 8% compared to September 2017 and a nine-year high for the month.

"Montréal's real estate market has been performing exceptionally well, as sales have increased for 43 consecutive months now, ever since March of 2015," said Nathalie Bégin, Interim President of the GMREB Board of Directors.

The South Shore led the gains with a 20% annual gain, followed by Laval (+12%), the Island of Montréal (+8%) and Vaudreuil-Soulanges (+5%). Sales were unchanged on the North Shore but fell by 14% in Saint-Jean-sur-Richelieu.

Condo sales jumped 23% (1,206 transactions) while plexes gained just 1% (349 transactions), and there was no change in single-family detached sales (1,660 transactions).

Median prices increased year-over-year across the Montréal CMA: 7% for single-family homes to $336,000; 6% for plexes to $504,040; and 4% for condos to $263,000.

In September, there were 21,227 active residential listings in the region’s Centris system, 17% lower than in September 2017.


More Mortgage Guide