January saw continued growth in Montréal’s real estate market, with prices and the number of sales rising year-over-year, according to the Greater Montréal Real Estate Board (GMREB).
The strongest price growth was on the Island of Montréal, where the median price of a single-family home surged 10% compared with January 2017, from $416,750 to $460,000.
On a month-over-month basis, prices increased by 2.22%, from $450,000 in December.
Across the region, the median price of a single-family home rose 6% year-over-year, from $290,000 to $307,250. As for condos, the median price rose 4% on the Island, from $280,000 in January 2017 to $292,000 in January 2018.
Total real estate sales on the Island of Montréal rose 11% year-over-year, with the number of single-family homes sold in January 2018 up 5% from January 2017.
Across the region, total sales were up 13% year-over-year, with condo sales up 19% and single-family home sales up 10%.