15 Jan 2018 Finishes Strong in Montreal’s Real Estate Market
2018 Finishes Strong in Montreal’s Real Estate Market
According to December’s Centris report, across the Montréal CMA, the number of single-family home transactions rose by 3 per cent (1,491 sales) while condominium transactions grew by 2 per cent (993 sales). In contrast, plex transactions fell by 1 per cent (336 sales).
- The median price of single-family homes and plexes increased significantly across the Montréal CMA in December, reaching $327,450 (+7 per cent) and $525,000 (+8 per cent)
- The median price of condominiums rose by 3 per cent, reaching $272,863.
- In December, there were 18,970 active residential listings in the real estate brokers’ Centris system, an 18 per cent drop compared to one year earlier
As the rest of the Canadian housing market trends downward, Ottawa and Montreal post gains for the second half of 2018. “The weakness of most of the country’s large urban markets in the second half of the year meant, as table below shows, that the index was down of flat for five markets for calendar 2018: Calgary (−2.6%), Edmonton (−0.9%), Winnipeg (−0.5%), Quebec City (−0.1%) and Halifax (flat). For a calendar year, it was the narrowest diffusion of 12-month gains since the recession year of 2008. Up from a year earlier despite second-half retreats were Victoria (6.0%), Hamilton (4.4%), Toronto (3.7%) and Vancouver (1.4%). As expected, Ottawa-Gatineau (5.9%) and Montreal (4.4%) were among the leaders. The 12-month advance of the composite index, at 2.5%, was the smallest since 2009″
The Royal Bank just released their most recent real estate market report for Canada. Here is their January 2019 report and outlook for 2019