12 Feb Last Quarter of 2019 Montreal Market Stats

Last Quarter of 2019 Montreal Market Stats

The last quarter of 2019 Montreal market stats shows for the Island of Montreal a sellers market for up to 600k and a balanced market for more than 600k

Fourth Quarter Sales:   4587   Increase of  11%
Active listings:                   5765   Decrease of -19%
New listings:                       4934  Decrease of  -6%
Sales volume (in thousands):     $2516709  Increase of  22%

Sales by property category:

Single-family homes

Sales:                                       1,316      Increase of  12%
Active listings :                      1809      Decrease of  -6%
Median price:                  $530,000   Increase of     7%

Average Price:                 $700648     Increase of     4%

Average selling time (days):      58   Decrease of   -3

Condominiums

Sales:                                          2365                          Increase of   10%
Active listings:                          2894                         Decrease of  -24%
Median price:                  $360,000                          Increase of   13%                                                                                                              Average Price:                  $416, 114                          Increase of    12%
Average selling time (days):     66                           Decrease of  -16

Plex (2-5 units) 

Sales:                                         906                           Increase of  13%
Active listings:                        1062                          Decrease of  -26%
Median price:                 $625,000                         Increase of  11%                                                                                                                  Average Price:                $675,145                           Increase of  12%
Average selling time (days):     68                         Decrease of  0

The overall themes across all property categories are higher prices and much less inventory, especially across the plex and condominium categories.

Download and read the full report

‘Exuberant’ market to bolster Montreal home sales in 2020

Residential sales in Montreal are predicted to see blistering growth throughout the year, according to the Quebec Professional Association of Real Estate Brokers. In its forecast released late last week, the QPAREB said that home sales activity in the Greater Montreal Area will likely go up by 6% in 2020, reaching an unprecedented total of 54,600 transactions.

According to the latest 4th quarter report by Royal Lepage, the average home sales price in the Greater Montreal Area went up by 6.3% year-over-year to reach $433,993. “This was the market’s strongest rate of increase in average housing prices in almost a decade. Indeed, 2019 was the third straight year that housing prices in the region posted annual growth of more than 5%.” “Since the end of 2010, the aggregate price has increased 26.2%, a difference of $113,756,” the Royal LePage report added.

Strong employment, purchasing power, inbound migration, and prevailing low interest rates are leading factors stimulating demand. Montreal and Ottawa will be the foremost seller’s markets in the luxury housing segment this year according to the ““Canadian Year-End Luxury Real Estate Report” by Engel & Völkers.

“Large investments by global corporations in downtown Montreal as well as an influx of start-ups are fueling the price surge,”  according to Engel & Völkers. Many properties are selling above asking and the amount of bidding wars have intensified in Montreal, reaching record numbers last year.