09 Dec November Real Estate Market Highlights
Feature photo©Bonnie Meisels
November Real Estate Market Highlights
November real estate market highlights confirm for the Island of Montreal:
Single-family homes outshone other types of properties in October, posting an eight-per-cent median price increase to $355,000, the data show. Plexes — defined as properties with two to five dwellings —– saw their median price climb seven per cent to $560,000, while condominium prices advanced six per cent to $280,000.
Home prices rose the fastest in Côte des Neiges/Côte St-Luc, according to the association. The median home in the area sold for $776,168 in the period, a 22-per-cent jump from last year’s third quarter.
Sud-Ouest, which includes Verdun, ranked second on the island of Montreal with a 20-per-cent increase, followed by Lachine/LaSalle at 14 per cent. Single-family homes in Sud-Ouest sold for $658,000, while the median price in Lachine/LaSalle was $500,000.
For condominiums, Villeray registered the steepest quarterly increase in median prices with a 27-per-cent jump, to $334,000.
The overall themes across all property categories are higher prices and much less inventory, and shorter selling times.
Some of the economic highlights: