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Greater Montreal area real estate remained hot in December, realtors group says
Montreal Gazette - January 5, 2021
Real estate sales in the greater Montreal area jumped by 8 per cent in December compared to December 2019 with plexes, family homes and condos snapped up by buyers, says the Quebec Professional Association of Real Estate Brokers (QPAREB).
However, Charles Brant, director of market analysis at the QPAREB, noted Montreal’s surplus of condo listings. Brant said on Tuesday that “we continue to see an increase in condominium listings that far exceeds the number of condo sales on the island of Montreal.” Sales of condominiums still rose by 26 per cent, though, in 2020.
As was the case for much of 2020, sales were strong in the periphery of Montreal Island, with a 51-per-cent increase in sales recorded in Saint-Jean-sur-Richelieu, a 49 per cent jump in the North Shore, and an increase of 33 per cent and 31 per cent recorded respectively in Laval and the South Shore. There was also a 25 per cent jump in sales in Vaudreuil-Soulanges.
Other highlights recorded in December include:
• Sales of plexes and single-family homes jumped by 35 per cent.
• A sharp increase (18 per cent) in the number of listings for condos and plexes (15 per cent), numbers that have not been seen in the month of December since 2012 and 2011, respectively.
• Meanwhile, active listings for single family homes dropped by 44 per cent, although the median price for those homes increased by 21 per cent and also remained at high levels for condominiums (up 14 per cent) and plexes (up 10 per cent).
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