Both in Montreal and Quebec, residential activity is boiling. In one year, the number of transactions in the two cities experienced a significant increase, and the climbing of prices continues.
Since the effervescence of the pandemic, in 2021, Montreal has never known so many transactions in one month, have revealed the most recent statistics of the residential real estate market in the metropolitan census region (RMR) in Montreal, compiled by the Professional Association of Real Estate Brokers (APCIQ).
Last July, a total of 3,731 residential sales were concluded, an increase of 10 % compared to the same month last year. The most pronounced increase was recorded in Vaudreuil-Soulanges, while sales on the South Shore were the most modest.
The number of registrations for residential properties in force has increased low in one year, with growth of 2 %, thus still positioning the sellers in a clear situation, concludes the report.
Thus, prices continue to climb and the escalation remains well present, particularly for unified houses in certain cities of the RMR.
The median price of a unifamilial was established at $ 625,000 in July (+7 %), that of a condominium at $ 425,000 (+3 %) and that of a plex at $ 815,000 (+8 %).
“The rise in prices compared to the same month last year seems to run out a bit in the Montreal RMR,” said Hélène Bégin, Expert economist, Quebec Real Economy and Economy Market, at the service of APCIQ market analysis.
As revealed The press At the start of the week, the Montreal real estate market experienced a very active month of July and stands out from certain Canadian markets, notably those of Vancouver and Toronto, where sales and prices bent earlier this year, in the spring.
Québec
In Quebec, the increase in residential sales, in all categories of property, is also noticed: with a total of 744 transactions last July, the increase over one year is 12 %.
“The inventory of housing for sale has reached an unprecedented hollow in the Quebec Metropolitan region,” said the APCIQ, in its press release. “The total registrations in force has fallen by 28 % for a year,” it is added.
This strong pressure on the offer pushes prices to increase more in the capital. The median price of a single -family house has reached a summit of $ 453,500 in the RMR.
“Four in ten properties of properties are concluded at a price of 5 %, or more, that initially requested [dans la RMR de Québec] “, Underlines the economist-expert Hélène Bégin.
