Condominium gross sales are rising sooner than single-family house gross sales and costs are skyrocketing within the suburbs

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Montreal space actual property market

Residential gross sales – February 2021

Residential gross sales – February 2021

L’ÎLE-DES-SŒURS, Quebec, March 02, 2021 (GLOBE NEWSWIRE) – The Skilled Affiliation of Actual Property Brokers of Quebec (ACQRÉ) has simply revealed its statistics on the residential actual property market Montréal census metropolitan space (CMA) for the month of February, in keeping with the Centris provincial database of actual property brokers.

“Condominium gross sales offset decrease gross sales of single-family houses in February. The drop in stock of properties on the market and hovering costs for single-family houses partly clarify the rise in condominium and plex transactions, ”mentioned Charles Brant, director of market evaluation at QPAREB. “The hole between the median value of condos in downtown Montreal (down) and the median value of condos within the suburbs (up sharply) is shrinking considerably,” he added.

February Highlights

  • Residential gross sales fell 3% within the Montreal CMA, the primary time since 2015 that gross sales have declined in a month of February.

  • The Island of Montreal carried out properly with a 6% enhance in gross sales, primarily attributable to condominium transactions, which jumped 16%. Alternatively, gross sales fell considerably in all peripheral markets: Saint-Jean-sur-Richelieu (-32%), Laval (-14%), Vaudreuil-Soulanges (-10%), the South Shore (-8 %) and the Côte-Nord (-3%).

  • Gross sales by actual property class: robust development in plexes (+ 19%) and condominiums (+ 8%) within the CMA.

  • Enhance in energetic listings of condominiums (+ 10%), primarily on the Island of Montreal (+ 54%). Energetic listings of single-family houses continued to say no (-51%), significantly in areas on the outskirts of the island.

  • As market circumstances are nonetheless very advantageous for sellers, median costs proceed to speed up dramatically in a context of upper bidding. The median value of single-family houses reached $ 460,000 (+ 28%), up $ 100,000 from simply 12 months in the past. Median value will increase have been additionally very excessive for condominiums (+ 24%) and plexes (+ 9%).

Extra info:

Quarterly statistics Barometer for the Province of Quebec
Detailed and cumulative statistics for the Province and areas

If you wish to get extra info from the market evaluation service, equivalent to particular information or regional particulars on the true property market, please write U.S.

In regards to the Skilled Affiliation of Actual Property Brokers of Quebec

The Skilled Affiliation of Actual Property Brokers of Quebec (QPAREB) is a non-profit affiliation that brings collectively greater than 13,000 actual property brokers and businesses. It’s answerable for selling and defending their pursuits whereas taking into consideration the challenges of the career and the completely different skilled and regional realities of its members. QPAREB can be an essential participant in lots of actual property points, together with the implementation of measures to advertise house possession. The Affiliation stories statistics on the residential actual property market in Quebec, affords coaching, instruments and providers associated to actual property and facilitates the gathering, dissemination and change of data. QPAREB has its head workplace in Quebec and its administrative workplaces in Montreal. It has two subsidiaries: Centris Inc. and the Faculty of Actual Property of Quebec. Observe its actions on qpareb.ca or by way of its social media pages: Fb, LinkedIn, Twitter and Instagram.

About Centris

Centris is a dynamic and modern know-how firm in the true property sector. It collects information and affords options tailor-made to the wants of execs. Amongst these options is Centris.ca, probably the most visited actual property website in Quebec.

For extra info:

Image Financial institution (QPAREB credit score) accessible freed from cost.

Marjolaine Beaulieu
Journalist
Communications and Advertising and marketing

1-888-762-2440 or
514-762-2440, ext. 238
[email protected]

A photograph accompanying this announcement is offered on https://www.globenewswire.com/NewsRoom/AttachmentNg/20e7964c-f529-41e4-9560-86d071d08131



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