Montreal Area: Half of Single-Family Home Sales Sold for Over $500,000 in April

NUNS’ ISLAND, Quebec, May 05, 2021 (GLOBE NEWSWIRE) — The Quebec Professional Association of Real Estate Brokers (QPAREB) has just released its residential real estate market statistics for the Montreal Census Metropolitan Area (CMA) for the month of April, based on the real estate brokers’ Centris provincial database.

  • Important note: several statistics for April 2020 are not representative due to the exceptional pause in transactional activities and new property listings during this period. April 2019 statistics are used in calculating variations (for informational purposes). However, April 2020 remains a valid reference in determining variations in median prices and active listings.

“The number of transactions in the Montreal CMA reached a new record of 6,237 sales in April 2021 (+6 per cent compared to 2019). This healthy growth can essentially be attributed to condominium sales,” says Charles Brant, director of market analysis. “In this context, it is astonishing to note that sales of single-family home are below the level recorded for the same period in 2019. The low inventory of single-family homes for sale and the dramatic increase in prices in April continue to drive the demand for condominiums, which are more affordable and have lower maintenance and renovation costs.”

April highlights

  • The real estate brokers’ Centris system recorded 6,237 sales in April, a new record. This level of activity is consistent with that observed in March and should be viewed as a maintenance of activities, not as an acceleration in the number of transactions.
  • The number of sales of single-family properties reached 3,114 which is below the April 2019 level (-4 per cent), a decline that is more significant than it seems.
  • On the Island of Montreal, 2,399 sales were concluded, a record 17 per cent increase when compared to April 2019 and a level of activity consistent with that recorded last month. This robust activity can essentially be attributed to condominium sales following the same trend as that observed since the start of 2021.
  • Sales are down in most outlying areas compared to April 2019, the result of the drop in transactions in the single-family home category: Laval (609 sales, +4 per cent), the South Shore (1,378 sales, -2 per cent), Vaudreuil-Soulanges (271 sales, -3 per cent), Saint-Jean-sur-Richelieu (167 sales, -10 per cent). The North Shore stood out, however, with record activity for the month of April1 (413 sales, +1 per cent).
  • Condominium sales reached a new record (2,466), up 13 per cent from April 2019 across the CMA, which is consistent with the trend noted since the start of the year. Without setting a record, the same goes for small income properties (650 sales, +35 per cent). It is especially outside the Island of Montreal that plex sales have continued to surge. Single-family property sales (2,490) in outlying areas continue to decline: -7 per cent compared to April 2019.
  • Compared to April 2020, active listings of condominiums have increased by 22 per cent (5,298), with plexes also showing an upward trend (1,977 listings, +27 per cent). Active listings of single-family homes remain at an all-time low (4,249 listings, -40 per cent).
  • With market conditions still heavily favouring sellers, median prices are reaching new highs. The median price of single-family properties reached the psychological threshold of $500,000 (+39 per cent compared to April 2020). The growth rate of median prices also remains very high for condominiums and, to a lesser extent, for plexes with respective increases of 23 per cent and 15 per cent.

Additional information:

Quarterly statistics – Barometer for the province of Quebec

Detailed and cumulative statistics for the province and regions

For reference, consult the monthly statistics:

If you would like additional information from the Market Analysis Department, such as specific data or regional details on the real estate market, please write to us.

About the Quebec Professional Association of Real Estate Brokers

The Quebec Professional Association of Real Estate Brokers (QPAREB) is a non-profit association that brings together more than 13,000 real estate brokers and agencies. It is responsible for promoting and defending their interests while taking into account the issues facing the profession and the various professional and regional realities of its members. The QPAREB is also an important player in many real estate dossiers, including the implementation of measures that promote homeownership. The Association reports on Quebec’s residential real estate market statistics, provides training, tools and services relating to real estate, and facilitates the collection, dissemination and exchange of information. The QPAREB is headquartered in Quebec City and has its administrative offices in Montreal. It has two subsidiaries: Centris Inc. and the Collège de l’immobilier du Québec. Follow its activities at qpareb.ca or via its social media pages: Facebook, LinkedIn, Twitter and Instagram.

About Centris

Centris is a dynamic and innovative technology company in the real estate sector. It collects data and offers solutions that are highly adapted to the needs of professionals. Among these solutions is Centris.ca, the most visited real estate website in Quebec.

For more information:

Image bank (credit QPAREB) available free of charge.

Marjolaine Beaulieu
Publicist
Communications and Marketing

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

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e32eb937-9241-474f-93b4-8300371116f8

Resource News, Oil and Gas News, Mining News, Renewable News