Based on the account real estate agents are giving, the home sales in Montreal started off on a positive tone since the year started. It’s all good news for now and strong activity in Montreal’s housing market.
At the end of January, there was a total of 2,224 sales of homes that were experienced by the Greater Montreal Real Estate Board. From the year before, the sales figure went up by 5 per cent, and the month was recorded as the most active January in over 5 years.
“January’s sales increase can be largely attributed to the number of condominium transactions, which jumped by 21 per cent compared to January of last year. What’s more, condominium sales increased in all geographic areas and in all price ranges,” said the President of the GMREB Board of Director, Daniel Dagenais. In the whole of the CMA, the average price of single-family homes increases over the year by 6 per cent to $297,389, while plexes went up to $460,000 by 5 per cent and condo’s median price that was at an average of $240,000.