Montreal Sales Spikes Up.

The sale of homes in Montreal went up by 5 per cent in 2016 based on a recent report given by the Greater Montreal Real Estate Board. During last year, 39,926 residential properties were sold, with plexes up by 7 per cent showing a certain strength and condos increased by 8 per cent. An incline of 4 per cent in the sale of single-family homes.

There was a slight moderate increase in the price, with the average for single-family homes up by 2 per cent to $295,000, condos up to $460,000 by 1 per cent and plexes with a higher increase of 3 per cent to $460,000. For the first time in five years, there was a decline in active listings, with supply being down by 10 per cent.

Daniel Dagenais, President of the Board of Directors of the Greater Montreal Real Estate Board said; “Due to the increase in sales, combined with the decrease in active listings, market conditions became tighter for all property categories in 2016.”