Sales in the Montreal CMA gained 11% year-over-year in April, marking the 50th consecutive month of increases year-over-year.
The Quebec Professional Association of Real Estate Brokers (QPAREB) reports that 5,973 residential sales were concluded in the month and all six areas of the CMA recorded gains.
Leading the way was The South Shore led the way with an 18% jump in sales, followed by the North Shore (+16%), Saint-Jean-sur-Richelieu (+13%), Vaudreuil-Soulanges (+10%), the Island of Montreal (+6%) and Laval(+1%).
Active listings fell 17% year-over-year to a total of 21,111.
"The drop in the number of active listings has created a situation of scarcity, which therefore puts upward pressure on prices," said Nathalie Bégin, President of the QPAREB. "We see that market conditions have tightened again for single-family homes and condominiums and have remained unchanged for plexes.”
Plexes (2 to 5 dwellings) registered the largest increase in median price, jumping by 8% to reach $540,000 but there were also gains for condominiums – up 6% to $260,000; and single-family homes gained 4% to $330,000.