Montreal’s housing market reached a new residential sales record for December last month, according to Centris data collected by the Greater Montreal Real Estate Board.
Representing the 46th straight month of growth in the number of transactions, December 2018 saw 2,825 home sales in Montreal, increasing by 3% year-over-year.
Single-family homes were the primary magnets of demand, with 3% annual growth for a total of 1,491 sales. Condo sales also sent up by 2%, up to 993 transactions. Meanwhile, plexes declined slightly by 1%, down to 336.
Read more: Record-high sales prices forecast for Montreal in 2018-19
This demand continues to eat up into the available inventory: As of the end of December 2018, there were 18,970 active residential listings in Montreal, 18% lower compared to the same time in the year prior.
The median price of single-family homes grew by 7% annually (up to $327,450), while that of plexes rose by 8% during the same time frame (reaching $525,000). Median condo prices had a more modest 3% year-over-year growth (to $272,863).