MONTREAL — Housing costs within the Better Montreal space proceed to soar, whereas the variety of residential properties on the market is sinking quick.
The Affiliation professionnelle des courtiers immobiliers du Québec (APCIQ) on Friday reported that four,084 residential gross sales have been accomplished in November, up 13 per cent in comparison with November 2018.
Co-property gross sales have been up 21 per cent yr over yr, single-family residence gross sales have been up 11 per cent, and gross sales of residences with two to 5 items have been up 4 per cent.
Single household properties accounted for two,115 of the residential real-estate transactions in November.
4 out of the six main geographical sectors of the Montreal space noticed important residential gross sales will increase in November:
- Vaudreuil-Soulanges (up 48 per cent)
- Saint-Jean-sur-Richelieu (up 41 per cent)
- Laval (up 21 per cent)
- South Shore (up 16 per cent).
- North Shore (up 9 per cent)
- Montreal Island (up seven per cent)
The median worth for single-family properties offered within the Better Montreal Space in November was $350,000, six per cent greater than a yr in the past, a barely decrease enhance than these registered in September and October of this yr.
The median worth for co-properties hit $290,000 in November, up 9 per cent yr over yr, whereas the median worth for plexes was up 11 per cent to $579,500.
APCIQ, which represents some 12,700 real-estate brokers and brokers, additionally famous Friday that the availability of residential properties in November dropped for the 50th month in a row. The variety of properties listed on the centralized Centris real-estate listings system final month was 16,310, down 22 per cent yr over yr, the largest month-to-month year-over-year drop since 2002.
The period of time properties stay available on the market can also be shrinking significantly in all sectors, APCIQ stories, making the market beneficial for sellers of all residential sorts.
This report by the Canadian Press was first revealed Dec. 6, 2019.