Four year high for Montreal’s November sales

Home sales in Montreal CMA have hit their highest November since 2011. The Greater Montreal Real Estate Board says that there were 2,779 residential sales concluded in the month, an 8 per cent rise compared to a year earlier. It was the ninth consecutive month of gains for the market.

“After eleven months, cumulative results for the year show a 6 per cent increase in sales compared to the first eleven months of last year,” said Daniel Dagenais, President of the GMREB Board of Directors. “This means that, in 2015, we are on track to register the first annual increase in sales in five years on Montréal’s residential real estate market.”

Single-family homes saw the largest rise, up 10 per cent; condo sales rose 6 per cent; and plex sales saw a 5 per cent increase, erasing the 3 per cent decline in October.

For the Montréal CMA as a whole, the median price of single-family homes reached $289,900, a 2 per cent increase compared to November 2014. For condos and plexes prices grew by 4 per cent to reach $239,000 and $455,000, respectively. Inventory fell by 2 per cent.
 

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