Montreal closes out 2018 with a new record high

December was a busier-than-usual month for real estate agents in the Greater Montreal CMA, concluding 2,825 sales.

Greater Montreal Real Estate Board data from the Centris database shows that it was the best December on record for sales and a 3% increase on the same month of 2017.

Sales have increased in the CMA for 46 consecutive months.

December’s gains were across five of the six main areas of the region led by Vaudreuil-Soulanges (13%) and Saint-Jean-sur-Richelieu (8%).

Transactions were also on the rise on the North Shore (6%), Laval (5%) and on the South Shore (3%) while the Island of Montréal was the only area that posted a decrease in sales, down 1% year-over-year.

Single-family homes saw a 3% gain and accounted for the largest share of sales (1,491) while condos gained 2% to 993 sales and plexes saw a 1% decline in sales to 336.

Inventory was tighter in December 2018 than a year earlier, dropping 18% to 18,970 homes available on Centris.

The median price of single-family homes and plexes increased significantly across the Montréal CMA in December, reaching $327,450 (up 7%) and $525,000 (up 8%) respectively. The median price of condos rose by 3% to $272,863.

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