Sales continued to decline in
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L’ILE-DES SOEURS, Quebec L’ILE-DES-SOEURS in Quebec, October. 5 2021 (GLOBE NEWSWIRE)
The Professional Association of Real Estate Brokers of Quebec (APCIQ) has recently released its market data for residential real estate of Montreal. Montreal Census Metropolitan Area (CMA) for the month of September, as per the Centris provincial database of real estate brokers.
“The decline in sales of residential homes to pre-pandemic levels lasted into September. A return to normal economic activity due to the lifting of health restrictions isn’t the sole reason for the current situation. Other than cost-intensive products, the shortage of merchandise to market is the most significant reason. It’s worth noting that the return of pre-sales in the construction industry has helped in removing certain amounts of demand away from the resale market over the last few years, “said Charles Brant, Director of the Sales Department. APCIQ analysis of the market. Market conditions are tense and prices are still under pressure, but they are beginning to stabilize for single-family homes. “
Highlights of September
- The total number of residence sales were closed through the Centris real estate brokerage system in September, which is a decrease of 28% when compared to the record-setting year-end of Sept. 2020. increasing the downward trend in sales which began in early spring. . As for sales, at the beginning in the new year they’ve only grown by 6 percent over the same time last year.
- The sales in Montreal‘s Island of Montreal dropped 21% in comparison to September of last year. For the fourth time in a row home owners with a single family recorded the highest decline in sales, with 38 percent.
- As in the previous month, sales fell in all outlying regions of the CMA, caused by a slowdown in sales of single-family homes: Saint-Jean-sur-Richelieu (-35%), Laval (-33%) the North Shore (-33%), the South Shore (-32%) and Vaudreuil-Soulanges (-26%).
- The three main property types recorded lower sales than September of the previous year. Single-family home sales declined by 37% while condominium sales dropped 18 percent. The decline in sales for plexes was less dramatic, with 16 percent.
- The number of homes for sale available for sale decreased in September, with 11182 listings active through the Centris system. This is 20% less properties than the September of the previous year. As for total statistics, the amount of properties to purchase within Montreal CMA has also decreased by 20%. Montreal CMA has also fallen by 20%, which is that is exacerbated by the lack of listings that are in the process for a number of months.
- Median prices rose dramatically in September, peaking at $ 504,500 in single-family homes (+ 17 percent) while $ 365,000 was in condominiums (+ 15 percent) and $690,000 for concrete plexes (+ 13 percent). But, there’s been a greater degree of variation in their rates over the last few months.
- It is true that the Montreal property market is experiencing significant overheating, however the percentage of sales completed over what was offered has declined over the past five months. This has been evident in the decrease in the number of buyers who make an offer for the identical property.
Comprehensive and cumulative statistics for the Province and its regions
If you’d like to get more details from Market Analysis Service, such as specific information or regional information on the market for real estate If you would like to know more, send us an email. U.S.
Information about the Professional Association of Real Estate Brokers of Quebec
It is the Professional Association of Real Estate Brokers of Quebec (APCIQ) is a non-profit organization that brings together over 13,300 real estate agents and brokers. Its mission is to promote and defending their rights and taking into consideration the challenges faced by the field and the different local and professional needs for its membership. It is also responsible for promoting and defending their interests. APCIQ is also a major actor in numerous real estate-related issues, including the implementation of policies to promote the ownership of homes. The Association publishes statistics about the real estate market for residential properties in Quebec as well as provides tools, training and other services in relation to real estate, and assists in the gathering, dissemination and exchange of data. The APCIQ is headquartered in Quebec as well as its administrative offices in Montreal. It also has two affiliates: Centris inc. and the Quebec Real Estate College. You can follow its actions on qpareb.ca or via its social networks: Facebook, LinkedIn, Twitter and Instagram.
More About Centris
Centris is an exciting and ingenuous technology-based company that operates within the residential real estate market. It gathers data and provides solutions that are tailored to the requirements of professionals. One of the solutions offered is Centris.ca it is the most popular real estate website in Quebec.
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