Real estate in the Montreal region is experiencing a prosperous period, with figures showing positive dynamics for sellers and an opportunity for buyers. Let’s take a closer look at what’s going on.
A significant increase in residential sales
On the South Shore of Montreal, residential sales experienced a remarkable increase of more than 23% compared to April 2023. This trend is even more marked in Greater Montreal, where sales increased by more than 25%. These figures indicate a booming market.
Median property prices on the rise
The median price for all property types reached $575,000, an increase of 7% from the previous year. This price growth reflects a strong real estate market and sustained demand.
Plexes and condos see their prices increase
Plexes, very popular with investors, sell on average 4% more expensive, with a median price of $754,000. Condos are not left out, with an increase of 2.7% for a median price of $400,600. These increases reflect the growing value of these types of properties.
A market in recovery according to the APCIQ
The Professional Association of Real Estate Brokers of Quebec (APCIQ) attributes this strong recovery in the real estate market to the possible drop in interest rates. This anticipation stimulates activity and contributes to price growth.
A jump in registrations in April
To complete this picture, listings in April saw a dramatic 33% increase compared to April 2023. This suggests that many homeowners are eager to take advantage of this seller’s market.
In conclusion, the real estate market in the Montreal region is booming, offering opportunities for both sellers and buyers. With interest rates potentially lower and demand remaining strong, this is a key time for those considering embarking on the real estate adventure.
