The Greater Montreal real estate market remains a popular seller’s market with high demand and low supply – .

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The Greater Montreal real estate market remains a popular seller’s market with high demand and low supply – .


MONTREAL – Soaring prices and the shortage of single-family units caused real estate sales in the Montreal region to plummet in June.

The Professional Association of Real Estate Brokers of Quebec (APCIQ) has released its June sales statistics for the Montreal metropolitan area, and they show a seven percent decrease in sales compared to June 2020 (4,619 units).

“Residential sales in the Montreal area fell significantly in June, mainly due to a historic shortage of single-family homes available for sale and a sharp increase in prices that also extended to the condominium segment. Said Charles Brant, director of APQAP’s market analysis department.

Brant added that single-family homes in the suburbs of Montreal were at the heart of the high numbers for June 2020 after the first wave of COVID-19. This year, those sales fell as supply dwindled and prices skyrocketed.

The APCIQ notes that the real estate market in the greater Montreal area remains hot and that most houses and condos are selling above the asking price.

The median price of single-family homes is $ 508,000 (up 29%), condominiums: $ 365,000 (up 20%) and plexes: $ 703,000 (up 16%).

Sales on the Island of Montreal increased 11 percent mainly due to condo sales, according to the APCIQ, while sales declined in all suburban areas.

The trend is explained by a decrease in the supply of single-family homes (-37%) and condos (-4%), while the supply of plexes increased by 29%.

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