February 6, 2018 |Source: MONTREAL GAZETTE
Montreal’s real-estate market continued to grow in January, with prices and the number of sales rising year-over-year, the Greater Montreal Real Estate Board said on Tuesday.
The strongest price growth in the region was on the island of Montreal, where the median price of a single-family home rose 10 per cent, when compared with January 2017, from $416,750 to $460,000.
On a month-over-month basis, prices were up 2.22 per cent, from $450,000 in December.
Across the Montreal region, the median price of a single-family home rose six per cent, year-over-year, from $290,000 to $307,250. The median price rose by less than one per cent, month-over-month.
The median condo price rose four per cent on the island, to $292,000 from $280,000 in January 2017.
However, those prices were down 10 per cent from $325,000 in December.
Across the region, the median price of a condo was up three per cent, from $237,120 to $244,750, year-over-year.
That was down 7.6 per cent from $265,000 in December.
Total real-estate sales on Montreal Island rose 11 per cent, year-over-year, with the number of single-family homes sold in January up five per cent from January 2017.
However, single-family home sales were down 11 per cent from December.
Condo sales on the island were up 13 per cent year-over-year, but down 17.5 per cent from December.
Across the region, total sales were up 13 per cent year-over-year, with condo sales rising 19 per cent and single-family home sales up 10 per cent.