Sales continued to decline in
L’ILE-DES-SŒURS, Quebec, Oct. 05, 2021 (GLOBE NEWSWIRE) – The Professional Association of Real Estate Brokers of Quebec (APCIQ) has just published its residential real estate market statistics for the Montréal census metropolitan area (CMA) for the month of September, according to the Centris provincial database of real estate brokers.
“The slowdown in residential sales to pre-pandemic levels continued into September. A return to more normal economic activity resulting from the relaxation of sanitary restrictions is not the only factor explaining this situation: apart from high prices, the lack of goods to sell is still the main cause. It should be noted, however, that a resumption of pre-sales activity in new constructions has helped to divert some of the demand from the resale market in recent months ”, said Charles Brant, Director of the Department of Sales. APCIQ market analysis. Tense market conditions, prices continue to be under pressure but are starting to stabilize for single family homes. “
- A total of 3,671 residential sales transactions were concluded in the Centris real estate brokerage system in September, a drop of 28% compared to the record month of September 2020, thus reinforcing the downward sales trend that began in early spring. . In terms of year-to-date sales, they are only up 6 percent compared to the same period last year.
- Sales on the Island of Montreal fell 21% compared to September last year. For a fourth consecutive month, single-family homes recorded the largest sales decline at 38%.
- 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%).
- All three major property categories recorded lower sales compared to September of last year. Single-family home sales fell 37%, while condominium sales fell 18%. The decline in plex sales was slightly smaller, at 16%.
- The supply of residential properties on the market continued to decline in September with 11,182 active listings on the Centris system. This is 20% fewer properties than in September of last year. In terms of cumulative statistics, the number of properties available for sale in the Montreal CMA has also fallen by 20%, a phenomenon accentuated by the low levels of new listings in progress for several months.
- Median prices continued to rise sharply in September, reaching $ 504,500 for single-family homes (+ 17%), $ 365,000 for condominiums (+ 15%) and $ 690,000 for plexes (+ 13%). However, there has been greater stability in their evolution in recent months.
- The Montreal real estate market still presents significant overheating conditions, but the proportion of sales concluded above the asking price has weakened over the last five months and this is reflected in a decrease in the number of buyers making an offer on the same property.
Detailed and cumulative statistics for the Province and regions
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About the Professional Association of Real Estate Brokers of Quebec
The Professional Association of Real Estate Brokers of Quebec (APCIQ) is a non-profit association that brings together more than 13,300 real estate brokers and agencies. It is responsible for promoting and defending their interests, taking into account the challenges of the profession and the various professional and regional realities of its members. The APCIQ is also an important player in many real estate matters, including the implementation of measures to promote home ownership. The Association reports statistics on the residential real estate market in Quebec, offers training, tools and services related to real estate and facilitates the collection, dissemination and exchange of information. The APCIQ has its head office in Quebec and its administrative offices in Montreal. It has two subsidiaries: Centris inc. and the Quebec Real Estate College. Follow its activities on qpareb.ca or via its social network pages: Facebook, LinkedIn, Twitter and Instagram.
Centris is a dynamic and innovative technology company in the real estate sector. It collects data and offers solutions tailored to the needs of professionals. Among these solutions is Centris.ca, the most visited real estate site in Quebec.
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