MONTREAL– Montreal- location house gross sales elevated 47 % in November in comparison with a yr in the past because the district’s property board states the world noticed the second-most process for the month on condition that 2000.
The Quebec Professional Association of Real Estate Brokers states 3,897 properties altered fingers within the space final month, up from 2,651 in November 2023. The acquire notes a turnaround from 3 successive years of gross sales decreases in November and goes past the historic customary for the month by 19 %.
Meanwhile, the typical fee for all actual property varieties was up year-over-year, led by an 11.2 % increase within the fee of a single-family house to $600,000, adhered to by a 7.6 % enhance for condos to $425,000 and a 5.3 % acquire for plexes to $770,000.
Chantal Routhier, the board’s assistant supervisor of knowledge analysis and administration, states the gross sales increase may be credited to the quick lower in charges of curiosity on condition that final June, along with brand-new federal authorities procedures to advertise personal a house.
But she retains in thoughts that brand-new record-high charges “present significant affordability challenges for many households, while the limited supply on the market further restricts the choices that meet their needs.”
There have been 4,909 new listings within the Montreal space final month, up 5.8 per cent from a yr earlier.
This report by The Canadian Press was first revealed Dec. 5, 2024.
The Canadian Press
