Montreal’s Resale Market Showed No Signs of Slowing in October, Despite the Second Wave

L’ÎLE-DES-SOEURS, Quebec, Nov. 03, 2020 (GLOBE NEWSWIRE) -- The Quebec Professional Association of Real Estate Brokers (QPAREB) has just released its residential real estate market statistics for the Montreal Census Metropolitan Area (CMA) for the month of October, based on the real estate brokers’ Centris provincial database.

“With a historic 37 per cent jump in sales in October, the Montreal CMA maintained a strong increase in sales and a substantial decrease in active listings in the outlying areas of the Island of Montreal,” noted Charles Brant, director of market analysis at the QPAREB.

October highlights

• Significant sales increases in many periphery markets, including Vaudreuil-Soulanges (+63 per cent), the North Shore (+52 per cent) and Laval (+38 per cent), and equally remarkable for Saint-Jean-sur-Richelieu (+33 per cent), the South Shore (+31 per cent) and the Island of Montreal (+29 per cent).
• By property category, plexes (2 to 5 dwellings) and condominiums registered the largest sales increases (+37 per cent), followed very closely by single-family homes (+36 per cent).
• Active listings increased for condominiums (+12 per cent) and plexes (+3 per cent), which has not been seen since 2014 for a month of October, in contrast to single-family homes, which continued to decline sharply (-35 per cent).
• Median prices continued to rise significantly: single-family homes (+21 per cent), condominiums (+16 per cent) and plexes (+12 per cent).
• Record number of visits to the Centris.ca website, up 71 per cent compared to October of last year. This technology platform allows virtual open houses and private interactive showings, an advantage for real estate brokerage professionals and their clients.

An infographic accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b3f646d6-eb68-489e-a763-59fddca25cba

Additional information:

Quarterly statistics – Barometer for the province of Quebec
Detailed and cumulative (2020) statistics for the province and regions

If you would like additional information from the Market Analysis Department, such as specific data or regional details on the real estate market, please write to us.

About the Quebec Professional Association of Real Estate Brokers

The Quebec Professional Association of Real Estate Brokers (QPAREB) is a non-profit association that brings together more than 13,000 real estate brokers and agencies. It is responsible for promoting and defending their interests while taking into account the issues facing the profession and the various professional and regional realities of its members. The QPAREB is also an important player in many real estate dossiers, including the implementation of measures that promote homeownership. The Association reports on Quebec's residential real estate market statistics, provides training, tools and services relating to real estate, and facilitates the collection, dissemination and exchange of information. The QPAREB is headquartered in Quebec City and has its administrative offices in Montreal. It has two subsidiaries: Centris Inc. and the Collège de l'immobilier du Québec. Follow its activities at qpareb.ca or via its social media pages: Facebook, LinkedIn, Twitter and Instagram.

About Centris

Société Centris provides real estate industry stakeholders with access to real estate data and a wide range of technology tools. Centris tools are used by close to 14,000 real estate brokers, as well as other industry professionals. Centris also operates Centris.ca, the most visited real estate website in Quebec.

For more information:

Image bank (credit QPAREB) available free of charge.