Prices stabilizing on the Island of Montreal but continuing to rise sharply in peripheral areas

“Transactional activity was strong during the month of December, although experiencing a 19 per cent drop in sales compared to the same period last year. This downturn is consistent with a marked decrease in new listings which is always more significant in December,” remarks Charles Brant, director of market analysis. 

December highlights

• With only a 2 per cent drop in year-to-date sales, the Montreal CMA real estate market was particularly active in 2021. It should also be noted that this activity is compared with 2020, an historical year in terms of sales and despite the lowest number of listings ever recorded in the region.
• More specifically, despite a 19 per cent drop in sales in December, it nevertheless ranks second for the most active December on record, reaching 3,675 sales.
• The smallest drop was recorded in Vaudreuil-Soulanges (-7 per cent) while the Island of Montreal
  (-14 per cent), the South Shore and Saint-Jean-sur-Richelieu (-18 per cent) experienced more significant declines. The strongest decreases were observed on the North Shore (-26 per cent) and Laval (-27 per cent).
• Single-family homes and income properties saw the largest drop in sales, respectively -26 per cent and -18 per cent, followed by condominiums (-10 per cent).
• Active listings of condominiums (-29 per cent) and single-family homes (-26 per cent) continued to register sharp declines for this period, contrasting with plexes (-6 per cent).
• With market conditions still very strongly to the advantage of sellers, median prices continue to experience significant increases compared to the same period last year for single-family homes (+22 per cent). They remain at high levels for condominiums (+17 per cent) and small income properties (+14 per cent).

If there's any other questions I can answer, please don't hesitate to connect. 

Sophie Ou 1-514-898-6088