Le Lézard
Classified in: Business
Subjects: SVY, ECO, RLE

Momentum Continues on Montreal's Real Estate Market in First Quarter of 2019


L'Île-des-Soeurs, QC, April 15, 2019 /CNW Telbec/ - The Quebec Professional Association of Real Estate Brokers (QPAREB) has released its most recent residential sales statistics for the Montreal Census Metropolitan Area (CMA), based on the real estate brokers' Centris provincial database. In total, 13,028 residential sales were concluded in the first quarter of 2019, a 6 per cent increase compared to the first quarter of last year.

Here are some of the Q1 highlights.

Sales

Prices

Active listings 

"The sharp drop in supply, combined with the increase in sales, means that market conditions are increasingly advantageous for sellers," said Anouk Vidal, Co-President of the Board of Directors of the Quebec Professional Association of Real Estate Brokers. "The market has become tighter, particularly on the Island of Montreal," she added.

Excellent First Quarter for Residential Sales in Quebec

The Quebec Federation of Real Estate Boards (QFREB) has released its most recent residential real estate market statistics for the province of Quebec, based on the real estate brokers' Centris provincial database. In total, 23,667 sales were concluded in the first quarter of 2019, a significant increase of 8 per cent compared to the first quarter of last year. This was the 19th consecutive quarterly increase in sales.

Here are some of the highlights for the first quarter of 2019:

Sales

"The demand for properties remains very strong, as we can see by the widespread increase in sales across the province," said Yanick Desnoyers, Manager of the QFREB's Market Analysis Department. "The solid performance of Quebec's real estate market is all the more impressive because it comes at a time when markets in Canada's other provinces are declining," he added.

Active listings

Prices

Finally, properties that sold in the first quarter of 2019 found a buyer faster than they did one year ago. Single-family homes sold in an average of 104 days, which is 6 days less than in the first quarter of last year, while condominiums sold in an average of 101 days, 14 days faster than last year.

About the Quebec Professional Association of Real Estate Brokers

The Quebec Professional Association of Real Estate Brokers is a non-profit association that brings together more than 12,500 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 Association is also an important advocate for the implementation of measures that promote homeownership. It provides training, tools and services relating to real estate and facilitates the collection, dissemination and exchange of real estate information. The Association 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 Quebec.

About the Quebec Federation of Real Estate Boards

The Quebec Federation of Real Estate Boards is a non-profit organization composed of Quebec's 8 real estate boards and the close to 13,000 real estate brokers who are their members. Its mission is to support Quebec's real estate boards in order to defend, protect and promote the interests of real estate brokers through the provision of services in the areas of professional practices, public affairs and market analysis. The QFREB is guided by an approach that is centred on collaboration and resource sharing.

About Centris®

Centris.ca is Quebec's real estate industry website for consumers, grouping all properties for sale by a real estate broker under the same address. Société Centris provides real estate industry stakeholders with access to real estate data and a wide range of technology tools. Centris also manages the collaboration system used by more than 13,000 real estate brokers in Quebec.

For more detailed statistics on the Montreal area, read the QFREB Barometer.

 

SOURCE Québec Federation of Real Estate Boards


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