Data from Montreal Real Estate Board showed that this region set November record for sales of condos that helped the fuel at increase of 12% in the overall residential transactions that compared with same month as per last year.
Number of sales of condos across the region hiked by 23% yearly to 1,137 last month as suburbs south and north of Island of Montreal hiked by 33% and 53% respectively.
Mathieu Cousineau, Board President said that overall supply of condos around 2 years ago has been absorbed completely and sellers real estate market in Montreal neighbourhoods. You can know that How to Choose Housing That Will Make You Rich.
Number of sales of single family homes in Montreal Real Estate stood at 1,807 in November, it means 8% higher than the last year, whereas plexes with 2-5 units were higher by 5% to 402.
Around 3,348 residential sales were done in the month, these were the one of the most active sales in November in 8 years.
Paul Cardinal of Quebec Federation of Real Estate Boards attributed monthly housing gain during this year to foreign migration, low unemployment, consumer confidence and job creation. You can go through Montreal City Guide: Interactive City Guide to know about Montreal Real Estate.
With confidence of consumer that reached around 10-year high, Cardinal noted that people are saying that this is a very good time to make major purchase just like a house.
Growth in November was led by communities on south shore of the Montreal, which was up by around19%, and 13% sales were more on Island of Montreal.
Average sale price in Montreal Real Estate hiked by 6% to $387,254 in month of November.
On Island of Montreal, average sale price was around $496,103 which was up by 5% from $471,380 as comparatively to a year ago.