Montreal real estate market still hot despite COVID-19 second wave

The surge of COVID-19 cases during the second wave of the pandemic did not affect the real estate resale activity in October in the Montreal area.

Quite the contrary.

The Quebec Professional Association of Real Estate Brokers (APCIQ) reported a strong increase in sales and a still substantial drop in active listings in sectors around the Island of Montreal.

L’activité se maintient à des niveaux exceptionnels en octobre à Québec et le nombre de propriétés en vente accentue sa chute
Consultez le communiqué de presse pour en savoir plus https://t.co/HzMFm4eB90#APCIQ #Quebec pic.twitter.com/WrqvAQbZ98

— Ass. prof. des courtiers immobiliers du QC (@APCIQ_QPAREB) November 3, 2020

Very strong increases were seen last month in Vaudreuil-Soulanges (+63), Laval (+38), and the South Shore (+31).

Income properties and condominiums both posted the largest sales growth (+37).

The association also noted a more marked increase in active listings for condominiums (+12), not seen since 2014, contrasted with single-family homes, which were down sharply (-35 per cent).

Median prices have continued to experience very significant increases: 21 per cent up for single-family homes, 16 per cent for condominiums and 12 per cent for small income properties.

The most recent statistics for the residential real estate market in the Montreal region are based on the Centris provincial database of real estate brokers. The APCIQ includes more than 13,000 real estate brokers and real estate agencies.

-- this report by The Canadian Press was first published Nov. 4, 2020.

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