2023-05-06 18:57:21
Real estate market data in the greater Montreal area in April 2023 confirms the increase in housing prices compared to the first months of the year.
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Although prices remain lower compared to April 2022, prices increased slightly in April 2023 compared to March 2023.
According to Centris data compiled by the Association professionnelle des courtiers immobiliers du Québec, the average price of a single-family home in Greater Montreal in March 2023 was $535,000. The following month, the average amount was $540,000, which represents an increase of $5,000. Buyers will therefore have to pay more to acquire a property.
MEDIAN PRICE BY PROPERTY CATEGORY (Quebec as a whole) – April 2023:
Single-family: $425,000
Condominium: $360,000
Plex (2-5 units): $544,500
The upward price trend is less noticeable in the greater Quebec City area, where the average price of a single-family home remained the same in March and April, at $350,000.
For their part, condominiums, like condominiums, had a median price of $390,000 in Greater Montreal.
MEDIAN PRICE PER PROPERTY CATEGORY (Montreal Metropolitan Area) – April 2023:
Single-family: $540,000
Condominium: $390,000
Plex (2-5 units): $720,000
Buyers have been spoiled for choice for a year, while the number of listings has increased significantly.
For single-family homes, some 12,064 listings were available on the market in April 2022. This number jumped to 19,107 in April 2023, representing an increase of nearly 60% across the province.
The trend is more marked in Greater Montreal, where the number of single-family homes for sale is up 75% compared to April 2022.
“At the start of the year, the markets in the south of the province, which had been the most exposed to overheating, overbidding and overvaluation until the start of 2022, experienced very low levels of sales. This has resulted in particular in the accumulation of properties that have not found takers,” explains the APCIQ via its Facebook page.
Joël Lemay / Agence QMI
Sales volume reached nearly $3.5 billion in April 2023, down regarding $1.2 billion from April 2022 data.
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