Real estate Montréal : Real estate statistics June 2024
Real estate Montréal : Real estate statistics June 2024
Main information:
- Sales : Total sales were up 13% on the previous year.
- Inventory: Active listings up 24%.
- Prices: The median price of single-family homes rose by 1% to $722,500.
- Condominiums: Condominium sales were up 9%, with a median price of $455,000.
- Plex: Sales of plexes (2-5 units) climbed 35%, with a median price of $824,500.
- Outlook: Recent rate cuts, market seasonality and pro-housing policies have supported market growth by boosting positive buyer sentiment.
Montreal real estate market, June 2024
In June 2024, the Montreal real estate market demonstrated impressive robustness, marked by a notable increase in sales, listings and median prices. This detailed analysis of data from the Association professionnelle des courtiers immobiliers du Québec (APCIQ) provides an overview of the main trends and performances in the various segments of the Montreal real estate market.
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- Real Estate Market Analysis – June 2024, Montreal
- Montreal property sales prices – June 2024
- Sales time for selling properties in Montreal – June 2024
- Breakdown of Real Estate Sales in Montreal – June 2024
- Registrations and Sales Volumes in Montreal – June 2024
Real Estate Market Analysis – June 2024, Montreal
The Montreal real estate market continued its growth momentum in June 2024. After a dynamic spring, statistical indicators for June show a solid performance by the real estate sector. This growth is underpinned by favourable economic conditions and increased interest from buyers, attracted by the opportunities offered by the Montreal market.
The 13% increase in total sales over the same period last year underlines the vitality of the market. This sales growth was accompanied by a 24% increase in active listings, reflecting an expanded offering and increased market activity. Buyers benefit from advantageous financing conditions, facilitating access to property and stimulating transactions.
Discover June’s statistics and infographic :
The Montreal real estate market showed signs of vitality and growth in June 2024. Total sales were up 13% on the same period last year, reaching 1,482 transactions. This increase reflects sustained interest in real estate in the region.
Active listings were also up by 24% to 9,548, indicating a growing supply on the market. Finally, sales volume was up 16%, reflecting solid demand and increased activity in the Montreal real estate sector.
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Performance of different property types
Single-family home
Sales of single-family homes rose by 7%, with 395 transactions in June 2024. The median price rose slightly by 1% to $722,500. Active listings rose by 17% to 2,170. These figures show stable demand and a slight increase in the value of single-family properties in Montreal.
Co-ownership
Condominium sales were up 9%, with 807 transactions. The median condo price rose by 4% to $455,000. Active registrations jumped by 30% to 5,714. This increase in listings indicates a growing supply in the condominium market, while demand remains strong.
Plex (2-5 units)
Plexes saw a significant 35% increase in sales, with 280 transactions in June 2024. The median price rose by 6% to $824,500. Active listings rose by 16% to 1,664. These figures show strong demand for multi-unit properties in Montreal, reflecting investor and buyer interest in this type of property.
“The various segments of the Montreal real estate market are showing stable, ongoing growth. Single-family properties remain popular with families, condominiums attract a wide range of buyers, and plexes offer interesting opportunities for investors. This diversity and positive dynamic testify to the health and resilience of the Montreal real estate market.”
Kyle Shapcott, leader in real estate
Montreal property sales prices – June 2024
June 2024 continued to demonstrate the resilience and stability of the Montreal real estate market. Property sales prices showed signs of stabilization, with moderate increases and fluctuations reflecting a well-balanced market.
Price stabilization
Property prices in Montreal have stabilized across all segments of the real estate market, with moderate increases indicating continued strong demand.
| Property type | Median Price (June 2024) | Increase compared with 2023 | Comments |
|---|---|---|---|
| Unifamily | 722 500 $ | +1 % | Strong demand, particularly from families. Stabilized prices showing a balanced market. |
| Condominiums | 455 000 $ | +4 % | Maintaining a central role in the market, attracting a wide variety of buyers. Moderate increase after several months of steady rise. |
| Plex (2-5 units) | 824 500 $ | +6 % | Slightly higher increase, reflecting added value in terms of rental income. Attractive choice for investors. |
Unifamily
The median price for single-family homes was $722,500, up 1% on the previous year. Although this increase is modest, it does indicate sustained demand for this type of property, which is particularly popular with families looking for space and comfort. The stabilization of single-family home prices shows a mature market, where buyers and sellers are finding a balanced middle ground.
Condominiums
Condominiums maintained their central role in the Montreal real estate market, with a median price of $455,000, up 4% on the previous year. This moderate increase is a sign of stabilization after several months of steady growth. Condominiums continue to attract a wide variety of buyers, from first-time buyers to investors, thanks to their diversity of offerings and relatively affordable prices compared to single-family homes.
Plex (2-5 units)
Plexes, comprising properties with two to five units, saw their median price rise to $824,500, marking a 6% increase over 2023. This increase is slightly higher than for other property types, reflecting the added value of these units in terms of potential rental income. Plexes remain an attractive choice for investors seeking to maximize their rental yield while benefiting from the stability of the Montreal real estate market.
Sales time for selling properties in Montreal – June 2024
June 2024 saw significant changes in property sales times in Montreal, illustrating the agility and vitality of the real estate market. These changes are particularly significant, as they reflect the confidence of buyers and the speed with which properties change hands.
There has been a noticeable reduction in sales times in several property categories, underlining robust demand and a competitive market.
Unifamily
The average sales time for single-family homes fell by 2 days to 51 days. This reduction, though modest, is indicative of strong demand and a dynamic market. Families are still actively looking for single-family homes, taking advantage of attractive financing conditions and the diversity of options available on the market. This improvement in sales times demonstrates the attractiveness and competitiveness of this segment.
Condominiums
For condominiums, the average selling time remained at 59 days, slightly higher than the previous month. This segment continues to attract a wide range of buyers, thanks to its affordability and the variety of properties on offer, from studios for singles to larger units for families. Stable selling times indicate steady demand and a balanced market for condominiums in Montreal.
Plex (2-5 units)
The average lead time for plexes fell slightly to 69 days, compared with 70 days the previous month. Although these properties require a greater financial commitment, they remain attractive to investors and owner-occupiers thanks to their rental income potential. The slight reduction in selling times reflects sustained demand and good turnover in this segment.
“The Montreal real estate market in June 2024 clearly demonstrated that conditions are ideal for fast and efficient transactions. With the summer season underway, we anticipate that these trends could continue, offering excellent opportunities for all market players.”
Valérie Lacasse
In conclusion, Montreal’s shortened sales lead times in June 2024 testify to a robust and dynamic real estate market. Buyers and sellers can look forward to efficient transactions and attractive opportunities in the months ahead.
Breakdown of Real Estate Sales in Montreal – June 2024
The breakdown of real estate sales in Montreal in June 2024 reflects buyers’ preferences for different property types, with condominiums continuing to dominate, followed by single-family homes and plexes.
This trend reflects local market dynamics and consumer choices in response to a variety of economic and social factors.
Condominiums
Condominiums accounted for 54% of real estate transactions in June 2024, consolidating their position as market leaders. The appeal of condominiums is underpinned by their relative affordability, often central location, and low maintenance requirements. These features make them particularly attractive to first-time buyers and investors. In June, the median condominium price was $455,000, up 4% on the previous year.
Unifamily
Single-family homes account for 32% of sales, attracting mainly families looking for extra space and privacy. Demand for this type of property remains strong, particularly in residential areas where the environment and associated services (schools, parks, etc.) add to their value. In June 2024, the median price of single-family homes reached $722,500, up 1% on the previous year.
Plex (2-5 units)
Plexes account for 14% of transactions, a stable share that underlines their continuing popularity among investors looking for rental income. These properties offer the possibility of combining investment and personal living, an attractive formula in the current economic climate. In June 2024, the median plex price rose 6% to $824,500.
The breakdown of real estate sales in June 2024 in Montreal shows a diversified and dynamic market. Buyers and investors can find attractive opportunities in various market segments, supported by favorable economic conditions and ongoing demand. The dominance of condominiums, strong demand for single-family homes and the appeal of plexes offer a balanced and promising real estate landscape for the rest of the year.
Every month, we present our analyses of real estate statistics for the Montreal market:
- Real estate Montréal : Real estate statistics July 2024
- Real estate Montréal : Real estate statistics June 2024
- Real estate Montréal : Real estate statistics May 2024
Registrations and Sales Volumes in Montreal – June 2024
The strong momentum of the Montreal real estate market is also reflected in the number of listings and the volume of sales.
New Listings on the Montreal Real Estate Market – June 2024
June 2024 marked a significant period of growth for the Montreal real estate market, characterized not only by increases in sales volume, but also by a notable rise in listings on the market. These two indicators testify to the strength and confidence currently prevailing in the Montreal-area real estate market.
Increase in registrations: The number of new listings saw an impressive rise in June, with an 8% increase over the same period the previous year. This increase in listings indicates that more homeowners are ready to sell their properties, often motivated by favorable market conditions, attractive prices, and an economic recovery that is stimulating real estate activity.
Overall, the market recorded 5,446 new listings in June, reflecting optimism among sellers and expectations of strong demand.
Montreal Real Estate Market Sales Volume – June 2024
Sales volumes have also followed an upward trajectory, with an increase of 12% compared with June 2023. This dynamic sales performance illustrates the market’s increased capacity to rapidly absorb newly listed supply, supported by active buyers and ongoing investment in the real estate sector.
Total real estate transactions reached around $2.36 billion in June, a sign of a booming market and renewed confidence in real estate investment.
Analysis and trends in the Montreal real estate market
In June 2024, several factors contributed to the positive momentum of the Montreal real estate market. The fall in interest rates has considerably boosted buyer sentiment, making financing conditions more favorable and thus stimulating demand. This economic situation, combined with the seasonal nature of the market, created a period of strong real estate activity just before the summer, a period traditionally slower in terms of transactions.
At the same time, housing policies implemented by local authorities are beginning to play a crucial role in promoting home ownership and supporting the development of new buildings. These initiatives will help balance supply and demand, ensuring an adequate supply of new listings and maintaining price stability.
These factors have combined to push the Montreal real estate sector into a phase of sustained growth, offering attractive opportunities for buyers and investors alike. In conclusion, the Montreal market presents itself as a dynamic and favorable environment, ready to welcome new transactions in the months to come.
To understand the impact of interest rates on the market, read our article on the subject.
Conclusion
The Montreal real estate market in June 2024 is showing positive, stable momentum. Moderate price rises, shorter selling times, and increases in new listings and sales volumes testify to a resilient market.
Lower interest rates, favorable seasonality and housing policies have boosted buyer confidence and supported market activity. These factors have created attractive opportunities for buyers, investors and sellers, and point to continued positive momentum in the months ahead.
For detailed analysis and local trends, consult our previous reports and stay informed to maximize your real estate opportunities.
To make your real estate projects a reality, put your trust in our team of real estate brokers in Montreal.
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