Real estate Montreal : Real estate statistics November 2024

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December 6, 2024

Real estate Montreal : Real estate statistics November 2024

Main information:

Sales up 40%, reflecting sustained, dynamic demand.
Sales volume: $1.09 billion (+56%), a record for November.
Median prices up: single-family homes (+8%), condominiums (+6%), plexes (+8%).
New and existing listings: +10%, a broader offer for buyers.
Stable lead times, reflecting a well-considered and balanced market.

The month of November 2024 illustrates a Montreal real estate market that remains dynamic, with the trends observed in recent months continuing unabated. Despite fluctuating economic conditions, the appeal of home ownership remains strong. This month, sales continue to progress, accompanied by an increase in listings and an impressive sales volume.

Condominiums continue to dominate the market, accounting for a significant share of transactions, while single-family homes and plexes maintain their appeal to buyers looking for sustainable investments.

Prices continue to rise, reflecting robust demand, particularly for condominiums and single-family homes, despite slightly longer selling times. This November shows a resilient and balanced market, offering interesting opportunities for both buyers and sellers.

Let’s explore the details of November’s statistics.

Time needed: 6 minutes

Real estate Montreal : Real estate statistics November 2024
Montreal Property Sales Prices – November 2024
Property sales lead times in Montreal – November 2024
Breakdown of sales in Montreal – November 2024
Registrations and sales volume in Montreal – November 2024

Montreal Real Estate Market – November 2024

In November 2024, the Montreal real estate market is continuing its upward trend. This month, the total number of transactions reached 1,454, marking a 40% increase on November 2023. This increase underscores continuing strong demand, driven by favorable financing conditions and renewed buyer confidence.

On the supply side, new listings are up 10%, offering buyers more choice and an expanded inventory on the island of Montreal to satisfy all buyer profiles. This dynamic indicates a market where sellers remain active, taking advantage of momentum and meeting the expectations of buyers looking for varied opportunities.

Sales volume reached $1,090 billion, a significant 56% increase on last year. This performance reflects not only increased activity, but also the continued appreciation of Montreal real estate, positioning the city as an attractive and secure market for investors and homeowners.

Despite these impressive figures, sales times show that buyers are taking their time to evaluate the many options available. This approach highlights a balanced market, where abundant supply meets sustained demand to satisfy all players.

Finally, the rise in median prices, particularly visible for condominiums and single-family homes, testifies to the robustness and attractiveness of the Montreal market, meeting the needs of a wide range of profiles, from families to investors.

In short, November 2024 confirms the dynamism of the Montreal real estate market, offering a favorable environment for both buyers and sellers, and pointing to a promising year-end for the sector.

The data comes from the APCIQ (Association Professionnelle des Courtiers Immobiliers au Québec), see the full report here.

Read our monthly real estate statistics on our blog :

Montreal Property Sales Prices – November 2024

In November 2024, median prices on the island of Montreal continued to rise, confirming the market’s growing attractiveness. Whether for families, young professionals or investors, the market continues to offer interesting opportunities.

Statistics	Median price -Novembre 2024	Annual variation
Unifamily home	800 000$	+8%
Condominiums	477 000$	+6%
Plexs (2-5 units)	836 000$	+8%

Single-family homes

Single-family homes recorded a notable 8% increase, reaching a median price of $800,000. This growth can be explained by the growing appeal of this type of property, particularly among families seeking suitable space and quiet neighborhoods for their quality of life.

Condominiums

Condominiums continue to seduce, posting a 6% increase, with a median price of $477,000. Their popularity remains strong among young buyers and professionals looking for an urban lifestyle. This segment remains affordable while offering modern amenities, particularly in central neighborhoods.

Plexs (2-5 units)

Plexes recorded an 8% increase, reaching a median price of $836,000. This type of property remains a safe bet for investors, attracted by the stability of rental income and the potential for long-term appreciation. Plexes also enable some buyers to combine investment and housing, making them even more attractive.

In summary, the Montreal real estate market continues to show positive momentum, supported by robust demand in all property categories. Whether you’re looking to live or invest, there are still plenty of opportunities in a context where stability and value are the order of the day.

“November’s median prices confirm a solid trend: Montreal remains a sought-after destination where every type of property finds its audience. Whether you’re looking for a spacious single-family home, a condominium in the heart of the city or a plex to invest in, the market is showing a stability that inspires confidence in buyers and sellers alike.”

Kyle Shapcott – Leader in real estate

Property sales lead times in Montreal – November 2024

In November 2024, sales times for properties in Montreal show a slight stabilization, although still above the levels of the previous year. This trend reflects a market that offers buyers more options, encouraging well-considered, strategic decision-making.

– Single-family homes: Average sales time was 59 days (+3 days). This is due to an increase in the number of listings, offering families a wider range of options for finding the ideal property.

– Condominiums: Condominiums have an average lead time of 66 days (+0 days). Although this segment remains very attractive to young professionals and urban buyers, the abundance of supply is keeping transaction times stable.

– Plex (2 to 5 units): Plexes record an average lead time of 72 days (+7 days). This extension reflects an in-depth analysis by investors, who are carefully evaluating rental yields and opportunities in a favorable financing environment.

These slightly longer lead times are indicative of a dynamic in which the growing supply of properties is allowing buyers and investors to weigh up the pros and cons before committing themselves, while at the same time underlining the maturity of the Montreal real estate market.

Breakdown of real estate sales – November 2024

The breakdown of real estate sales in November 2024 highlights the continuation of trends observed in recent months, with condominiums dominating, followed by single-family homes and plexes. This distribution reflects a diversified market that adapts to the varied needs of buyers.

Condominiums: Leading the way in transactions, condominiums accounted for 55% of total sales in November. Their affordability and strategic location continue to attract young professionals, first-time buyers and investors looking for stable returns. This segment remains a preferred choice thanks to the flexibility it offers in booming neighborhoods.

Single-family homes: Single-family homes account for 25% of sales, confirming their appeal to families and buyers looking for properties offering more space and tranquility. The growing number of listings in this segment gives buyers a wider range of choices, stimulating activity.

image couverture article types de propriétés immobilier montreal

Plex (2 to 5 units): With 20% of sales, plexes maintain their stable position in the market. These properties are particularly attractive to investors because of their rental profitability and long-term value enhancement potential, even in a context where financing conditions are influencing purchasing strategies.

Montreal listings and sales volumes – November 2024

One of the key indicators of the vitality of the Montreal real estate market in November was the increase in new listings, active listings and an impressive sales volume.

Statistics	November 2024	Annual variation
Active listings	8 780	+10%
New listings	2 080	+10%
Sales volume	1 090 784 296$	+56%

In November, the Montreal real estate market stood out for its notable growth in new listings (+10%) and active listings (+10%), reflecting an expanded and diversified supply. This abundance of properties gives buyers a wide range of options, while sellers benefit from a climate where demand remains strong, supported by rising median prices.

Sales volume, reaching an impressive $1.09 billion (+56%), testifies to the effervescence of the market and sustained interest in Montreal real estate investment. Single-family homes and plexes stood out in particular, attracting both families and investors looking for properties offering stability and potential returns. These indicators confirm the resilience and vitality of the Montreal market, which continues to meet the expectations of a varied clientele.

Conclusion

November 2024 confirms the resilience and vitality of the Montreal real estate market. With significant increases in sales, listings and median prices, the market continues to attract buyers and investors, offering a balance of opportunity and stability. Whether you’re looking to buy for the first time, invest or change your life, Montreal remains a destination of choice, promising a promising real estate future for all market players.

sTo help you succeed in your real estate projects, put your trust in our team of Montreal real estate brokers.

Kyle Shapcott

kyle@equipels.com

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Kyle has been an expert on the real estate market for over 10 years. He is passionate about Montreal and the city’s real estate sector and regularly shares his analysis and advice in his articles.

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