Montreal's residential real estate sales soared in January: Report
Montreal’s residential real estate sales continued to be red-hot in January 2018.
According to a new report from the Greater Montréal Real Estate Board (GMREB), a total of 2,598 residential sales were completed in January 2018, up 13% from January last year.
These were the best January sales results in eight years.
CNW Group/Chambre immobilière de Montreal
“There are fewer and fewer properties for sale in the Montréal area and demand remains strong. As a result, the resale market is, generally speaking, more advantageous for sellers,” said Mathieu Cousineau, president of the GMREB board of directors, in a release.
According to the report, all six Montréal Census Metropolitan Area regions saw a climb in sales.
Saint-Jean-sur-Richelieu (80 sales) and the South Shore (628 sales) led the way with respective sales increases of 31 and 22%.
For the fourth consecutive quarter condominiums had the largest increase in sales. In January condo sales jumped by 19%.
It wasn’t just residential sales that had a stellar January performance. According to a report by CBRE, Montreal’s office market has also seen the largest amount of tenant demand on record.
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