Montreal luxury real estate market soared 137% last year

Jan 12 2022, 6:02 pm

Montreal’s real estate market soared sky-high in 2021, and the luxury market was no exception to that.

In fact, according to a new report from Sotheby’s International Realty Canada, the number of luxury properties in Montreal with sales of over $1 million increased by 137% year-over-year to 1,810 properties sold in 2021.

“Canada’s real estate market was redefined in 2021,” said Don Kottick, president and CEO of Sotheby’s International Realty Canada. “There has been a transformative change in Canadians’ perceptions of the importance of their homes as an investment in lifestyle and pleasure, physical sanctuary and security, as well as financial stability and generational wealth.”

Single-family homes in Montreal priced at $1 million or higher soared to new heights in 2021. Luxury homes in the $4 million-plus range increased 178% from the year before, and luxury condos in the city rose 165% year-over-year.

One ultra-luxury condo —inside the Ritz-Carlton Residences — sold for $13 million, a historic record for condominium prices in the Montreal metro area.

Notably, in December 2021, the highest residential property sale in Quebec’s history was recorded by Sotheby’s International Realty for a majestic six-acre waterfront estate listed at nearly $20 million in Senneville.

More top-tier luxury sales from across the country can be found through Sotheby’s International Realty Canada‘s year in review.

Ty JadahTy Jadah

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