Montreal’s real estate market showed no signs of slowing down in August.
According to the Greater Montreal Real Estate Board (GMREB), August was the most active month since it began keeping track of property sales.
In total, 2,899 residential sales took place in August 2017, which is an 8 per cent increase compared to August of last year.
The Island of Montreal showed the highest increase (12%) in sales.
Laval, the North Shore, and the South Shore also had strong performances in August.
Laval and the South Shore both had a 7% increase in sales, while the North Shore had a 5% influx.
Condominiums were August’s best sellers as sales jumped by 19 per cent
This was the eighth consecutive month in which condominiums showed the largest sales increase among the three property categories.
“The Montreal real estate market has been building an impressive track record,” said Mathieu Cousineau, president of the GMREB board of directors, in a release.
“Sales have increased for 29 of the past 30 months, with July 2016 (0 per cent) being the only month in which sales did not increase. The last monthly drop in sales dates back to February 2015.”