Our Montreal real estate brokers have recently analyzed the latest APCIQ real estate statistics, covering the month of November 2024. In order to assess trends and developments in the Montreal real estate market over the past year, this analysis aims to compare the results obtained in November 2024 with data from November 2023. For a more precise analysis, real estate brokers have structured their observations into three main categories: single-family homes, divided and undivided co-ownerships, and plexes (2 to 5 units).
Analysis of real estate statistics for Montreal neighborhoods
Plateau-Mont-Royal
Single-family homes
In the Plateau-Mont-Royal district, there was a significant drop in the number of single-family properties, from 5 to 4 transactions, a decrease of 20%. On the other hand, the sale price of properties rose significantly, from $1 026 000 to $1 276 250, an increase of 24%. Finally, the average selling time rose from 33 to 51 days, an extension of 18 days.
Condominiums
Sales of divided and undivided co-ownerships on the Plateau rose significantly, from 46 to 67 transactions, an increase of 45%. The average sale price also rose, from $516 590 to $571 723, an increase of 11%. Lastly, the average sales time decreased slightly, from 47 to 45 days, a reduction of 2 days.
Plexes (2-5 units)
The number of income property sales on the Plateau-Mont-Royal also rose, from 22 to 31 transactions, an increase of 41%. Plexes also sold faster, with the average time to market falling from 94 to 55 days, a decrease of 39 days.
Rosemont-La-Petite-Patrie
Single-family homes
In the Rosemont district, sales of single-family homes rose sharply, from 1 to 5 transactions, an increase of 400%. House prices also rose, from $499 000 to $1 411 200, an impressive 80% increase. Lastly, the time to sell rose slightly, from 68 to 76 days, an increase of 8 days.
Condominiums
Sales of divided and undivided condominiums in the Rosemont-La-Petite-Patrie borough also rose, from 46 to 67 transactions, an increase of 45%. Sales prices followed this trend, rising from $516 590 to $571 723, an increase of 11%. Finally, the average selling time decreased slightly, from 47 to 45 days.
Plexes (2-5 units)
In the Rosemont district, sales of income properties also rose, from 22 to 31 transactions, an increase of 41%. At the same time, these properties sold more quickly, with the average time to market dropping from 94 to 55 days.
Villeray-Saint-Michel-Parc-Extension
Single-family homes
In the Villeray-Saint-Michel-Parc-Extension district, the number of sales rose sharply, from 5 to 11 transactions, an increase of 120%. The average sale price followed this trend, rising from $700 000 to $881 000, an increase of 25%. Finally, the average selling time decreased by 5 days, from 58 to 53 days.
Condominiums
Sales of divided and undivided condominiums in the Villeray district fell from 36 to 23 transactions, a decrease of 36%. The average sale price also fell, from $522 258 to $485 000, a drop of around 7%. Finally, the average sales time increased from 36 to 49 days.
Plexes (2-5 units)
The income property market in the Villeray district also recorded a slight increase, rising from 23 to 26 transactions. However, these sales took longer on average, from 65 to 75 days.
HOMA
Single-family homes
In the Hochelaga-Maisonneuve district, the number of single-family home sales remained stable at 2 transactions. However, the average sale price rose considerably, from $670 000 to $1 015 000, an increase of approximately 51.5%. Finally, the average selling time also increased, from 23 to 33 days.
Condominiums
As for sales of divided and undivided condominiums in the Hochelaga-Maisonneuve district, the number of transactions almost doubled, from 22 to 43, an increase of 95.5%. On the other hand, the average sale price fell slightly, from $422 623 to $417 807, a decrease of 1%. Finally, the average sales time decreased from 67 to 50 days, a reduction of 17 days.
Plexes (2-5 units)
Sales of income properties in Hochelaga-Maisonneuve also rose, from 5 to 14, an increase of 180%. The average sale time also decreased, from 73 to 67 days.
Outremont
Single-family homes
In Outremont, sales of single-family homes rose considerably, from 1 to 9 transactions, an increase of 800%. However, the average sale price fell from $5 500 000 to $2 260 333. Finally, the average selling time rose from 8 days to 15 days, an increase of 7 days.
Condominiums
Sales of divided and undivided condominiums in Outremont rose sharply, from 8 to 15 transactions. The average sale price also rose, from $708 500 to $791 598, an increase of 11.7%. Finally, the average sale time for these properties increased by 8 days, from 79 to 71 days.
Plexes (2-5 units)
Finally, the plex market in Outremont remained stable, with just one transaction. However, the average selling time rose considerably, from 21 to 201 days, an increase of 180 days.
Southwest
Single-family homes
Sales in the Southwest sector also increased, from 5 to 12 transactions. The average price also rose, from $849 800 to $800 361, an increase of almost 6%. Last but not least, the average sales time decreased from 133 to 51 days, a reduction of 82 days.
Condominiums
The condominium market in the Southwest also recorded an increase, with the average sale time rising from 53 to 78 days. The average sales price rose from $501 179 to $588 169, an increase of 17.4%. The average sales time fell from 59 to 51 days.
Plexes (2-5 units)
The income property market in the Southwest sector enjoyed strong growth. Plex sales rose from 4 to 18 transactions. However, the average selling time increased by 20 days, from 51 to 71 days.
Overview of the Montreal real estate market
Single-family homes
Sales of single-family homes rose sharply, from 269 to 374 transactions, an increase of 39%. The average house price also rose significantly, from $740 000 to $800 000, representing an increase of 8%. Finally, the average time to sell increased slightly, from 56 to 59 days, a gain of 3 days.
Condominiums
The market for divided and undivided co-properties was also booming. Sales increased by 35%, from 600 to 812. The average price of condominiums grew by 6%, from $449 000 to $477 000. The average selling time remained stable at 66 days, with no notable variation.
Plexes (2-5 units)
Plex sales recorded significant growth, rising from 170 to 268 transactions, an increase of 57%. The average sale price also climbed by 8%, from $773 500 to $836 000. Finally, the average time to sell a plex increased by 7 days, from 65 to 72 days.
In short, the real estate statistics for November 2024 highlight the dynamism of the Montreal real estate market. This vitality creates interesting opportunities for both buyers and sellers. If you’re ready to make your real estate project a reality, our brokers in Montreal are at your disposal to guide you through the buying or selling of your property.
