{"id":472991,"date":"2021-04-07T11:14:49","date_gmt":"2021-04-07T15:14:49","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=472991"},"modified":"2021-04-07T11:14:49","modified_gmt":"2021-04-07T15:14:49","slug":"the-shortage-of-single-family-homes-and-soaring-prices-are-propelling-condominium-sales-in-the-montreal-market","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/the-shortage-of-single-family-homes-and-soaring-prices-are-propelling-condominium-sales-in-the-montreal-market\/","title":{"rendered":"The Shortage of Single-Family Homes and Soaring Prices are Propelling Condominium Sales in the Montreal Market"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">L\u2019\u00ceLE-DES-S\u0152URS, Quebec, April  07, 2021  (GLOBE NEWSWIRE) &#8212; The Quebec Professional Association of Real Estate Brokers (QPAREB) has just released its residential real estate market statistics for the <strong>Montreal Census Metropolitan Area (CMA)<\/strong> for the month of March, based on the real estate brokers\u2019 Centris provincial database.<\/p>\n<p align=\"justify\">\u201cSales of single-family homes are down for the second month after seven consecutive months of record highs. A shortage of listings and the phenomenal growth in prices have adversely affected activity levels,\u201d notes Charles Brant, director of market analysis. \u201cIn the current context of soaring prices, households and investors are turning to other property categories with greater market availability,\u201d he adds.<\/p>\n<p align=\"justify\">\n        <strong>March highlights <\/strong>\n      <\/p>\n<ul>\n<li style=\"text-align:justify\">Residential sales up by 8 per cent in the Montreal CMA, a remarkable performance as sales of single-family homes fell by 7 per cent.\n<\/li>\n<li style=\"text-align:justify\">Island of Montreal: sales increase by 32 per cent for the second consecutive month. This robust activity is mainly attributable to condominium sales (+45 per cent).\n<\/li>\n<li style=\"text-align:justify\">Sales are down for two outlying areas: Laval (-14 per cent) and the North Shore (-5 per cent). However, Vaudreuil-Soulanges (+1 per cent), the South Shore (+4 per cent) and Saint-Jean-sur-Richelieu (+8 per cent) have posted a moderate increase.\n<\/li>\n<li style=\"text-align:justify\">Rise in sales of plexes (+36 per cent) and condominiums (+27 per cent) across the CMA. It is especially outside the Island of Montreal that plex sales have surged (+64 per cent).\n<\/li>\n<li style=\"text-align:justify\">Increase in active listings for condominiums (+20 per cent), primarily on the Island of Montreal (+59 per cent) compared to March 2020. The same for plexes which show a strong increase in listings on the Island of Montreal (+18 per cent) and more moderate on the outskirts of the Island. Active listings of single-family homes continue to drop (-43 per cent), particularly in the outlying areas of the Island.\n<\/li>\n<li style=\"text-align:justify\">With market\u00a0conditions continuing to be very favourable to\u00a0sellers, median prices continue to soar, which increases the risk of drifting towards an overvalued market, especially in this particular economic context with its uncertain outlook. Single-family homes reach a median price of $481,000 (+32%). Median price increases were also remarkably high for condominiums (21 per cent) and plexes (8 per cent).<\/li>\n<\/ul>\n<p align=\"justify\">Additional information:<\/p>\n<p align=\"justify\">\n        <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=SC0ho3WIb7G_n1eRfInHg3a7n7zW938BQAPRnY-fV9EarKAGQwg_nf-7krq1OiWv1bLFGvEja9A3GWWwd80qnTEriGX_OpZXPPT6vFqQdo9-iRQoT25Exlka1nH48bbhi-iVcQ-uLZlvARk8UttBkh5UyfN_q_U2yJ-UPzpyfm0=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Quarterly statistics \u2013 Barometer for the province of Quebec<\/a>\n      <\/p>\n<p align=\"justify\">\n        <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Sa4L8cM93wfWaULjWMfZZ62xaMWXYnlHzYxYcVBThuQOgDFWAbfiudHpNDT5KTUZhr41ci_hBpTMy-4VdLt1DULoKduH6_10BQzEEfxmzcm79KaDt-ZOl7QBlUznJx94QC8CsJYO6pmjuodXwrC2Cc17vvBmEPtrMZyFqqhEJzYnYaEqB-x_NZo9dVdWQRr9JPaFX7kpEA7zIb3923wApg==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><br \/>\n          <u>Detailed and cumulative<\/u><br \/>\n          <u>statistics for <\/u><br \/>\n          <u>the<\/u><br \/>\n          <u>province<\/u><br \/>\n          <u>and regions<\/u><br \/>\n        <\/a>\n      <\/p>\n<p align=\"justify\">If you would like additional information from the Market Analysis Department, such as specific data or regional details on the real estate market, please <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=HmXaZRNS2X9_nfUFgV5uYP4pU1RoMjo5hVZIACEAPHSpjLECEXVQL5PBQesjvDRMfSWClFvp6aHK6mjAGSwyPA==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>write to us<\/u>.<\/a><\/p>\n<p align=\"justify\">\n        <strong>About the Quebec Professional Association of Real Estate Brokers <\/strong>\n      <\/p>\n<p align=\"justify\">The Quebec Professional Association of Real Estate Brokers (QPAREB) is a non-profit association that brings together more than 13,000 real estate brokers and agencies. It is responsible for promoting and defending their interests while taking into account the issues facing the profession and the various professional and regional realities of its members. The QPAREB is also an important player in many real estate dossiers, including the implementation of measures that promote homeownership. The Association reports on Quebec&#8217;s residential real estate market statistics, provides training, tools and services relating to real estate, and facilitates the collection, dissemination and exchange of information. The QPAREB is headquartered in Quebec City and has its administrative offices in Montreal. It has two subsidiaries: Centris Inc. and the Coll\u00e8ge de l&#8217;immobilier du Qu\u00e9bec. Follow its activities at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=mNb4dGoK0aEf7k7qBPTErfy8c7GnWTQuRK_d1BD6e_O3qTOAUX4tm5qmJDkmCzXLaGQsUPYnr0XRCyrksibiRw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>qpareb.ca<\/u><\/a>or via its social media pages: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=OjhsOBdL9UGbnnvkurVIsKAX_E0wyU76IvAeeq-_bvOxIJYyTZ8UwGNsj4RqzJQX7_hyWERYmZa65iecH2ndSvbgIZQMiu64snN0j2M3nIY=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Facebook<\/a>, <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Z3u8BA9YAk9nzJoKu-muEMg1Qh_-0GjnZDo04WKXRGLJPb32bIzCdYK5v-Gw30LigXiZAmRFovTbpp9uy9ZJaCYv3_pakGqJnqdapodzG4M=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">LinkedIn<\/a>, <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=KxVn0OW3fTB4g_vr5GMhLoVE-n5XHlgacfIXnDibRKQ3dyRZjtC7al049M8kvXyiMQgOfS5ikJJMpKQHlViB1Q==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Twitter<\/a> and\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=YFdRe4dFjoABZRvgfRwjz3QR2_AJDTsBkLuwm-K76SbdX92ZyrG-gEnhTJkb2cL0QpCIXLSy_FvtMVp9PwPJJy2mYQ4hAA_fknvAInECGQo=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Instagram<\/a>.<\/p>\n<p align=\"justify\">\n        <strong>About Centris<\/strong>\n      <\/p>\n<p align=\"justify\">Centris is a dynamic and innovative technology company in the real estate sector. It collects data and offers solutions that are highly adapted to the needs of professionals. Among these solutions is <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=mP4dPGDFqKhKaI-fNjkoPpswkhmyhG5YFJYy2nMHs14gjSMEskmt39gD50x8G7XXxpMS-4cvgWfzOZq7S1AaHg==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Centris.ca<\/a>, the most visited real estate website in Quebec.<\/p>\n<p align=\"justify\">For more information:<\/p>\n<p align=\"justify\">\n        <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=7NJz6F-B__GHmvc2LkDgLESexuUbiW-3ihDt8qm4VIzF02FfcbkbSRA1hDT30aIJ9PEeaylOFRJAdNIDfejT1hibbVgdR1SZA_fru1hglQMDTxIhFqH6mKpJcxA5cjVp\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><br \/>\n          <u>Image<\/u><br \/>\n          <u>bank<\/u><br \/>\n        <\/a> (credit QPAREB) available free of charge.<\/p>\n<p align=\"justify\">\n        <strong>Marjolaine Beaulieu<\/strong><br \/>\n        <br \/>Publicist<br \/>Communications and Marketing<\/p>\n<p align=\"justify\">1-888-762-2440 or<br \/>514-762-2440, ext. 238<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Kbckr3LZu_OcAFctMVGKjMkGRcox4ihq2qEo2M9MQoGqdtWSQ1XiZjVmZ2PeRDjYxuV9q6DUBUMdNRBna_8l3g==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">media@qpareb.ca<\/a><\/p>\n<p>A table accompanying this announcement is available at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=W_kzGf9zswgu9K5WzHTEDoOggL1nHVY1doT9OdUF5xzByXFoLMb3BMQ84iXZ4HiM_v8BA0EeiAa3jICGJpL9jRA3R06MXusZy-0Xi_tNbCRRwqOOe91KFCUE9qpAY0xegXxnnecw3cbwzN_DWlAJx4vAMtlEZv_qKmi7JhLGmFfN8YYy_TFfofPBdDE4Nzkm3dACtowz2zdEBiH8aKrLhNAoprs-Sd-ZhjD86m-M3RwGnQ9S35zOXTqj89moHv3h2Up4haeiKRUWYKqyQUxKOQ==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">https:\/\/www.globenewswire.com\/NewsRoom\/AttachmentNg\/bae99e4d-bf4a-41c2-9ff0-00e4158e0ec8<\/a><\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIxMzAwOCM0MTA5OTQwIzUwMDA2NzMwNw==\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/3d76c757-255e-4567-a286-7efa5c826e9e\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>L\u2019\u00ceLE-DES-S\u0152URS, Quebec, April 07, 2021 (GLOBE NEWSWIRE) &#8212; The Quebec Professional Association of Real Estate Brokers (QPAREB) has just released its residential real estate market statistics for the Montreal Census Metropolitan Area (CMA) for the month of March, based on the real estate brokers\u2019 Centris provincial database. \u201cSales of single-family homes are down for the second month after seven consecutive months of record highs. A shortage of listings and the phenomenal growth in prices have adversely affected activity levels,\u201d notes Charles Brant, director of market analysis. \u201cIn the current context of soaring prices, households and investors are turning to other property categories with greater market availability,\u201d he adds. March highlights Residential sales up by 8 per cent in the Montreal &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/the-shortage-of-single-family-homes-and-soaring-prices-are-propelling-condominium-sales-in-the-montreal-market\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;The Shortage of Single-Family Homes and Soaring Prices are Propelling Condominium Sales in the Montreal Market&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-472991","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Shortage of Single-Family Homes and Soaring Prices are Propelling Condominium Sales in the Montreal Market - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/the-shortage-of-single-family-homes-and-soaring-prices-are-propelling-condominium-sales-in-the-montreal-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Shortage of Single-Family Homes and Soaring Prices are Propelling Condominium Sales in the Montreal Market - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"L\u2019\u00ceLE-DES-S\u0152URS, Quebec, April 07, 2021 (GLOBE NEWSWIRE) &#8212; The Quebec Professional Association of Real Estate Brokers (QPAREB) has just released its residential real estate market statistics for the Montreal Census Metropolitan Area (CMA) for the month of March, based on the real estate brokers\u2019 Centris provincial database. \u201cSales of single-family homes are down for the second month after seven consecutive months of record highs. A shortage of listings and the phenomenal growth in prices have adversely affected activity levels,\u201d notes Charles Brant, director of market analysis. \u201cIn the current context of soaring prices, households and investors are turning to other property categories with greater market availability,\u201d he adds. March highlights Residential sales up by 8 per cent in the Montreal &hellip; Continue reading &quot;The Shortage of Single-Family Homes and Soaring Prices are Propelling Condominium Sales in the Montreal Market&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/the-shortage-of-single-family-homes-and-soaring-prices-are-propelling-condominium-sales-in-the-montreal-market\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-07T15:14:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIxMzAwOCM0MTA5OTQwIzUwMDA2NzMwNw==\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/the-shortage-of-single-family-homes-and-soaring-prices-are-propelling-condominium-sales-in-the-montreal-market\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/the-shortage-of-single-family-homes-and-soaring-prices-are-propelling-condominium-sales-in-the-montreal-market\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"The Shortage of Single-Family Homes and Soaring Prices are Propelling Condominium Sales in the Montreal Market\",\"datePublished\":\"2021-04-07T15:14:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/the-shortage-of-single-family-homes-and-soaring-prices-are-propelling-condominium-sales-in-the-montreal-market\\\/\"},\"wordCount\":654,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/the-shortage-of-single-family-homes-and-soaring-prices-are-propelling-condominium-sales-in-the-montreal-market\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODIxMzAwOCM0MTA5OTQwIzUwMDA2NzMwNw==\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/the-shortage-of-single-family-homes-and-soaring-prices-are-propelling-condominium-sales-in-the-montreal-market\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/the-shortage-of-single-family-homes-and-soaring-prices-are-propelling-condominium-sales-in-the-montreal-market\\\/\",\"name\":\"The Shortage of Single-Family Homes and Soaring Prices are Propelling Condominium Sales in the Montreal Market - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/the-shortage-of-single-family-homes-and-soaring-prices-are-propelling-condominium-sales-in-the-montreal-market\/","og_locale":"en_US","og_type":"article","og_title":"The Shortage of Single-Family Homes and Soaring Prices are Propelling Condominium Sales in the Montreal Market - Market Newsdesk","og_description":"L\u2019\u00ceLE-DES-S\u0152URS, Quebec, April 07, 2021 (GLOBE NEWSWIRE) &#8212; The Quebec Professional Association of Real Estate Brokers (QPAREB) has just released its residential real estate market statistics for the Montreal Census Metropolitan Area (CMA) for the month of March, based on the real estate brokers\u2019 Centris provincial database. \u201cSales of single-family homes are down for the second month after seven consecutive months of record highs. A shortage of listings and the phenomenal growth in prices have adversely affected activity levels,\u201d notes Charles Brant, director of market analysis. \u201cIn the current context of soaring prices, households and investors are turning to other property categories with greater market availability,\u201d he adds. March highlights Residential sales up by 8 per cent in the Montreal &hellip; Continue reading \"The Shortage of Single-Family Homes and Soaring Prices are Propelling Condominium Sales in the Montreal Market\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/the-shortage-of-single-family-homes-and-soaring-prices-are-propelling-condominium-sales-in-the-montreal-market\/","og_site_name":"Market Newsdesk","article_published_time":"2021-04-07T15:14:49+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIxMzAwOCM0MTA5OTQwIzUwMDA2NzMwNw==","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/the-shortage-of-single-family-homes-and-soaring-prices-are-propelling-condominium-sales-in-the-montreal-market\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/the-shortage-of-single-family-homes-and-soaring-prices-are-propelling-condominium-sales-in-the-montreal-market\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"The Shortage of Single-Family Homes and Soaring Prices are Propelling Condominium Sales in the Montreal Market","datePublished":"2021-04-07T15:14:49+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/the-shortage-of-single-family-homes-and-soaring-prices-are-propelling-condominium-sales-in-the-montreal-market\/"},"wordCount":654,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/the-shortage-of-single-family-homes-and-soaring-prices-are-propelling-condominium-sales-in-the-montreal-market\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIxMzAwOCM0MTA5OTQwIzUwMDA2NzMwNw==","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/the-shortage-of-single-family-homes-and-soaring-prices-are-propelling-condominium-sales-in-the-montreal-market\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/the-shortage-of-single-family-homes-and-soaring-prices-are-propelling-condominium-sales-in-the-montreal-market\/","name":"The Shortage of Single-Family Homes and Soaring Prices are Propelling Condominium Sales in the Montreal Market - 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