Montreal’s median condominium price rose 7.2% year-over-year in December 2024 amid a 54% surge in overall home sales compared to the same month in 2023, according to a new Quebec Professional Association of Real Estate Brokers (QPAREB) report.

The median condo price jumped to $419,550. Condo sales drove the overall dramatic increase in home trades, said QPAREB..

Overall home sales in the Montreal area reached 3,193 properties in December, up from 2,072 the previous year, marking the third consecutive month of year-over-year sales growth exceeding 40%.

Prices rose across all housing types, with the median price for plexes increasing 13.5% to $794,500 and single-family homes up 8.4% to $580,000. Despite the robust activity, active listings in December dipped slightly by 0.8% year-over-year to 14,706, while new listings saw a 10.9% rise to 2,724.

Seasonally adjusted data from the National Bank revealed that home sales rose 2.8% from November to December, continuing an eight-month streak of increases, the Canadian Press reported. Cumulative sales for 2024 were up 20.5% from the previous year, marking the highest activity since 2021.

The report points to sustained momentum in Montreal’s real estate market, with condos leading the charge amid robust demand and rising prices.

As Connect CRE Canada reported recently, QPAREB has also found that Montreal’s median condo price soared 70% between 2014 and 2024.

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