Secondly, home sales in the Montreal census metropolitan area advanced about eight per cent last year to a record 55,609 transactions, the Quebec Professional Association of Real Estate Brokers (QPAREB) said Friday in a statement. Peripheral markets fuelled the gains, with sales on the North Shore jumping 20 per cent while Vaudreuil-Soulanges posted a 13 per cent increase.
Activity was more muted on the island of Montreal, with transactions up a mere one per cent.
Listings dropped for a fifth straight year. Some 13,590 Montreal-area homes were listed for sale in 2020 — 26 per cent fewer than a year earlier. As a result, the average selling time in the census metropolitan area dropped to 52 days — the shortest period on record. In 2019, 71 days on average were required to sell a residential property.