Newspaper article The Canadian Press

Condo Sales Surge Pushes Montreal Area Real Estate to Best November in Eight Years

Newspaper article The Canadian Press

Condo Sales Surge Pushes Montreal Area Real Estate to Best November in Eight Years

Article excerpt

Montreal condo sales surged in November

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MONTREAL - The Greater Montreal Real Estate Board says the region set a November record for condominium sales, which helped fueled a 12 per cent increase in overall residential transactions compared with the same month last year.

The number of condo sales across the region surged 23 per cent from last year to 1,137 in the month as the suburbs north and south of the Island of Montreal rose by 53 per cent and 33 per cent respectively.

Real estate board president Mathieu Cousineau says the oversupply of condos two years ago has now been completely absorbed and there is a seller's market in some Montreal neighbourhoods.

Sales of single family homes in November were 1,807 (eight per cent higher than last year) while plexes with two to five units were up five per cent to 402. …

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