The market is currently seeing a surge in luxury sales activity, driving average sales prices up
Sotheby’s International Realty Canada has announced a new record-high residential property sale price in Quebec.
A six-acre waterfront estate located at the village of Senneville, in the Island of Montreal, will be sold for a whopping $19.885 million, the highest luxury sale price so far in Quebec. The sale is set to take place in a market seeing a record surge in luxury sales activity and prices across its urban and suburban sectors, Sotheby’s said.
“With over 400 feet of waterfront and breathtaking 180-degree views of the Lake of Two Mountains, this prestigious property is one of the most exceptional residential offerings not only within the Island of Montreal, but in the province as a whole,” said Cassandra Aurora, listing broker at Sotheby’s International Realty Quebec.
Sotheby’s represented both the seller and the buyer in the transaction.
“Although the property attracted steady interest from a diverse array of potential buyers, it was ultimately purchased by a buyer local to the region,” Aurora added.
Read more: Luxury housing market likely to see a strong fall season – Sotheby’s
Data from the Quebec Professional Association of Real Estate Brokers revealed that Montreal’s residential sales prices saw increases across all housing types in November.
The median price of a single-family home in the region grew by 21% annually to $525,000, while condos saw their value rise by 18% during the same period to $374,000. The median price of plexes went up by 15% year over year to reach $725,000, the QPAREB said.
