The market for luxury homes in Montreal showed no signs of slowing down last year.

A record number of homes sold for more than $1 million on the island in 2015.

The Quebec Federation of Real Estate Boards says 500 such homes were sold last year, representing an 18 per cent increase over a year earlier.

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High-end condos also sold well in 2015. (Radio-Canada)

The luxury home market, however, accounts for only a small portion — 2.2. per cent — of the total sales for the year.

Luxury condos priced above $500,000 also continued to sell well, with 689 sales recorded last year.

Paul Cardinal, director of the analytical department at the Quebec Federation of Real Estate Boards, said it's a good time for experienced buyers to enter the luxury market, with interest rates low.

"This is a great time for those who want a top-level category," he said.