(Montreal) The pace of home sales in Montreal fell 24% in October from their record high the same month last year, as prices soared.
According to the Professional Association of Real Estate Brokers of Quebec, sales in Montreal totaled 4,320 in October, up from 5,684 a year earlier.
The median price of a single-family home rose to $ 515,000 from $ 430,250 a year ago, while that of a condominium rose from $ 322,500 to $ 379,900.
The median price of plexes, for its part, advanced to $ 707,250 from $ 629,000 last year.
New registrations for the month fell to 5,515 from 7,110 in the same month last year, while active registrations stood at 11,195, down from 14,074 in October 2020.
The association said that the Montreal real estate market was still showing signs of significant overheating and that a large proportion of its sales were still carried out at amounts higher than the asking price.