The Quebec Professional Association of Real Estate Brokers (QPAREB) reports that home sales in the Montreal area increased by 9.3% in August compared to the same month last year. Sales reached levels slightly above the historical average for this time of year.
The association says there were 2,991 home sales in the region for the month, compared to 2,737 in August 2023.
The median price of all housing types increased year over year, driven in part by a 6% increase in the price of a plex to $763,000 last month.
The median price of a single-family home increased 5.2% to $590,000 and the median price of a condominium increased 4.4% to $407,100.
APCIQ director of market analysis Charles Brant says the strength of Montreal’s resale market contrasts with the decline in many other Canadian cities struggling with higher household debt levels, lower savings and declining purchasing power.
Active registrations for August increased 18% from a year earlier to 17,200, while new registrations increased 1.7% to 4,840.