Montreal home prices surged in March as sales dropped
BNN Bloomberg
The Quebec Professional Association of Real Estate Brokers says last month's Montreal home prices crept up by an average 17% from last year as sales fell by almost 10%.
The Quebec Professional Association of Real Estate Brokers says last month's Montreal home prices crept up by an average 17 per cent from last year as sales fell by almost 10 per cent.
The board says the median price of a single-family home reached $565,550 in March, an 18 per cent gain from last year.
Condominiums saw a 16 per cent increase, making the median price $402,600 last month.
Sales for the month totalled 5,493, down 13 per cent from 6,281 last March.
Last month's new listings amounted to 7,217, down nine per cent from 7,295 the previous March.
Charles Brant, the association's director of market analysis, says the month was characterized by a renewed increase in prices, along with sales decreasing at a lower level than what was seen pre-pandemic.
