Montreal home sales on pace with last July, above historical average: QPAREB

MONTREAL – The Quebec Professional Association of Real Estate Brokers says July’s Montreal home sales were little changed from a year ago but remained above the historical average for this time of year.

The association says sales for the month totalled 3,098, up one per cent from a year prior.

The association sees July as a sign that activity is picking up again after a “disappointing” June.

It says July was the first time since the summer of 2021 that the Island of Montreal drove activity in the market as sales of small-income and single-family properties picked up.

The average price of a single-family home was up one per cent from a year earlier to $555,000 in July, while condos were almost unchanged at $395,000. Plexes dropped six per cent to $735,000.

New listing across the market fell nine per cent from last July to 4,354.

This report by The Canadian Press was first published Aug. 4, 2023.