Montreal home sales rise 8% in February to cap off four straight years of growth

MONTREAL – Home sales ramped up in Montreal last month, marking four years of continuous growth.

Quebec’s real estate broker association says home sales in metropolitan Montreal rose eight per cent to 4,370 in February compared with the same month in 2018.

Condominium sales shot up 14 per cent to 1,588 while single-family home sales increased four per cent to 2,436.

Sales of plexes, which include two to five units, hit 339, a seven per cent bump from February 2018.

The Quebec Professional Association of Real Estate Brokers says the average residential price increased 4.9 per cent to $388,398 in metropolitan Montreal and by 6.1 per cent to $505,780 on the island of Montreal.

The median price of single-family homes in the metropolitan area increased three per cent year over year to $320,000. The median condo price sat unchanged at $250,000, while the median price of plexes jumped eight per cent to $522,000 last month from $484,000 a year earlier.