Montreal area home sales up 13 per cent in November, prices rise

MONTREAL – The Quebec Professional Association of Real Estate Brokers says Montreal area home sales rose 13 per cent in November compared with a year earlier.

The association says there were 4,084 sales in the Montreal metropolitan area.

The increased sales came despite a 50th consecutive month of falling supply, down 22 per cent in November from a year earlier to 16,310 active listings.

The combined pressures pushed the median price of a single-family up home up six per cent from a year ago to $350,000, while the median condo price was up nine per cent to $290,000.

Sales activity was especially strong in the Vaudreuil-Soulanges area, up 48 per cent, and Saint-Jean-sur-Richelieu, up 41 per cent.

The association says homes were sold in the fewest number of days since 2004. Single family homes were sold on average in 58 days, down 14 days from a year earlier, and condos were sold in 70 days, down 25 days.

This report by The Canadian Press was first published Dec. 6, 2019.