Greater Montreal home sales grow 16 per cent to set new record in July

MONTREAL – Summer vacations haven’t dampened demand in Greater Montreal’s real estate market which saw sales grow by 16 per cent to a new sales record in July.

The Quebec Professional Association of Real Estate Brokers says residential sales hit 3,698 for a 53rd consecutive monthly increase.

Sales of single-family homes and condominiums climbed 16 per cent to 2,012 and 1,313 respectively. Plexes with two to five dwellings increased 23 per cent to 368.

All six main areas of the Montreal Census Metropolitan Area saw significantly higher sales with Saint-Jean-sur-Richelieu growing by 75 per cent and Laval increasing 48 per cent.

The median price of single-family homes increased six per cent to $357,000 with prices on the island of Montreal up 11 per cent to $518,750. Condominiums were up five per cent to $278,600 and plexes gained 10 per cent to $583,000.

The number of active listings decreased 20 per cent to nearly 17,000 as the number of new listings were stable.