Montreal home sales may overtake Vancouver
March 15, 2019
Montreal is bucking the national trend of slowing sales—posting an 8 per cent increase in sales so far this year—with February marking the fourth year of rising transactions.
Montreal’s housing sales activity reached 4,370 in February, the Quebec Professional Association of Real Estate Brokers announced in its latest data release.
Sales of single-family detached houses increased by 4 per cent annually to 2,436 transactions. Condo apartment sales advanced 14 per cent to 1,588 units.
The median price of Montreal detached houses was up 3 per cent to $320,000. Condo prices were virtually unchanged from a year earlier, at around $250,000.
The Canadian Real Estate Association has stated Montreal is now in a strong position to overtake the Vancouver housing market’s growth in the near future. Vancouver housing sales have plunged more than 40 per cent in the past year.