Montreal home sales down 28 per cent in September: Quebec real estate association – Montreal

The Quebec Skilled Affiliation of Actual Property Brokers says September house gross sales within the Montreal space fell by 28 per cent in contrast with a yr in the past because the market continued to edge towards pre-pandemic ranges.

The affiliation says 3,671 houses had been bought final month within the space, down from 5,120 in September 2020.

New listings for the month additionally dropped from 7,499 final September to five,818 final month.

Median costs continued to rise sharply in September, reaching $504,500 for single-family houses, $365,000 for condominiums and $690,000 for plexes.

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The affiliation says the Montreal actual property market remains to be displaying important overheating situations, however the proportion of gross sales concluded above the asking worth has weakened over the previous 5 months.

The affiliation says this development is being mirrored in a discount within the variety of consumers making a suggestion on the identical property.