Montreal October home sales down from record level last year, but prices up – Montreal

The tempo of dwelling gross sales in Montreal in October fell 24 per cent in contrast with a file complete for the month final 12 months, whereas costs soared larger.

The Quebec Skilled Affiliation of Actual Property Brokers says gross sales in Montreal totalled 4,320 in October, down from 5,684 in October 2020.

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The drop got here because the median value of a single household dwelling rose to $515,000 from $430,250 a 12 months in the past, whereas the median value for a condominium rose to $379,900 from $322,500.

The median value for plexes rose to $707,250 from $629,000 a 12 months in the past.

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New listings for the month fell to five,515 in contrast with 7,110 in the identical month final 12 months, whereas energetic listings totalled 11,195 in contrast with 14,074 in October 2020.

The affiliation says the Montreal actual property market nonetheless reveals indicators of serious overheating and continues to expertise a big proportion of gross sales for above the asking value.

© 2021 The Canadian Press

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