Skip to content

Montreal home sales down eight per cent in May from last year

20230605150632-647e38ccb77b112e6f633435jpeg
A real estate sign is pictured in Vancouver, B.C., Tuesday, June, 12, 2018. The Quebec Professional Association of Real Estate Brokers says Montreal home sales were down in May from last year but showed signs of picking up from recent lows. THE CANADIAN PRESS Jonathan Hayward

MONTREAL — The Quebec Professional Association of Real Estate Brokers says Montreal home sales were down in May from last year but showed signs of picking up from recent lows.

The association says the 4,428 homes sold in the month amounted to an eight per cent drop compared with May 2022.

The activity was an improvement from April sales, which were down 26 per cent from a year earlier.

Improved sales came even as new listings were down 11 per cent to 6,196, though the total number of active listings were up 46 per cent to 16,089.

The median price of a single family home was down four per cent at $550,000 compared with last year, while condo prices slipped two per cent to $403,000.

The association's market analysis director Charles Brant says the month showed buyers were returning to the market, encouraged by the stabilization of interest rates and prices.

This report by The Canadian Press was first published June 5, 2023.

The Canadian Press


Looking for National Business News?

VillageReport.ca viewed on a mobile phone

Check out Village Report - the news that matters most to Canada, updated throughout the day.  Or, subscribe to Village Report's free daily newsletter: a compilation of the news you need to know, sent to your inbox at 6AM.

Subscribe