Montreal home sales rise 8 per cent in February — four years of growth

Home sales ramped up in Montreal last month, marking four years of continuous growth.

READ MORE: Montreal home sales up three per cent in December: real estate board

Quebec’s real estate broker association says home sales in metropolitan Montreal rose eight per cent to 4,370 in February compared with the same month in 2018.

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Condominium sales shot up 14 per cent to 1,588 while single-family home sales increased four per cent to 2,436.

READ MORE: Montreal luxury real estate sales spike as Toronto, Vancouver’s slump

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Sales of plexes, which include two to five units, hit 339, a seven per cent bump from February 2018.

The Quebec Professional Association of Real Estate Brokers says the average residential price increased 4.9 per cent to $388,398 in metropolitan Montreal and by 6.1 per cent to $505,780 on the island of Montreal.

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The median price of single-family homes in the metropolitan area increased three per cent year over year to $320,000.

READ MORE: Montreal’s real estate market sizzled in 2017 with sales hitting 10-year high

The median condo price sat unchanged at $250,000, while the median price of plexes jumped eight per cent to $522,000 last month from $484,000 a year earlier.