As prices rise, Montreal area home sales up 13 per cent in November

The Quebec Professional Association of Real Estate Brokers says Montreal area home sales rose 13 per cent in November compared with a year earlier.

The association says there were 4,084 sales in the Montreal metropolitan area.

The increased sales came despite a 50th consecutive month of falling supply, down 22 per cent in November from a year earlier to 16,310 active listings.

READ MORE: New Montreal program helps Quebec newcomers with the process of finding affordable housing

The combined pressures pushed the median price of a single-family up home up six per cent from a year ago to $350,000, while the median condo price was up nine per cent to $290,000.

Sales activity was especially strong in the Vaudreuil-Soulanges area, up 48 per cent, and Saint-Jean-sur-Richelieu, up 41 per cent.

The association says homes were sold in the fewest number of days since 2004. Single family homes were sold on average in 58 days, down 14 days from a year earlier, and condos were sold in 70 days, down 25 days.

READ MORE: As Montreal booms, city’s reputation for affordable apartments takes a hit