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

Sales activity was especially strong in the Vaudreuil-Soulanges area, up 48 per cent, and Saint-Jean-sur-Richelieu, up 41 per cent.
Sales activity was especially strong in the Vaudreuil-Soulanges area, up 48 per cent, and Saint-Jean-sur-Richelieu, up 41 per cent. THE CANADIAN PRESS/Paul Chiasson

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.

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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