Montreal, Quebec City home prices soared in June while sales fell: QPAREB

A sign meaning sold is shown on the west island of Montreal on November 4, 2017. Graham Hughes/The Canadian Press

The Quebec Professional Association of Real Estate Brokers says Montreal and Quebec City home prices soared and sales fell in June, as the province began to rebound from the COVID-19 pandemic.

The real estate association says the median price of single-family homes and condos in Montreal hit $508,000 and $365,000 respectively, up from $496,000 and $365,000 the month before.

Median prices for single-family homes and condos in Quebec City reached $310,000 and $207,500 respectively, up from $310,250 and $210,000 in May 2020.

READ MORE: Montreal home sales fell 14% between April and May: Quebec real estate board

Montreal sales for the month amounted to 4,619, down seven per cent from 4,950 in June 2020 and 14 per cent from 5,398 in May 2021.

Quebec City sales totalled 738, down by 20 per cent from 919 last June and almost 18 per cent from 897 in May.

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The association says residential sales in Montreal and Quebec City fell significantly in June because of a lack of single-family homes available for sale and rising prices, which kept the markets heated.

Click to play video: 'Housing advocates sounding alarm in Quebec'
Housing advocates sounding alarm in Quebec

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