The Quebec Professional Association of Real Estate Brokers says November home sales and new listings fell in Montreal as prices soared by more than 20 per cent compared with a year ago.
The association says sales for the month totalled 4,402, a 17 per cent drop from 5,296 in November 2020.
Read more: International students and offshore banking flagged in Canadian real estate money laundering
New listings amounted to 5,056, down 14 per cent from 5,848 last November.
Get breaking National news
The median price of a single-family home soared by 21 per cent compared with a year ago to reach $525,000, while condos went up by 18 per cent to hit $374,000 and plexes with two to five units had a 15 per cent spike pushing them to $725,000.
- Montreal public health warns of overdose spike as naloxone use reaches last year’s total
- Saskatchewan boosts disaster aid in response to storm-packed spring and summer
- World champion curler, long-time broadcaster Don Duguid dies at 90
- Corus to centralize Calgary, Edmonton news production, some jobs cut
-
![]()
Cyclospora outbreak source not confirmed, health officials investigating link to lettuce, greens -
![]()
CN rail train drives through inferno as wildfires ravage northwestern Ontario -
![]()
WestJet flight attendants vote in favour of strike -
![]()
Immigration lawyer reacts as some “Lost Canadians” told to return citizenship certificate
Apart from condominiums, which saw a slight decline, the association says the median prices were also up from October 2021.
Charles Brant, the association’s director of market analysis, says he noticed a lack of supply and persistently high demand last month that placed pressure on prices and encouraged potential sellers to get into the market.
“The announcement of an earlier-than-expected rise in interest rates no doubt motivated potential sellers to advance their project in order to benefit from the sustained activity and the opportunity to sell at the best price,” he said in a statement.
Comments
Want to discuss? Please read our Commenting Policy first.