The Quebec Professional Association of Real Estate Brokers says Montreal’s February home sales hit a new low last month, dropping 32 per cent from the prior February.
Sales for the month totalled 2,996 compared with 4,375 a year ago.
Despite the all-time low sales in February and a share rise in the number of properties that have yet to find a buyer, the board says most Montreal properties are selling for their listed price or slightly above.
The median price for a single-family home was $515,000, down six per cent from a year ago.
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Condos sold at a median price of $380,000, a decrease of four per cent from last February.
Active listings were up 64 per cent, reaching 15,893 last month.