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Montreal Home Sales Rise For First Time In Four Months
(MENAFN- Baystreet)
Montreal-area home sales rose 2.2% year-over-year in March, ending a streak of four consecutive months of declines.
The Quebec Professional Association of Real Estate Brokers said 5,045 residential properties were sold in Montreal during March, up from 4,936 a year earlier.
Despite the rise, the real estate board said that the“modest increase” was still behind the average sales volume for March over the last decade.
Still, home prices were up across all categories in March, led by a 6.9% increase in the median price of a single-family home to $652,250.
New listings in March totalled 8,574, up 11.2% year-over-year, while total inventory rose 12.7% to 19,952 units for sale.
The real estate board added that the sales increase in March leading into the spring season is encouraging for the Montreal real estate market.
The housing sector across Canada has struggled in recent months due to a combination of economic uncertainty and affordability issues.
Montreal-area home sales rose 2.2% year-over-year in March, ending a streak of four consecutive months of declines.
The Quebec Professional Association of Real Estate Brokers said 5,045 residential properties were sold in Montreal during March, up from 4,936 a year earlier.
Despite the rise, the real estate board said that the“modest increase” was still behind the average sales volume for March over the last decade.
Still, home prices were up across all categories in March, led by a 6.9% increase in the median price of a single-family home to $652,250.
New listings in March totalled 8,574, up 11.2% year-over-year, while total inventory rose 12.7% to 19,952 units for sale.
The real estate board added that the sales increase in March leading into the spring season is encouraging for the Montreal real estate market.
The housing sector across Canada has struggled in recent months due to a combination of economic uncertainty and affordability issues.
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