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7 Jun

Home sales increase for 51st consecutive month in Montreal area

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Posted by: Frederic Pichette

The Canadian Press
Published Thursday, June 6, 2019 10:27AM EDT 

Sales of residential properties increased by 6 percent last month in the Montreal area compared to those compiled in May 2018.

The Quebec Association of Real Estate Brokers said this means monthly sales in the metropolitan area have increased for 51 months in a row. In total, 5,067 sales were reported in May 2019.

The year-to-year increase is largely because of strong sales in the suburbs, which increased by 15 percent in Laval and nearby municipalities. They fell one percent on the island of Montreal.

The Quebec Association of Real Estate Brokers adds that the median price of a single-family home has continued to increase and is now $340,000 in the Montreal area.

The median price in the condominium sector rose 2 percent to $ 261,000, while the price of multiplexes jumped 6 percent to $550,000.