Montreal home sales on 41-month roll
August 20, 2018
Montreal housing sales reached an eight-year high for the month of July with a total of 3,201 transactions, according to the Greater Montreal Real Estate Board.
The July numbers represented the 41st straight month of increases in Montreal’s residential sales volume, but the pace has slowed. Year-over-year, sales grew by 1 per cent, similar to the trend over the previous three months.
Condominiums remain the strongest sector for sales, with a 6 per cent annual increase, to 1,139 sales transactions. July 2018 was the 10th consecutive month where the condo segment showed the largest gains in sales numbers.
Sales of single-family detached housing fell by 2 per cent from a year earlier to 1,752.
The inventory is declining, however, with 21,230 homes listed for sale through the real estate board, down 17 per cent from July of 2017.
Median prices saw notable increases across all property types in the month. Single-family home prices advanced 6 per cent year-over-year to $336,250, while condos prices 5 per cent to $265,000, the board reports.