Home sales in Montreal rose 6.4% in June from a year earlier.
The Quebec Professional Association of Real Estate Brokers says Montreal-area home sales
totalled 3,830 in June, an increase over the 3,598 sales recorded in June 2023.
The median price for a single-family home in Montreal rose 5.8% to $582,500 during June.
New listings of homes for sale increased 7.6% to 5,446, while the number of active listings rose 24.4% from a year earlier to 18,620.
The rise in home sales seen in Montreal runs counter to Toronto and Vancouver, Canada’s other major markets, where the residential real estate market slumped in June.
Toronto home sales fell 16% year-over-year in June, while Vancouver sales declined 19%.
The downward trend in home sales resulted despite the fact that the Bank of Canada lowered interest rates by 25-basis points in June.
As with Montreal, both Toronto and Vancouver saw a big jump in the number of new listings on the market as sellers are eager to list their properties with interest rates coming down.