Achi news desk-
Quebec’s professional association of real estate agents says home sales in the Montreal area jumped 25.5% in April compared to the same month last year, with levels returning to historical averages.
The association says that house sales in the area totaled 4,688 in the month, compared to 3,734 in April 2023.
The median price for all types of housing increased from year to year, led by a 6.5% increase in the price of a private house at $575,000 last month.
Meanwhile, the median price for a condominium rose four percent to $754,000 and the median price for a condominium rose 2.7 percent to $400,598.
QPAREB’s director of market analysis, Charles Burnett, says there was a “very reactive recovery” in April due to the expectation of an “imminent return to a rate-cutting cycle” and market price growth that may follow.
Active listings for April jumped 19% year-over-year to 18,932, while new listings rose 33.1% to 7,099.
– This report by The Canadian Press was first published on May 6, 2024.
