After four months of decline, residential property sales in the Greater Montreal area rose by 2.2% in March compared to the same month last year, according to the Professional Association of Real Estate Brokers of Quebec (APCIQ).
A total of 5,045 homes were sold through real estate brokers in March, compared with 4,936 homes in March 2022. Despite this slight improvement, the association noted that market performance remains below the average sales levels of the past decade.
Home prices in Greater Montreal rose annually, with the median price for single-family homes increasing 6.9% to $652,250. For homes with 2 to 5 units, prices increased by 5.7% to $880,000, while condominium units saw their median price rise by 1.2% to $425,000. In March, new home listings rose by 11.2% to reach 8,574 properties, while total inventory increased by 12.7% to 19,952 properties.
