Bucking the trend seen elsewhere in Canada, home sales in Montreal rose 1% in June compared with the same period last year, marking a record 40 consecutive months of rising home sales in the city.
The Greater Montreal Real Estate Board says home sales totalled 4,081 units for the month of June, up from 4,055 in June 2017. The increase came even though sales of single family homes slipped about 2% to 2,290 units compared with 2,342 a year ago. The drop in sales of single-family homes was offset by condominium sales in Montreal, which increased 7% to 1,383 units compared with 1,292 units in June 2017.
Sales of plexes, which include two to five units, fell 3% to 404 compared with 415 in the same month last year. The increase in sales came as the number of active home listings fell 17% compared with a year ago to 22,333 units compared with 26,866 in June 2017.
Even modest growth of home sales in Montreal stands in sharp contrast to Canada’s other large cities such as Toronto and Vancouver, where home sales have fallen sharply this year.
The median price of a single-family home in Montreal climbed 1% to $325,089 compared with $322,750 a year ago, while the median condominium price was $256,000, up from $255,000. The median plex price rose 7% to $507,000 compared with $475,000.
