Greater Montreal Area posts record home sales in May, up 15 per cent from 2016

Greater Montreal Area posts record home sales in May, up 15 per cent from 2016

MONTREAL — The Greater Montreal Real Estate Board says 5,057 properties were sold in May, a record for that month and up 15 per cent from a year ago, driven by a hot condo market.

Paul Cardinal of the Quebec Federation of Real Estate Boards attributes increased sales to high employment growth, more non-permanent residents and improving consumer confidence.

The median price of a single-family home rose six per cent to $319,000, while condo prices were up one per cent to $243,000.

That makes the city, Canada’s second-largest, a relative bargain when compared to its sizzling peers Toronto and Vancouver.

Prices for properties in those two cities can easily be three times as costly as those in Montreal.

The Canadian Press
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