Home sales in Montreal fell 20% in August from a year earlier while the number of active listings
during the month increased by 37%, according to the Quebec Professional Association of Real
Estate Brokers.
The association said Montreal’s home sales for the month of August totalled 2,681, while active
listings totaled 13,715.
August has traditionally been one of the busiest months of the year for home sales in Montreal,
and the reversal is being blamed on rising mortgage rates that are slowing down the rate of
transactions as inventories grow.
The median price of a single-family home in Montreal rose by 5% year-over-year in August to
$525,000, while condo prices gained 3% to $385,000 in the same time frame.
Separately, a total of 1,870 homes were sold in the Greater Vancouver region in August, a
40.7% decline compared to a year earlier and a 0.9% decrease from July of this year.
Compared to the 10-year average for August, home sales in Vancouver, British Columbia were
down 29.2%, according to the Real Estate Board of Greater Vancouver.
