Home sales in Montreal fell 39% in December from a year ago, according to the latest data from the Quebec Professional Association of Real Estate Brokers.
Montreal home sales were at their lowest level to end 2022 since December 2014, said the real estate board, which blamed the decline on higher mortgage rates.
Total home sales in Montreal during December amounted to 2,232. For all of 2022, home sales in the city were down 20% compared to 2021.
New home sales listings in December totaled 2,359 properties, the lowest level since 2002.
The median price for a single-family home in Montreal fell 3% from a year earlier to $510,000 during December.
Prices for condominiums in Montreal declined 1% to a median of $375,000.
