Home sales in Montreal fell to an all-time low for the month of February as higher interest rates continue to slow the real estate market across Canada.
The Quebec Professional Association of Real Estate Brokers said that home sales in Montreal declined 32% from a year earlier, dropping to an all-time low for that month of the year.
Sales in February totalled 2,996 compared with 4,375 a year ago, according to the realtor association.
Despite the poor sales figures in February, the association noted that most Montreal properties are selling for their listed price or slightly above asking.
The median price for a single-family home in Montreal during February was $515,000, down 6% from the same month of 2022.
Condos sold at a median price of $380,000, a decrease of 4% from a year ago. The number of active listings in Montreal rose 64% in February, reaching 15,893 homes.
