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Montreal Home Sales Fell 8% In May

Home sales in Montreal, Quebec declined 8% in May from a year earlier.

According to the Quebec Professional Association of Real Estate Brokers, May’s result was an improvement from April this year, when home sales declined 26% from a year earlier.

The association said that there were 4,428 homes sold across Montreal during in the month of May, an 8% decrease from the same month in 2022.

The improved sales activity came despite new listings in the city falling 11% to 6,196.

The median price of a single-family home in Montreal declined 4% to $550,000 compared with a year earlier, while condominium prices dipped 2% to $403,000.

The association said there are signs that buyers in Montreal are returning to the market heading into summer, encouraged by the stabilization of interest rates and home prices.