Last month was the most active April in the Montreal CMA since 2012 with a 1 per cent increase in sales year-over-year to 4,798.
The Greater Montreal Real Estate Board says that this rise was driven by condos, the only property type to gain in the month with a 9 per cent rise while single-family home sales declined 3 per cent and plexes dropped 1 per cent.
“Price increases were more sustained for single-family homes, as market conditions for this property category once again give sellers the upper hand,” said Mathieu Cousineau, President of the GMREB Board of Directors. “The number of active listings has dropped significantly over the past year for single-family homes, which helped create a certain rarity,” added Mr. Cousineau.
The median price of a single-family home in the market was up 7 per cent to $309,000 while condos were at $240,000, up 2 per cent, and plexes gained 4 per cent to a median $488,000.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
More market watch: