Montreal home sales up 25 per cent in April as expected rate cuts prompt recovery: board
The Quebec Professional Association of Real Estate Brokers says Montreal-area home sales surged 25.5 per cent in April compared with the same month last year, with levels returning to historical averages.
The association says home sales in the region totalled 4,688 for the month, up from 3,734 in April 2023.
The median price for all housing types was up year-over-year, led by a 6.5 per cent rise for the price of a single-family home at $575,000 last month.
Meanwhile, the median price for a plex rose four per cent to $754,000 and the median price for a condominium rose 2.7 per cent to $400,598.
QPAREB market analysis director Charles Brant says there was a "very reactive recovery" in April due to the expectation of an "imminent return to a downward cycle in interest rates" and price growth in the market that could follow.
Active listings for April jumped 19 per cent compared with a year earlier to 18,932, while new listings rose 33.1 per cent to 7,099.
- This report by The Canadian Press was first published May 6, 2024.
CTVNews.ca Top Stories
More Canadians only making minimum payment on credit cards: TransUnion
Some Canadians are seeing their credit card balances grow as the cost-of-living crisis and higher interest rates eat into household budgets, a new report shows.
Tornado touches down west of the Island of Montreal
Emergency services in the town of Rigaud, Que. are investigating after a tornado touched down shortly after 5:30 p.m. on Friday.
Teen was doing homework at family's Mississauga, Ont. restaurant when gunman opened fire: testimony
The 13-year-old sister of a young man killed in the attack on her family’s Mississauga restaurant in 2021 took the stand in a Brampton courthouse on Monday to describe the terrifying moments of coming under fire.
Tanks reach Rafah's centre as Israel presses assault despite global scrutiny
Israeli tanks reached the centre of Rafah for the first time on Tuesday, witnesses said, three weeks into a ground operation in the southern Gaza city that has sparked global condemnation.
What a CBSA strike could look like, according to an expert
Slowed or interrupted travel, the passing of goods and significantly restricted borders should be expected if Canadian border workers take upcoming strike action.
Arm of mummy came off after mishandling by museum staff: Mexican government
Mexico's federal archaeology agency on Monday accused the conservative-governed city of Guanajuato of mistreating one of the country’s famous mummified 19th century bodies.
Five of Ontario's top 10 worst roads are located in the Toronto area
A new pothole-riddled street in Hamilton has taken the top spot for the worst road in Ontario, according to a new list released by the Canadian Automotive Association (CAA) on Tuesday.
DEVELOPING In Trump's hush money trial, prosecutors and defence lawyers are poised to make final pitch to jury
Prosecutors and defence lawyers in Donald Trump's hush money trial are set to deliver closing arguments to the jury Tuesday, each side looking to score final points with the panel before it starts deliberating the fate of the first former American president to be charged with felony crimes.
Red Lobster in Ontario court to discuss U.S. bankruptcy case, Canadian assets: docs
A lawyer for Red Lobster Canada, Inc. says he will ask an Ontario court today to recognize and enforce the chain’s U.S. bankruptcy protection proceedings, a process which documents show could include selling Canadian assets.