Montreal home prices rose in December even as sales fell 4 per cent

The Quebec Professional Association of Real Estate Brokers says Montreal-area home sales in December fell four per cent compared with the same month a year earlier.

The association says home sales in the region totalled 2,096 for the month, down from 2,191 in December 2022. Throughout the year, the Montreal area saw an overall decline in sales activity of 14 per cent.

The median price of a single-family home in December was $535,000, up five per cent from $510,000 a year earlier, while the median price for a condominium was $391,000, up four per cent from $375,000. The median price for a plex was $699,000, up two per cent from $685,000 in December 2022.

Single-family home sales totalled 1,052, down five per cent from 1,110 a year earlier, while condominium sales amounted to 777, a 10 per cent drop from 863 in the same month of 2022.

Plex sales rose to 264 for December, compared with 215 a year earlier.

Active listings for December jumped 19 per cent compared with a year earlier to 15,907, while new listings rose 12 per cent to 2,542.

- This report by The Canadian Press was first published on Jan. 11, 2024.