Skip to main content

Montreal home sales down 36% from January 2022: Quebec real estate association

Signs advertising houses for sale are shown in Montreal, Friday, March 4, 2022. THE CANADIAN PRESS/Graham Hughes Signs advertising houses for sale are shown in Montreal, Friday, March 4, 2022. THE CANADIAN PRESS/Graham Hughes
Share

The Quebec Professional Association of Real Estate Brokers says Montreal's January home sales fell to a level not seen since 2009 as the market slowdown continued.

The association says last month's sales totalled 1,791, down 36 per cent from 2,816 in January 2022.

Charles Brant, the association's market analysis director, says these numbers mean activity is approaching a historic low for the month of January and come as rising interest rates are weighing on homebuyers.

He says first-time homebuyers in particular are taking a cautious wait-and-see attitude despite recent drops in prices.

The median price of a single-family home edged down seven per cent to $500,000 year over year, while condos dipped three per cent to $370,000 and plexes dropped six per cent to $675,000.

As median prices fell so did new listings, which hit 4,598 compared with 4,808 a year ago.

- This report by The Canadian Press was first published on Feb. 7, 2023

CTVNews.ca Top Stories

opinion

opinion The big benefits of adopting a debt-free lifestyle

In his column for CTVNews.ca, financial advice expert Christopher Liew explains the benefits of adopting a debt-free lifestyle, as well as the change in financial mindset and sacrifices it takes.

They met in New York's Plaza Hotel in 1970. Here's what happened next

In 1969, Stefano Ripamonti was feeling good about life. He was in his late twenties, working a glamorous job at an Italian high fashion shoe firm. He’d recently married his childhood sweetheart and the newlyweds were settling into an apartment near the Vatican city walls in Rome, Italy.

Stay Connected