Montreal real estate market sees 'dynamic start' to 2024 as February home sales rise
The Quebec Professional Association of Real Estate Brokers says Montreal-area home sales jumped 30 per cent in February compared with the same month a year earlier, but sales activity remained slightly below the historical average for this time of year.
The association says home sales in the region totalled 3,843 for the month, up from 2,955 in February 2023.
The median price for all housing types was up year-over-year, led by a seven per cent rise for the price of a single-family home at $550,000 last month. Meanwhile, the median price for a condominium and a plex both increased by four per cent, to $395,000 and $739,500, respectively.
Active listings for February jumped 18 per cent compared with a year earlier to 18,110, while new listings rose 32 per cent to 6,769.
QPAREB market analysis director Charles Brant says the increase in active listings on the market "has been quickly absorbed by the manifestation of a still very significant latent demand," with many buyers keen to capitalize on what they feel are favourable negotiation conditions.
Brant calls it a "dynamic start to the year" in terms of sales activity, which he attributes to factors such as sustained migratory flow since the end of the pandemic and optimism ahead of the Bank of Canada's anticipated rate cuts later this year.
- This report by The Canadian Press was first published on March 6, 2024.
CTVNews.ca Top Stories
'The world is too messy for bureaucratic hurdles': Canada still bars Afghanistan aid
Ottawa has plans to finally stop blocking Canadian development aid to Afghanistan this year.
Cisco reveals security breach, warns of state-sponsored spy campaign
State-sponsored actors targeted security devices used by governments around the world, according to technology firm Cisco Systems, which said the network devices are coveted intrusion points by spies.
More than 115 cases of eye damage reported in Ontario after solar eclipse
More than 115 people who viewed the solar eclipse in Ontario earlier this month experienced eye damage after the event, according to eye doctors in the province.
Toxic testing standoff: Family leaves house over air quality
A Sherwood Park family says their new house is uninhabitable. The McNaughton's say they were forced to leave the house after living there for only a week because contaminants inside made it difficult to breathe.
B.C. seeks ban on public drug use, dialing back decriminalization
The B.C. NDP has asked the federal government to recriminalize public drug use, marking a major shift in the province's approach to addressing the deadly overdose crisis.
Decoy bear used to catch man who illegally killed a grizzly, B.C. conservation officers say
A man has been handed a lengthy hunting ban and fined thousands of dollars for illegally killing a grizzly bear, B.C. conservation officers say.
OPP responds to apparent video of officer supporting anti-Trudeau government protestors
The Ontario Provincial Police (OPP) says it's investigating an interaction between a uniformed officer and anti-Trudeau government protestors after a video circulated on social media.
Loud boom in Hamilton caused by propane tank, police say
A loud explosion was heard across Hamilton on Friday after a propane tank was accidentally destroyed and detonated at a local scrap metal yard, police say.
An emergency slide falls off a Delta Air Lines plane, forcing pilots to return to JFK in New York
An emergency slide fell off a Delta Air Lines jetliner shortly after takeoff Friday from New York, and pilots who felt a vibration in the plane circled back to land safely at JFK Airport.