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Montreal’s Sept. home sales drop to lowest point in almost 10 years: QPAREB

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MONTREAL - The Quebec Professional Association of Real Estate Brokers says Montreal's September home sales dropped to their lowest level in almost 10 years as the market continued to cool.

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MONTREAL – The Quebec Professional Association of Real Estate Brokers says Montreal’s September home sales dropped to their lowest level in almost 10 years as the market continued to cool.

The region recorded 2,537 sales last month, a 30 per cent decrease from last September and the lowest number of September sales since 2013.

The association says those numbers indicate the region did not experience the usual back-to-school rebound that brings increased sales to the market.

The Montreal skyline as seen from Mount Royal on Friday, Nov. 10, 2017. THE CANADIAN PRESS/Ryan Remiorz

Condos and plexes suffered the largest year-over-year sales decreases with drops of 39 per cent and 38 per cent respectively, while single-family homes experienced a 21-per-cent fall.

Meanwhile, median prices continued to decline month over month, but at a much more moderate pace.

On a year-over-year basis, average prices for single-family homes rose six per cent to $535,000, while condos rose four per cent to $380,000 and plexes dropped one per cent to $685,000.

This report by The Canadian Press was first published Oct. 5, 2022.

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