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Sep 7, 2017
Montreal's housing market continues to heat up, with the city's real estate board reporting a record month of sales.
Home sales across the Montreal metropolitan area rose eight per cent to 2,899 last month. The Greater Montreal Real Estate Board said that's the highest level of activity on record for the month of August.
“The Montreal real estate market has been building an impressive track record,” said GMREB President Mathieu Cousineau in a press release Thursday. "The last monthly drop in sales dates back to February 2015."
That continued momentum is shifting power in buyers' favour as inventory dries up. Indeed, the real estate board said active listings in Montreal fell 15 per cent year-over-year in August.
The median price of a single-family home in Montreal rose six per cent last month to $325,000.
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