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Montreal home sales jump 26 per cent in December, median price up nine per cent

MONTREAL — The Quebec Professional Association of Real Estate Brokers says Montreal area home sales hit a record volume for December after jumping 26 per cent from a year earlier.

The association says there were 3,533 residential sales for the Montreal Census Metropolitan Area with gains in all six main areas.

Julie Saucier, CEO of the association, says the strong momentum at the end of 2019 suggests a dynamic start to the new year.

Sales jumped even as the number of active listings was down 24 per cent in December from a year earlier to 14,440, for the 51st consecutive month of declines.

Higher sales with less availability helped push up the median price of a single-family home by nine per cent to $355,000, a similar price rise to past three months. The median price of a condo rose five per cent from a year earlier to $285,000.

For the year, single-family home sales were up seven per cent and the median price up six per cent, while condo sales were up 14 per cent and prices up five per cent.

This report by The Canadian Press was first published Jan. 8, 2020.

 

The Canadian Press