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Money Montreal real estate hit another record in May

19:31  06 june  2018
19:31  06 june  2018 Source:   msn.com

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Montreal area home sales outpaced Canada’s other large markets by hitting another record high for May even as the pace of growth cooled from a year ago, the Greater Montreal Real Estate Board said Wednesday.

MONTREAL — Montreal area home sales outpaced Canada’s other large markets by hitting another record high for May even as the pace of growth cooled from a year ago, the Greater Montreal Real Estate Board said Wednesday. Sales grew one per cent to 5,303 homes sold in May

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MONTREAL - The Greater Montreal Real Estate Board says area home sales hit another record high for May, even though the pace of growth cooled from a year ago.

The board says there were 5,303 home sales in May, up one per cent from 5,243 a year ago, based on the real estate brokers' Centris provincial database.

Last year's numbers were revised following the addition of the Saint-Jean-sur-Richelieu area in the monthly surveys. Sales rose 16 per cent in May 2017 when including the region southeast of Montreal.

Condominium sales climbed 14 per cent compared with a year ago. Meanwhile, sales of single-family homes were down six per cent while plexes, which include two to five units, rose four per cent.

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The Greater Montreal Real Estate Board says area home sales hit another record high for May , even though the pace of growth cooled from a year ago.

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The average price of all properties in Greater Montreal increased five per cent to $373,899. They were up six per cent to $481,544 on the island of Montreal.

The median price of single-family homes across Greater Montreal was $325,000 last month, up three per cent year-over-year, while plexes reached $520,000, a nine per cent increase.

As for condominiums, the median price was up six per cent compared with a year ago, with half of all units selling for more than $257,000.

The increase in sales came as the number of active listings fell 16 per cent to 24,501, from 29,289 a year ago. New listings fell one per cent to 6,387, compared with 6,431 in May 2017.

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