Photo: Artur Staszewski/Flickr
Though Montreal home sales took a hit last month after a particularly strong September, prices climbed up in Quebec’s capital.
The Greater Montreal Real Estate Board (GMREB) counted 2,684 residential sales in October 2013, down 3 per cent from the same time last year. The only two areas of the city that saw sales growth were the Island of Montreal at 1 per cent and Vaudreuil-Soulanges at 7 per cent. In terms of property types, sales of single family homes dropped 3 per cent, and sales of condos and plexes both dropped by 2 per cent.
However, each property type measured year-over-year price growth.
“For condominiums, this was the largest increase in median price since the start of 2013,” said Diane Menard, Vice-President of the GMREB Board of Directors, in the news release.
Condo prices rose 4 per cent to a new median price of $235,000. They were followed by plexes made up of 2 to 5 units, which rose by 5 per cent to $435,000. Single family homes followed closely with a 3 per cent increase to $282,000.
The tally of active listings in Montreal for October was 30,676, up 11 per cent from October 2012. However, despite this being the 38th consecutive month of listing increases, it was the smallest boost since February 2013.
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