Montreal Home Sales Continue Decrease

There were a total of 3,372 residential sales transactions in the Montreal, QC, census metropolitan area (CMA) in August, a 30 per cent decrease compared to August 2020, says the Quebec Professional Association of Real Estate Brokers (QPAREB). This reinforces the downward trend in sales that has been evident since early spring. All three main property categories registered a drop in sales compared to August of last year. Sales of single-family homes fell by 37 per cent, while sales of condominiums decreased by 28 per cent. Plexes were less affected by the August slowdown as transactions fell by only four per cent. The supply of residential properties on the market continued to shrink in August, with 10,238 active listings. This represents 20 per cent fewer properties than in August of last year.