Montreal posts big home sales gains in November as median prices continue to rise

Montreal-area home sales rose 47 per cent in November compared with a year ago as the province’s real estate board says the region saw the second-most activity for the month since 2000.

The Quebec Professional Association of Real Estate Brokers says 3,897 homes changed hands in the region last month, up from 2,651 in November 2023. The gain marks a reversal from three consecutive years of sales declines in November and exceeds the historical average for the month by 19 per cent.

Meanwhile, the median price for all housing types was up year-over-year, led by an 11.2 per cent increase in the price of a single-family home to $600,000, followed by a 7.6 per cent rise for condominiums to $425,000 and a 5.3 per cent gain for plexes to $770,000.