Montreal-Area Home Sales Surge by 25% in April, Returning to Historical Averages

Montreal’s real estate market experienced a notable rebound in April, with home sales soaring by 25.5% compared to the same period last year, according to the Quebec Professional Association of Real Estate Brokers (QPAREB).

Total home sales in the region reached 4,688 for the month, a significant increase from 3,734 recorded in April 2023. The median price for all housing types also saw year-over-year growth, with single-family homes leading the charge with a 6.5% rise to $575,000.

Plexes followed suit, with the median price increasing by four percent to $754,000, while condominiums experienced a 2.7% uptick to $400,598.Charles Brant, the market analysis director at QPAREB, attributed this surge to a “very reactive recovery” driven by expectations of a looming downward cycle in interest rates and the anticipated price growth in the market. April also saw a notable increase in active listings, rising by 19% compared to the previous year, totaling 18,932. Additionally, new listings saw a significant uptick, jumping by 33.1% to 7,099.As Montreal’s real estate market continues to demonstrate resilience and strong performance, these latest figures indicate a return to historical averages and underscore the ongoing demand for properties in the region.