Montreal home sales, prices rise in May despite steady rates and economic uncertainty

Home sales in the Montreal-area rose again in May compared with the same month a year ago, as the city’s real estate board says both activity and price growth show no signs of tapering off.

Les ventes de propriétés dans la région de Montréal

The Quebec Professional Association of Real Estate Brokers says 4,992 homes in the region changed hands last month, up 10.2% from 4,532 sales in May 2024.

Charles Brant, the board’s market analysis director, says it marks the third straight month of similar year-over-year sales growth despite mortgage rates remaining in a holding pattern and “ongoing economic uncertainty.”

Brant says there are also “no signs of a lull in price growth” as around one in seven homes sold above the asking price last month.

The median price for all housing types in the Montreal area was up year-over-year, led by an 8.7% increase in price of a single-family home to $625,000.

The median price of a plex rose 5.1% to $825,000 and the median price of a condominium increased 4.3% to $427,500.