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Jun 8, 2023

Montreal home sales climb

The Montreal, QC, market showed clear signs of an upturn in activity in May. There was a slowdown in the accumulation of properties on the market, but the weakness of new listings continues to favour sellers, says the Quebec Professional Association of Real Estate Brokers (QPAREB). Residential sales in the Montreal census metropolitan area (CMA) reached 4,428 in May. This is a noticeably more limited decline than in recent months, with 393 fewer transactions (-8%) compared to the same period last year. Almost all the main metropolitan areas experienced an annual downward trend in sales with variations ranging between 2% and -12%. Laval (428 sales) posted the largest drops of 12%. Although much less marked than in recent months, the slowdown in activity continues in all property categories. Plexes (399 sales) experienced the largest annual decline, falling by 19%. The inventory of properties for sale is growing in all property categories, with single-family homes (6,899 listings) experiencing the most marked increase at 55%.

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