Home sales in Montreal during October declined 2% from a year earlier, according to the latest data from the Quebec Professional Association of Real Estate Brokers.
Home sales in Montreal during October were at their second-lowest level on record, dating back to 2000, according to the real estate association.
In all, Montreal home sales totalled 2,675 in October, down 2% from 2,740 a year earlier.
Single-family home sales totalled 1,347 in October, down 6% from 1,438 in the same period of 2022, while condominium sales came in at 1,018 compared with 1,021 a year ago.
Active listings across Montreal increased to 17,518 in October, a gain of 12% from 15,708 a year earlier, while new listings rose 10% to 5,816 compared with 5,306 a year ago.
The median price of a single-family home in Montreal during October was $545,000, up 7% from $510,000 a year ago.
High interest rates charged on home mortgages, which currently average more than 7%, have been cooling the real estate market across Canada.