A total of 4,992 single-family home sales were recorded in the Montreal Census Metropolitan Area during May, a 10% year-over-year increase and a 13% spike from two years before.
Last month’s total of 22,462 active listings for single-family homes was unchanged from one year earlier, while the median price of $500,000 marked a 10% increase from the $455,000 median price from May 2024. The average days on the market for single-family homes in May was 42, compared to 55 one year earlier.
“Despite ongoing economic uncertainty, the Montreal real estate market was very active in May and showed no signs of slowing down,” said Charles Brant, QPAREB market analysis director. “Last month’s increase in transactions follows similar gains of 11% in March and 10% in April – this, despite mortgage rates that have yet to come down. There are no signs of a lull in price growth. The 9% year-over-year increase in the median price of a single-family home across the metropolitan area is fully in line with the gains posted in March (8%) and April (9%). Moreover, about one in seven homes sold above the asking price last month.”
