Montreal home sales, prices rise in May despite steady rates and economic uncertainty
MONTREAL - 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.
The Quebec Professional Association of Real Estate Brokers says 4,992 homes in the region changed hands last month, up 10.2 per cent 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 per cent increase in price of a single-family home to $625,000. The median price of a plex rose 5.1 per cent to $825,000 and the median price of a condominium increased 4.3 per cent to $427,500.
There were 7,596 new listings in the Montreal area last month, up 11.2 per cent from a year earlier, as active listings rose 2.4 per cent to 18,920.
This report by The Canadian Press was first published June 9, 2025.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hamilton Spectator
33 minutes ago
- Hamilton Spectator
Minister flags concern over BC Ferries' construction deal with Chinese shipyard
British Columbia's transport minister says he has raised concerns with BC Ferries about its decision to have a Chinese shipyard build four new ferries for its passenger fleet, amid an ongoing trade conflict between Canada and China. Mike Farnworth says he's worried about procuring services from 'any country that is actively harming Canada's economy' with tariffs and protectionism. Farnworth's remarks come hours after the announcement by BC Ferries CEO Nicolas Jimenez that China Merchants Industry Weihai Shipyards had won the contract. Jimenez said he wasn't worried about geopolitical tensions between Canada and China, adding his primary focus was getting the province a good deal. Farnworth says in a statement that BC Ferries is an independent company, but he's disappointed 'more involvement from Canadian shipyards' wasn't part of the contract. The first vessel is expected to come into service in 2029 with the others following in six-month intervals. This report by The Canadian Press was first published June 10, 2025.
Yahoo
2 hours ago
- Yahoo
Competition Bureau seeking public input on algorithmic pricing
OTTAWA — The Competition Bureau says it's looking for public input as it delves deeper into the rising trend of companies using algorithms to set prices. In a paper released Tuesday, the bureau says more than 60 companies in Canada already use automated systems to help set prices, often in real time, for everything from concert tickets to ridesharing to hotel rooms. The paper says that algorithmic pricing could improve competition by helping businesses innovate and be more efficient, but also risks making it easier for companies to co-ordinate their prices and could make it harder for new companies to enter the market. It says algorithmic pricing could become an issue under the Competition Act if multiple companies rely on the same model to set pricing, creating a form of collusion on pricing even without explicit collaboration. The bureau says the systems could also be used for predatory pricing if a company uses them to specifically target specific customers of rivals, rather than lowering prices overall. The Competition Bureau confirmed in February that it was also investigating the possible use of AI-driven algorithmic pricing in Canadian real estate rental markets. This report by The Canadian Press was first published June 10, 2025. The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 hours ago
- Yahoo
Ambrose says western separatism can fizzle out if Ottawa listens to grievances
CALGARY — Former federal cabinet minister Rona Ambrose says the secessionist sentiment in Alberta is an unwelcome source of uncertainty for investors — but it can dissipate quickly if Ottawa handles it right. Ambrose, now deputy chair at TD Securities, made her remarks during a panel discussion at the Global Energy Show. She says there's a feeling of resentment in Alberta and neighbouring Saskatchewan that Prime Minister Mark Carney can't take lightly. But she says outreach and trust-building is paramount and the federal-provincial relationship seems to be improving. Cenovus Energy chief executive Jon McKenzie says the separatist movement in Alberta is nothing new. He says it's not rooted in anything beyond Western Canadians feeling like their grievances aren't being heard in Ottawa. This report by The Canadian Press was first published June 10, 2025. Companies in this story: (TSX:CVE) (TSX:TD) Lauren Krugel, The Canadian Press
