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Quebec  + Multi-residential Housing  | 
Greater Montreal Area condominium sales rose 28% year-over-year in February, says the Quebec Professional Association of Real Estate Brokers.

Montreal Condo Sales Up 28%

Greater Montreal Area condominium sales rose 28% year-over-year in February, says a new report from the Quebec Professional Association of Real Estate Brokers.

Total condo sales increased to 1,517. Meanwhile, small income properties had a larger gain with 56% sales occurring.

The median condo price stood at $395,000, up 4% from a year earlier. By comparison, the median price of a single-family home climbed 7% from February 2023 to $550,000.

Overall GMA residential sales jumped 30% year-over-year. The monthly transaction total rose to 3,843 as 888 more deals closed than in February 2023.

Charles Brant, QPAREB’s market analysis director, attributed the strong results to sustained migratory flow since the COVID-19 pandemic and buyers’ anticipation of Bank of Canada interest-rate cuts.

Pictured: Arbora condominium building in Montreal’s Griffintown district

Image: Sotramont

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Inside The Story

QPAREBCharles Brant

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

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