Montreal home sales jump 36 per cent in January as rate cuts entice buyers

A real estate sign is posted outside a home in Pointe-Claire, Que. on May 7, 2024. THE CANADIAN PRESS/Christinne Muschi

The Quebec Professional Association of Real Estate Brokers says Montreal-area home sales rose 36 per cent year-over-year in January.

The association says home sales in the region totalled 2,812 for the month, up from 2,063 in January 2024, and 10 per cent higher than the historical average for January.

The association’s market analysis director Charles Brant says buyers are continuing to return to the market in large numbers, motivated by significant interest rate cuts in recent months as well as new homeownership measures.

The median price of a single-family home rose 11 per cent to $590,700 and the median price of a condominium increased eight per cent to $420,000.

There were 6,220 new listings in the Montreal area last month, up 18 per cent from a year earlier.

Active listings were down four per cent compared with a year earlier to 15,723.

This report by The Canadian Press was first published Feb. 7, 2025.