Montreal Home Sales Drop 7% in April as Prices Hit First-Time Buyers

Montreal-area home sales dropped 7% in April compared to last year, as economic uncertainty and high prices continue to weigh on demand, according to the Quebec Professional Association of Real Estate Brokers.

A total of 4,744 residential properties changed hands in April, down from 5,102 a year earlier. The board’s senior economist Camille Laberge says buyers are showing caution, with affordability challenges mounting - especially for first-time buyers.

Home prices rose across all categories. The median price of a single-family home climbed 3.2% to $645,000. Condo prices inched up 0.2% to $425,000. Plex properties saw the biggest jump, up 3.7% to a median of $865,000.

Meanwhile, new listings rose 9.1% to 8,241, and total inventory increased nearly 15% to 20,959 units, giving buyers more options but not enough to offset price pressure.