A realtor sign advertises the sale of a residential property on the west island of Montreal in this file photo from Nov. 4, 2017.Home sales in Montreal dropped in the second half of March, as the Quebec government suspended work in non-essential sectors, including real estate, to stop the spread of COVID-19.
The activity mirrors the two most expensive markets in the country, Toronto and Vancouver, where sales fell notably in the last two weeks of March.As sales dropped in Montreal, so did home prices. The average selling price across all types of homes was $402,414 in the second half of the month, compared with $412,126 in the first half.
Over all, 5,907 homes sold in March in Montreal despite the industry showdown. That was a 4 per cent increase over March, 2019, and the 61st straight month of sales increases.
globebusiness Shocked ! Absolutely Shocked ! .. Next .. most cars use gasoline as fuel !! Details at 6 !
globebusiness Good, rents and properties have literally doubled in 2 years, while wages and native population remains stagnant. This is also the perfect time to start banning foreign purchases of residential, and enacting laws restricting AirBnB rentals to a citizen's primary residence only
globebusiness File under “Things we knew without journalism”
globebusiness KarandeepMakkar
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