The Quebec Professional Association of Real Estate Brokers says Montreal and Quebec City home prices soared and sales fell in June, as the province began to rebound from the Covid-19 pandemic.
The real estate association says the median price of single-family homes and condos in Montreal hit $508,000 and $365,000 respectively, up from $496,000 and $365,000 the month before.
Median prices for single-family homes and condos in Quebec City reached $310,000 and $207,500 respectively, up from $310,250 and $210,000 in May 2020.
Montreal sales for the month amounted to 4,619, down 7% from 4,950 in June 2020 and 14% from 5,398 in May 2021.
Quebec City sales totalled 738, down by 20% from 919 last June and almost 18% from 897 in May.
The association says residential sales in Montreal and Quebec City fell significantly in June because of a lack of single-family homes available for sale and rising prices, which kept the markets heated.