Montreal home sales up 25% in April as expected rate cuts prompt recovery: board

The association says home sales in the region totalled 4,688 for the month, up from 3,734 in April 2023.

The median price for all housing types was up year-over-year, led by a 6.5 per cent rise for the price of a single-family home at $575,000 last month.

Meanwhile, the median price for a plex rose four per cent to $754,000 and the median price for a condominium rose 2.7 per cent to $400,598.

QPAREB market analysis director Charles Brant says there was a "very reactive recovery" in April due to the expectation of an "imminent return to a downward cycle in interest rates" and price growth in the market that could follow.

Active listings for April jumped 19 per cent compared with a year earlier to 18,932, while new listings rose 33.1 per cent to 7,099.

This report by The Canadian Press was first published May 6, 2024.