A sold sign is shown on the west island of Montreal on Nov. 4, 2017.Graham Hughes/The Canadian Press
The Montreal real estate market continues to tighten as home sales rose amid a drop in listings last month.
The Quebec Professional Association of Real Estate Brokers says residential sales hit 4,339 in June, a year-over-year increase of 7 per cent.
The uptick came during the 45th consecutive monthly drop in the number of active listings, prompting a spurt in prices, particularly on the outskirts of the Island of Montreal.
The median price of a single-family home hit $352,250 last month, an 8-per-cent rise from June 2018. Condominiums cost 2-per-cent more at a median of $261,000, while the price of plexes with two to five units jumped 6 per cent to a median of $539,000.
The biggest overall sales increases occurred in Saint-Jean-sur-Richelieu and the North Shore, where they soared by 16 per cent and 12 per cent, respectively. Vaudreuil-Soulanges was the only area to see a drop in sales, on the heels of spring flooding in many neighbourhoods.