MONTREAL - The Greater Montreal Real Estate Board says 5,057 properties were sold in May, a record for that month and up 15 per cent from a year ago, driven by a hot condo market.
Paul Cardinal of the Quebec Federation of Real Estate Boards attributes increased sales to high employment growth, more non-permanent residents and improving consumer confidence.
The median price of a single-family home rose six per cent to $319,000, while condo prices were up one per cent to $243,000.
That makes the city, Canada's second-largest, a relative bargain when compared to its sizzling peers Toronto and Vancouver.
Prices for properties in those two cities can easily be three times as costly as those in Montreal.
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