According to Business News Network, Montreal’s soaring housing market is on track to overtaking Canada’s most expensive city for housing, Vancouver, as the nations second largest market.
According to the Canadian Real Estate Association, in January, the dollar value of transactions in Vancouver was 1.7 billion, down 42 per cent from the previous year. Meanwhile, the value of transactions in Montreal reached $1.63 billion to start the year, an increase of 18 per cent from last January.
Montreal hasn’t been this close to Vancouver since 2008.
Business News Network
January saw home sales in Montreal climb the fastest in a decade as lower prices lured buyers.
- Montreal’s benchmark home price $349,300
- Vancouver’s benchmark home price $1.02 million
- Toronto benchmark home price $765,400