MONTREAL—Average Montreal island home prices hit a record high of almost $500,000 in October, rising 12.7 per cent from the prior year, the area’s real estate board said Monday. Average prices in the city of Montreal rose at least 13 per cent in all three categories. Still, Canada’s second-largest city and area remain a real estate bargain even as average prices were up 9.2 per cent to $386,911 from $354,163 a year ago. Greater Montreal homes also sold more quickly. “The single-family home and plex markets are becoming increasingly favourable to sellers, as selling times for these property categories are falling,” said Mathieu Cousineau, president of the Greater Montreal Real Estate Board.

Source: thestar November 06, 2017 17:26 UTC