Montreal home sales down 38 per cent to one of the lowest levels on record

Transactions declined to one of the lowest levels since data tracking began in 2000 as Montreal real estate prices held strong in November.

On a year-over-year basis, median prices across the three property categories tracked were mostly flat.

Median prices and sales were not changed in the month.

As a result of the historic decline in year-over-year transactions, the city is experiencing a backlog of active listings.

The director of market analysis at QPAREB said in the report that the number of new listings in November is down again, indicating that potential sellers are not rushing to sell their properties.

Quebec's total sales were down 31 per cent while active listings were up 40 per cent and median prices were unchanged.