Prospective home buyers and house sellers are probably already aware of this, but Royal LePage says the Montreal housing market is red hot.
In a release this morning, the real estate agency says a drop in inventory and sustained demand has resulted in the largest appreciation of house prices in five years.
In the third quarter, the average price of a home in Montreal jumped 4.9% to almost $353,000 ($352,798).
The company also says despite the increase " prices generally remained reasonable, in comparison with other large Canadian cities..."