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The limited number of houses on the market in Montreal is pushing prices up, said Georges Gaucher, the general manager of Royal LePage Village in Notre-Dame-de-Grâce.

“Inventories of two-storey houses and bungalows are low and when you have that phenomenon, what happens is people start bidding for houses,” he said.

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The median price of a two-storey house sold in the Montreal area during the first three months of 2018 by Royal LePage was $492,751, the real estate firm said on Friday. That’s an increase of 8.3 per cent from the equivalent period the year before.

The biggest gain was in the western part of Montreal Island, where the median price rose 14.4 per cent year-over-year to $549,226, an increase of 7.2 per cent from the previous quarter.

In central Montreal, prices were up 13.9 per cent, year-over-year, to $686,253, though that was only a slight increase from the last three months of 2017.