Montréal Real Estate Market Continues to Favour Sellers

[LindbergMTL]

November 14, 2008 by Deyanira Bautista

Filed under Montreal Market Report

 

According to the Greater Montréal Real Estate Board’s MLS® system, there were 36,955 transactions from last year until now. 4% less sales compared to last year.

 

In terms of property prices in the Metropolitan Area of Montréal, the median prices of single-family homes and plexes increased by 6% compared to the same period last year, condominium prices increased by 3%.

Compared to the first 10 months of 2007, condo sales grew by 5% in the Montréal Metropolitan Area. On the other hand, sales of single-family homes decreased by 7%, and plex sales decreased by 5%.

 

 

“The median price of a single-family home grew last month by 4 per cent, increasing from $220,000 in October 2007 to $228,000 in October 2008. The plex market retained a stable median price at $329,250, while that of condominiums fell slightly by 1 per cent. This decrease can be explained by the minor decline in median prices of condominiums on the Island of Montréal, the largest condominium market.

October’s resale market continues to favour sellers, despite a 9 per cent increase in the number of active listings in the MLS® system.”

 

Source: Montreal Real Estate Board

 

http://montrealrealestateblog.com/