The Trend of Past Months Continued Into December 2010

The Montréal area real estate market in December 2010 saw the same trend as per the preceding months: sales decreased and prices continued to increase. The 2,456 transactions that took place in the Montréal area in December represented a 12 per cent decrease compared to sales in December 2009.
“Sales activity in recent months indicates that the real estate market has returned to normal levels. December 2009 was an exceptionally active month, so it’s no surprise that sales decreased in December 2010. Sales have returned to levels similar to those registered from December 2002 to 2007, remembering that December 2008 was affected by the recession,” said Diane Ménard.
Despite this decrease in sales, prices continued to increase in the Montréal area in December 2010. The median price of single-family homes increased by 9 per cent compared to December 2009 to reach $262,000. The median price of condominiums also increased by 9 per cent to reach $218,000, while that of plexes increased by 10 per cent to reach $385,000.
As at December 31, 2010, the number of active listings on the MLS® system increased by 10 per cent in comparison with the same date last year.

 

MLS® Residential Statistics

Montréal Metropolitan Area

December 2010 versus December 2009

Variation

Active listings

20,254

+10%

New listings

3,653

+7%

Total sales

2,456

-12%

Single-family

1,323

-17%

Condominiums

798

-5%

Plexes (2 to 5 dwellings)

334

-8%

Volume of sales

$747,136,263

-6%

Median price

Single-family

$262,000

+9%

Condominiums

$218,000

+9%

Plexes (2 to 5 dwellings)

$385,000

+10%

Source: Greater Montréal Real Estate Board by Centris

Amir Sam

Amir Sam

Certified Real Estate Broker
CENTURY 21 Immo-Plus
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