Active Market in Montreal

 

 

There were 9,330 sales in the Montréal Metropolitan Area in the third quarter of 2009, an 11 per cent increase compared to the same period last year, according to the Greater Montréal Real Estate Board and provincial MLS® data.

"This increase in sales represents the Montréal area’s second consecutive quarter in positive territory," said Michel Beauséjour, FCA, Chief Executive Officer of the Québec Federation of Real Estate Boards and spokesperson for the Montréal region. "This is good news – not only is there increased market activity, but property prices are also continuing to grow, confirming that real estate remains a solid investment in the Montréal area," he added.

In terms of prices, the median price of a single-family home increased by 7 per cent in the third quarter of 2009 compared to the third quarter of 2008, reaching $243,000. The median price of condominiums and plexes also grew, registering increases of 3 and 4 per cent, respectively.

In terms of sales by property category, there were 5,600 single-family homes sold in the Montréal area from July to September 2009, a 10 per cent increase compared to the same period last year. Condominium sales increased by 11 per cent, while plex sales grew by 12 per cent.

Geographically, the Vaudreuil-Soulanges area stood out with a 23 per cent increase in sales in the third quarter of 2009 compared to the same period in 2008. The Island of Montréal and Laval also turned in strong performances, as sales in these areas increased by 14 per cent and 16 per cent, respectively. The South Shore and North Shore also stood their ground, with respective increases of 8 and 4 per cent in the third