GMREB: June Sales Decrease, Prices Increase in the Montréal Area

Île-des-Sœurs, July 8, 2010 – Sales in the Montréal Metropolitan Area decreased by 19 per cent in June 2010 compared to June 2009, meaning a year-to-date increase in sales of 16 per cent compared to last year, according to the Greater Montréal Real Estate Board's (GMREB) MLS® statistics. Property prices also continued to increase.

“June’s decrease in sales is no surprise because June 2009 was an exceptional month for the real estate market. In fact, it was the first time that sales in the Montréal area surpassed 4,000 transactions in a month of June,” said Michel Beausejour, FCA, Chief Executive Officer of the GMREB. “The market in June 2009 was recovering after a few difficult months due to the recession. And now, one year later, the market has returned to normal,” he added.

“In addition, sales are up by 16 per cent in the first six months of 2010. This is because the market was very active, more than usual, at the start of the year, as consumers who had put their property purchase on hold due to the recession were back on the market,” said Beauséjour.

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Marlene Ofter

Marlene Ofter

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