GMREB: November 2010 MLS® Sales: New Record for the Island of Montréal

Île-des-Sœurs, December 9, 2010 – November 2010 MLS® sales on the Island of Montréal set a new record with 1,370 sales, an increase of 1 per cent, slightly surpassing the previous record set in November 2009, according to the Greater Montréal Real Estate Board's (GMREB) MLS® statistics. Sales in the Montréal Metropolitan Area decreased by 5 per cent in November 2010, while year-to-date sales increased by 2 per cent.

“November was a strong month for the Montréal area real estate market,” said Diane Ménard, Vice-President of the GMREB Board of Directors. “It’s true that MLS® sales decreased for a seventh consecutive month, but the decrease was much smaller than those registered in recent months. Furthermore, some areas really stood out, such as Laval, which posted a 3 per cent increase in sales, and the Island of Montréal which set a new November sales record,” she added.

In terms of prices, all three property categories registered a 7 per cent increase in median price in November 2010 compared to November 2009. In the Montréal area, the median price of single-family homes reached $260,750, that of condominiums reached $218,000 and that of plexes reached $385,000.

“These price increases are good news for sellers, as it shows that real estate continues to be a solid investment. Furthermore, selling times continued to decrease in November, which is also encouraging for sellers. There was good news for buyers as well, as they had more choice compared to November 2009 as active listings increased by 7 per cent,” said Diane Ménard.

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Marlene Ofter

Marlene Ofter

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