Île-des-Sœurs, November 9, 2010 – There were 2,839 sales transactions in the Montréal Metropolitan Area in October 2010, a 19 per cent decrease compared to October 2009. On a year-to-date basis, sales have increased by 3 per cent compared to the first ten months of last year.
Property prices in the Montréal area continued to increase in October 2010. The median price of single-family homes increased by 8 per cent compared to October 2009, reaching $260,000. The median price of condominiums increased by 12 per cent to reach $218,000, while that of plexes increased by 9 per cent to reach $380,000.
“Market conditions continued to favour sellers, which explains why property prices continued to increase in the Montréal area,” said Ms. Ménard. “Consumers are still buying real estate, as price increases indicate that buying a property is still a solid investment. Moreover, Montréal is one of the most affordable cities in Canada,” she added.