Île-des-Sœurs, April 2, 2009 - The drop in MLS® sales evidenced over the last few months in the Montréal Metropolitan Area relented in March, registering a 12 per cent decrease compared to the same month last year. Property prices continued to increase slightly, with the median price of a single-family home reaching $227,000, reported the Greater Montréal Real Estate Board.
"Spring is the busiest time of the year for the resale market, and 2009 should be no exception," said Michel Beauséjour, FCA, Chief Executive Officer of the GMREB. "Interest rates are at their lowest ever, and consumer confidence is up. In March, 39 per cent of consumers said that now is a good time to make a major purchase, such as a property, compared to 28 per cent last month," he added.
Source: Greater Montréal Real Estate Board by Centris®