Montréal’s Real Estate Market Performed Well in 2009

Sales in the Montréal Metropolitan Area increased by 3 per cent in 2009 compared to 2008, with a total of 41,802 transactions, according to the Greater Montréal Real Estate Board's MLS

"Although sales decreased the first four months of 2009, Montréal’s real estate market rebounded and finished the year on a positive note," said Michel Beauséjour, FCA, Chief Executive Officer of the GMREB. "Because sales increased by 3 per cent in 2009 compared to 2008, it’s obvious that Montréal’s real estate market wasn’t really affected by the recession," he added.

There was an increase in sales in all property categories in 2009. Single-family homes led the way with a 4 per cent increase in sales, followed closely by condominiums and plexes, which each posted a 3 per cent increase.

In terms of prices, the median price of a single-family home in the Montréal area reached $235,000 in 2009, a 4 per cent increase compared to 2008. The median price of condominiums increased by 5 per cent to reach $194,500, while that of plexes grew by 4 per cent to reach $349,000.

"Not only was the market more active in terms of sales in 2009, but prices continued to slowly and steadily increase in Montréal, meaning that real estate continues to be a good investment

Robert Clark

Robert Clark

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