Montreal Real Estate Market: Exceptionally busy this summer

As the monthly stats keep on coming, I realize now that it was not just me having an extremely busy summer.
Usually, homes sales are slow during the summer months. A lot of agents as well as sellers, take the time off to enjoy their vacations to come back to the market during the fall time.

Well, not this year.

“Even though real estate sales are usually slower during the summer because people are more in holiday mode, this year has been a real exception. July’s real estate market was very active, meaning the market is doing a good job of catching up after a slow start this year,” said Michel Beauséjour, FCA, Chief Executive Officer of the GMREB.

You can definitely say we had a slow start. On my end, a lot of the transactions didn’t start until April-May and has not stopped just yet. I’m still trying to squeeze in a mini vacation between sales.

Ok, back to the subject: According to the GMREB July stats for 2009, compared to 2008 are the following:

Increase in sales

• Condominiums: 20%
• Houses: 18%
• Plexes: 19%

Prices continue to climb

The median price of single-family homes went from $230,000 in July 2008 to $246,000 in July 2009, an increase of 7 % and plexes increased by 3%. Condo prices remained the same. And let’s hope they stay that way, hard enough to find a good condo downtown for less than 350,000!.

To get the complete report, visit the GMREB website. And if you’re looking for a condo downtown, and need a good agent to represent you, call us, or drop us a line!

To all of you, have a great weekend!