March Statistics: Market Activity Increases (Really?)

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 Montreal Real Estate Board.

In terms of medium prices:
Single-family home increased by 1% in March 2009 compared to March 2008, to reach $227,000.
Condominiums grew by 2%, while that of plexes increased by 3%.

Volume of Sales:
Single-family homes decreased by 11%
Condo sales decreased by 12%
Income Property Sales decreased by 6%

Listings: 14% more listings than march 2008.

…Not much has changed.

Posted by:  Deya Bautista - Affiliated Real Estate Agent working as part of the McGill Immobilier team. Specializing in condos and revenue property in the metropolitan area of Montreal. For buying or selling contact Deya at: 514.917.7889

Related Articles:

1. April: Resale Market’s Best Month Since the Start of the Year
2. Montréal Real Estate Market Continues to Favour Sellers
3. Montreal Market Report: February 2009
4. Montreal Real Estate Prices Up, Sales Down
5. Despite a Drop in Sales, Prices Continue to Climb