In comparison to February 2008, last moth’s report shows us a market that continues to climb in terms of prices and (again) the actual sales are down.
What happened in February 2009, compared to the same month last year?
- The median price of a single-family home grew by 2 per cent , to reach $225,000.
- The median price of condominiums grew by 6 per cent, reaching $187,00.
- The median price of plexes dropped slightly by 1 per cent.
- The total sales of all properties decreased by -30%
“For the second consecutive month, there has been a decrease in the number of new listings,” added Michel Beauséjour, FCA, Chief Executive Officer of the GMREB. “This is an interesting situation because it shows that, despite the economic situation and the lack of consumer confidence in the economy, there is no increase in the number of property owners wanting to sell. Montréal is actually in a decent position when compared with other major Canadian cities such as Toronto, Vancouver and Calgary, which are not only seeing a large drop in sales, but are also seeing a drop in prices.”
Source: The Greater Montreal Real Estate Board
Posted by: Deya Bautista - Real Estate Broker working as part of the McGill Immobilier team. Specializing in high end condos in downtown and Old Montreal. For buying or selling contact Deya at: 514.917.7889 
For how long… I sugest that all new home buyers wait lets say a year or two. I think by then lay offs will be at their greatest in Montreal and so will be reposesions. Be patient. Remeber 2+2=4, it will drop….no matter how hard all this real state agents try to blow agaisnt it.:)