Montreal Real Estate Prices Up, Sales Down
December 17, 2008 by Deyanira Bautista
Filed under Montreal Market Report, Popular
Last month’s MLS® residential sales in the Montréal Metropolitan Area decreased by 31 per cent compared to November 2007.
A 6% decrease in year-to-date sales compared to the same period last year, according to the Greater Montréal Real Estate Board (GMREB). While sales have decreased, single-family home median prices are up by 6% year-to-date.
“Montréal’s real estate market has done quite well this year especially when you consider that prices are up and we’re comparing today’s sales with 2007, the year that broke all sales records,” said Michel Beauséjour, FCA, GMREB’s Chief Executive Officer. “All being said and done, Montreal’s market continues to be a good investment, particularly when comparisons are made with other major Canadian cities such as Toronto, Calgary and Vancouver where sales of single-family homes have dropped by as much as 37 per cent year-to-date, whereas we’re only at a decrease of 9 per cent,” he said.
Source: CIGM
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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 
It is hard tobelieve that your market is up in Montreal while most US markets are down. I guess the mortgage problems have not hit you. I do see your volume is down. Maybe you are getting our cold.
Let’s hope we are not getting that cold!
I think people just didn't want to lower the price but it would eventually break because it didn't make sense to have sales declined more than 30% while prices increased.