Montréal Resale Market Trends
July 10, 2008 by Deyanira Bautista
Filed under Montreal Market Report
According to the MLS® system data, the resale market in the Montréal Metropolitan Area is bucking the trend in comparison with other large Canadian cities, says the Greater Montréal Real Estate Board’s (GMREB). In June 2008, residential transactions were on the rise by 2%, which brings the decrease of sales since the beginning of the year to only 3%.
“Unlike the general trend elsewhere in Canada, the resale market in the Montréal Metropolitan Area is doing well,” says Michel Beauséjour, FCA, Chief Executive Officer of the GMREB. “Other large Canadian cities are seeing slower activity, with sales in Toronto decreasing by 14% since the beginning of the year, by 32% in Calgary and by 20% in Vancouver.”
For the Montréal Metropolitan Area, 25,519 transactions were recorded in the MLS® system during the first six months of 2008, a decrease of 3% compared to the 26,430 sales during the same period last year.
“Condominiums go against the tide recorded since the start of 2008 with a cumulative increase of sales of 7% compared to the first six months of 2007, while single-family homes show an equal decrease of 7%,” says Michel Beauséjour.
|
MLS® Residential Statistics
Montréal Metropolitan Area – January to June 2008 |
||
|
Variation |
||
| Active listings New listings Total sales Single-family Condominiums Plex (2 to 5 dwellings) Volume of sales Median price Single-family Condominiums Plex (2 to 5 dwellings) |
24,771 |
+2 %
+6 % -3 % -7 % +7 % -6 % +1 % +6 % +3 % +7 % |
Source: The Montreal Real Estate Board
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 
eal estate is a legal term (in some jurisdictions, notably in the USA, United Kingdom, Canada, and Australia) that encompasses land along with anything permanently affixed to the land, such as buildings, specifically property that is stationary, or fixed in location.
Westernrealestate.info contains info about Asheville Real Estate, Perth Property, Western North Carolina Land, Western Australia Property, Buncombe County North Carolina, Rental Property, Mountain Home, Western Montana, Rental Properties, City Beach Perth, Homes For Sale Perth,
Property Developers and more
It’s good to see our neighbor to the north isn’t experiencing any troubles with the U.S.’s economic downturn.
Its nice to see that not the whole world is being effected by the financial crises
Very interesting figures there, I had to chuckle at Layla's comment that the north is not having any financial troubles, a little cheeky.