Median prices of single-family homes in the Greater Montréal Metropolitan Area rose by 4% in August compared to the same month last year while total sales decreased by 6%, according to MLS® statistics of the Greater Montréal Real Estate Board (GMREB). Year-to-date, overall sales decreased by 4% in 2008. “Greater Montréal’s slow and steady increase in prices reassures buyers and sellers that the residential real estate market continues to be a good investment,” said Michel Beauséjour, FCA, GMREB’s Chief Executive Officer.
“Montréal’s stable market continues to defy the trend elsewhere in Canada’s major cities like Calgary, Vancouver and Toronto where sales have dropped significantly, even as high as 53% in the case of Vancouver. Even in Calgary, prices have started to decrease,” he said. Read More
