Last month’s MLS® residential sales in the Montreal Metropolitan Area decreased by 31 per cent compared to November 2007, a 6 per cent decrease in year-to-date sales compared to the same period last year, according to the Greater Montreal Real Estate Board (GMREB). While sales have decreased, single-family home median prices are up by 6 per cent year-to-date.
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MLS® Residential Statistics
Montreal Metropolitan Area
January to November 2008 versus January to
November 2007
Variation
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Active listings (cumulative average) 24,047 +6%
New listings 72,917 +5%
Total Sales 39,233 -6%
Single-family 23,333 -9%
Condominiums 11,117 +2%
Plexes (2 to 5 dwellings) 4,323 -8%
Volume of sales $10,109,879,648 -2%
Median price
Single-family $227,000 +6%
Condominiums $185,000 +3%
Plexes (2 to 5 dwellings) $335,000 +6%
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Source: Greater Montreal Real Estate Board by CentrisTM
“Montreal’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 Beausejour, 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.
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