The low demand which has plagued Westmount since last September is finally having its impact on sale prices, which now have dropped some 10 per cent in the last six months. We are now looking at price levels equivalent to 2006, having lost all the momentum of the last two years.
Agents have reported 10 home sales in March — which is usually the busiest month of the year in Westmount, with an average of 24.4 sales. The total volume this year is only 25 one- and two-family dwellings, just over half the 47 reported in the first three months last year. Read More
According to the MLS® system data, the real estate 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.” Read More
The Greater Montréal Real Estate Boards’s (GMREB) MLS® system shows a 9% decrease in transactions for May, compared to the same period in 2007, with 4,544 sales. This means a year to date decrease in sales of 4% compared to the same period last year. However, the median price of a single-family home is on the rise by 5% in comparison with May 2007.
“It’s good news for the market and naturally for sellers as prices are continuing to increase slowly and steadily. This is also helpful for buyers whocan be reassured that Montréal real estate continues to be a good investment,” says Michel Beauséjour, FCA, Chief Executive Officer of the the GMREB. Read More
The residential resale market shows positive results for the first quarter of 2008. When comparing with the same period in 2007, the number of sales decreased slightly by 4% and the median price of single-family homes increased by 8%, according to the Greater Montréal Real Estate Board’s (GMREB) MLS® system data.
“The Montréal Metropolitan Area did pretty well, considering the performance of other large Canadian cities like Calgary and Toronto, which show higher decreases in activity since the beginning of the year,” says Michel Beauséjour, FCA, Chief Executive Officer of the GMREB. “Lower interest rates and a strong job market should both have a positive effect on results over the next few months.” Read More
Prices are still climbing in the Metropolitan Montreal Area at a rate of 10% compared to the price of single family homes at this time last year. The number of transactions have decreased however by 7%. To read more, click here.
Strong consumer confidence and a robust economy have contributed to growth in Montreal’s luxury home market with sales of properties priced above $900,000 rising 14 per cent in the first quarter, year-over-year, to 56 units sold in 2007 from 49 units in 2006. The strong growth seen in the first quarter is expected to persist throughout 2007. Read More
