Thursday, March 5, 2009

Montreal Home Sales Down, But Prices Continue to Rise

From CEP News:

(CEP News) - Home sales are down but prices continue to rise in Montreal, the Greater Montreal Real Estate Board reported.

Home sales were down 30% in February compared to a year ago, led by condominium sales, which are down 32% from a year ago, the board reported.

Regionally, sales were down 25% in Vaudreuil-Soulanges, 30% on the North Shore, 31% on the South Shore and 32% on the Island of Montreal.

However, the median price of a single-family home continued to rise compared to the same period a year ago, up 2% to $225,000 for a single-family home. Condominium prices are 6% higher compared to a year ago, with the average price now $187,000.

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