Escalation in House Sales for January 2010According to the Statistics or the Greater Montreal Real Estate Board, 2,784 transactions were concluded in the Montreal area in January 2010, which represents a growth of 70% compared to January 2009. Condominiums registered the greatest growth, a whopping 98% higher than in January 2009. According to Michel Beauséjour, GMREB’s Chief Executive Officer, this growth is mainly due to first-time buyers. Sales of single-family dwellings rose by 60% in January 2010 compared to January 2009, while sales of plexes rose by 57%. In January 2010, the median price of condominiums rose by 12%, single-family dwellings by 4% and plexes by 7% compared to January 2009. It is obvious that, as far as the real estate market is concerned, we can no longer speak of being in a recession. If the number of sales continues to escalate in the months to come, 2010 will be a very good year!
Posted by Francesco Mercurio
on February 18, 2010
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