Monday, May 18, 2009

Local Housing : Lots of Choice Yet Prices Firm

La Presse had a good resumé of the current housing market in the Saturday Mon Toit section.
The headline read "À défaut d'aubaines, l'embarras du choix", or "In the Absence of Bargains, an Embarrassment of Choice".
The underlying theme was that while turmoil has struck other markets across North America, Montreal continues to chug along.
Buyers hoping to scoop up real estate at distressed prices have been disappointed. Prices are stable and even rising. What has changed is that properties are taking a little longer to sell. It took the typical home 65 days to sell during the first three months of last year. During the first quarter of 2009, that listing period was 80 days. There are more properties to choose from and buyers have more time to consider their purchase, but prices continue to increase.
You can read the article here.

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