Wednesday, October 7, 2009

Montreal Housing Resales Climb in September

Housing resales across the greater Montreal area rose by five per cent in September, compared to the same month a year earlier, according to the Greater Montreal Real Estate Board.
Last fall was a slower than average period for real estate, what with everyone gripped by the collapse of the U.S. housing and banking sectors. But this September's numbers don't just look good compared to a crummy '08. According the GMREB, it was the best September on record. (We pause to toot our party horns and raise a midday glass of champagne!)
I know I'm doing my best to keep the numbers up. I closed two sales last month. That compared to one sale in September, 2008. A welcome 50-per-cent increase!(Update: Alert reader Amy Barratt points out that is actually a 100-per-cent increase. This is why I let her handle the calculator.)
What else does the board say? Prices are on the rise, with the median price of a single-family home or condominium unit up 7 per cent. Plexes are up by 5 per cent.
The number of active listings decreased by 7 per cent to 20,912. The number of new listings to hit the MLS system in September totaled 6,110, a 11-per-cent drop compared to a year earlier.
There were more sales between January and September, 2008 but lower volume through the first nine months of 2009 translated into prices that were bwtween 3 and 4 per cent higher than a year ago.

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