Montreal Real Estate, A Return to Form in October

Housing resales in greater Montreal were up by 23 per cent last month compared to October, 2008.
A total of 3,543 homes traded hands - a notable improvement over the year earlier period, also known technically as "the beginning of the giant freakout."
In fact, real estate sales in the metropolitan area plummeted by 17 per cent a year ago, as buyers and sellers digested the carnage being visited on the U.S economy and wondered what the heck it meant for Montreal.
Not so much, as it turned out.
Still, let's not belittle last month's terrific sales numbers. It is more useful to measure them against October, 2007, the best October of record, according the Greater Montreal Real Estate Board. How did last month stack up? Three per cent more sales than the best previous October.
Condo sales were up 28 per cent compared to a year earlier and up 12 per cent compared to 2007.
Single-family home and plex sales were up 23 per cent and 16 per cent respectively compared to last year but were stable compared to 2007.
Prices across all property types were up six per cent compared to this time last year.
The median price of a single-family home reached $240,000, while that of a condo reached $195,000 and a plex (two to five dwellings) reached $350,000.