The resale market for the metropolitan region of Montreal continues to maintain itself, contrary to other large Canadian cities, even while showing a slight decrease of 1 % in the transactions concluded in July as shown by the MLS (Multiple Listing Service) system.
The Greater Montreal Real Estate Chamber (CIGM) has registered 2 892 sales last month, which is almost the same amount as in July of 2007, when this same period of 2007 had broken the all-time record.
« Contrary to the trend elsewhere in Canada, the resale market of the metropolitan region of Montreal is doing well », indicates Michel Beauséjour, FCA, executive director at the CIGM. « The slowdown is in fact much more pronounced in other large Canadian cities, like in Toronto where sales since the beginning of the year have decreased by 14 %, or in Calgary, with a decrease of 32 %, or in Vancouver, with 20 % less sales. »
According to the report of the CIGM, 25 519 transactions have been concluded through the intermediary of the MLS system during the first six months of the year 2008, thus noticing a decrease of 3 % if one compares with the same period last year.