It is good news, the resale market of the region of Montreal has known a good renewal in July of 2009 with a rise in sales of 19% compared to the same period last year. And the good news also fits in well with the value of the properties, since the average price of a one-family house also increased by 7%. In the case of -plexes (2 to 5 residences), this rise in value was 3%.
These figures come from the Greater Montreal Real-Estate Chamber, with the data from the MLS (Multiple Listing System).
“Since it is about a period of holidays, the summer is usually quieter for the resale market. This year is an exception however. The market has been very active in July and is catching up after a beginning of the year which was a little more slow”, specifies Michel Beauséjour, CEO of the GMREC.
He adds positively: “This is excellent news for the salesmen and the buyers. The market is active, prices are maintained, the recession is behind us, interest rates are still low, the labour market improves and consumer confidence is on the rise”.
Only one small black spot, really small, in the picture: on July 31, 2009, the number of registrations in force was 1% lower compared to the same period last year.