(Source: Marketwire)

ILE-DES-SOEURS, QUEBEC – The drop in MLS® sales evidenced over the last few months in the Montreal Metropolitan Area relented in March, registering a 12 per cent decrease compared to the same month last year. Property prices continued to increase slightly, with the median price of a single-family home reaching $227,000, reported the Greater Montreal Real Estate Board.

In terms of prices, the median price of a single-family home increased by 1 per cent in March 2009 compared to March 2008, to reach $227,000. The median price of condominiums grew by 2 per cent, while that of plexes increased by 3 per cent.

“This is good news for the Montreal real estate market,” added Mr. Beausejour. “Not only has consumer confidence increased and the market become more active, but property prices are stable and are even increasing slightly.”

Sales of single-family homes decreased by 11 per cent in March 2009 compared to the same month last year. Condominium sales decreased by 15 per cent and plex sales dropped by 6 per cent.

Geographically, sales on the Island of Montreal decreased by 11 per cent in March 2009 compared to the same month last year. Sales were down 14 per cent on the South Shore, 4 per cent in Laval, 11 per cent on the North Shore and 27 per cent in Vaudreuil-Soulanges.

On March 31, 2009, the number of active listings on the MLS® system increased by 14 per cent in comparison with the same date last year.

Read full the full article “Market Activity Increases With Consumer Confidence” at Marketwire (April 02 2009)

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