Increase In Sales Of High-End Homes In Montreal

In the month of December, homes valued at $500,000 or more than that inclined by 32 per cent in the Montreal area, with a sharp increase the previous month before. The sales of Homes on the low-end side experienced a decline.

The President of the Greater Montreal Real Estate Board, Daniel Dagenais said; “There was a 10 per cent decrease in sales in the price range of $200,000 to $300,000, which is perhaps a first sign of the effects of the most recent mortgage tightening measures.”

In total, the sales for that month was increased by 3 per cent over the year, with an increase for the 22^nd month in a row. The month of December was recorded as the best sales in total for over five years.

Unlike last year’s sales in December, the average price of single-family homes and condominiums increased by 2 per cent, which amounted to about $300,000 and $245,000 correspondingly through the Montreal CMA.