For all the talk of the imminent cooling, Montreal's real estate market continues unabated. At least its resale (secondary) component does. The average price of a condo changing hands on the island is now $234,000.
The latest report from the Greater Montreal Real Estate Board shows record increases in the number of transactions (12% in 2007 so far with 18% in May) with condominimum units in the region showing the strongest growth (16%):
28,157 transactions were recorded between January 1 and May 30, 2007, compared to 25,126 transactions for the same period last year.Condo prices on the island of Montreal were, understandably, the highest ($234,000, +6%). The resale price averages for condos in Laval, Montérégie, the Laurentians and Lanaudière were in the $164,000-to-$172,000 range.
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