Despite a Declining Market, Sales of Luxury Homes are Increasing in the Montréal Area
Between January and April 2011, sales of single-family homes in the Montréal Metropolitan Area fell by 14 per cent compared to the same period last year. However, the number of homes sold for more than one million dollars increased by 13 per cent since the start of the year. There were 108 MLS® sales in this price range, including 97 on the Island of Montréal. This trend did not carry forward to the luxury condominium market, as the number of condominiums sold for more than $500,000 decreased by 4 per cent in the Montréal area in the first four months of the year, at 180 sales.
SOURCE: 2011 Québec Federation of Real Estate Boards.