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Greater Montreal condo sales up 23% in July

Greater Montreal condo sales up 23% in July

MONTREAL – Condo sales, which now account for half the residential real estate transactions on Montreal Island, soared 23 per cent last month, compared with July 2010, Multiple Listing Service data show.

Median prices for condos on Montreal Island, which accounted for 77 per cent of all condos sold in Quebec last month, rose five per cent, to $232,000, compared with July 2010, the Greater Montreal Real Estate Board said. Year-to-date, condo sales are up one per cent on Montreal Island, with median prices up seven per cent, compared with the same period in 2010.

Sales in all housing categories in Greater Montreal were up six per cent in July over the same month in 2010. Year-to-date, total sales dropped eight per cent in Greater Montreal compared with the same period in 2010.