"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," said Daniel Dagenais, President of the Greater Montreal Real Estate Board.
Overall sales for the month were up 3 per cent though year-over-year, the 22nd
consecutive month of gains. It was also the best December sales total in 5 years.
The median price of single-family homes and condominiums rose by 2 per cent compared to December of last year to reach $300,000 and $245,000, respectively, across the Montréal CMA.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
Investment Hot Spots:
Hillaton, Point Cross, Norwich, Blanchard Settlement, Colinton
Sales of homes priced at $500,00 or above rose 32 per cent in Montreal in December, following a sharp rise in the month before, while lower-priced homes saw a decline in sales.