Montreal continues to be beaten - badly - by the off-island suburbs. Young families and many of the most promising would-be taxpayers are hauling their stuff off island. The reason is simple. You can save a lot of money by living out there where the air is fresh and parking is never an issue.
The average cost for a condo in Montreal last year was $241,000 while it was $175,000 in Laval. The average on-island home was $357,000, compared to $236,000 in Laval. The numbers were similar in the other off-island suburbs.
Thursday, February 28, 2008
Monday, February 25, 2008
Canadian home prices doubled in past 10 years
The number of homes sold nationally rose over 57 percent to more than 500,000 last year from 331,092 in 1997.
"Never before have we seen such a continuous run up in Canadian real estate," Michael Polzler, an executive vice-president at Re/Max, said in a statement.
Low interest rates, a robust job market, and strong consumer confidence were all credited as drivers. Immigration and domestic migration to tap Western Canada's booming economy also helped lift demand, the report said.
"Never before have we seen such a continuous run up in Canadian real estate," Michael Polzler, an executive vice-president at Re/Max, said in a statement.
Low interest rates, a robust job market, and strong consumer confidence were all credited as drivers. Immigration and domestic migration to tap Western Canada's booming economy also helped lift demand, the report said.
Saturday, February 23, 2008
Toronto Real Estate Sales in February Fall 14% from 2007
Montreal – The Toronto area has seen a significant drop in resale home transactions for the first two weeks of February compared to the same period a year ago, the Toronto Real Estate Board reported.
The first half of February yielded 2,775 sales in the Greater Toronto Area, down 14% from the 3,240 recorded during the same period in 2007. The moderation was even more pronounced in the City of Toronto, which saw sales fall 18% to 1,066 compared to last February’s 1,308.
The first half of February yielded 2,775 sales in the Greater Toronto Area, down 14% from the 3,240 recorded during the same period in 2007. The moderation was even more pronounced in the City of Toronto, which saw sales fall 18% to 1,066 compared to last February’s 1,308.
Wednesday, February 20, 2008
Toronto Real Estate Board Reports Sales Near 3,000
Resale home transactions in the Greater Toronto Area declined in the first two weeks of February, Toronto Real Estate Board President Maureen O'Neill announced today.
The first half of the month yielded 2,775 transactions, down 14 per cent from the 3,240 sales recorded in the same timeframe last year. The moderation in sales was more pronounced within the City of Toronto--down 18 per cent to 1,066 from last February's 1,308-than in the 905 suburbs, which saw transactions off 11 per cent.
The first half of the month yielded 2,775 transactions, down 14 per cent from the 3,240 sales recorded in the same timeframe last year. The moderation in sales was more pronounced within the City of Toronto--down 18 per cent to 1,066 from last February's 1,308-than in the 905 suburbs, which saw transactions off 11 per cent.
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