Market Report For Downtown Montreal Condos For April 2010

Market Report For Downtown Montreal Condos For April 2010

Our Real Estate Board reported April condo sales shot up over 40% to 41 sales versus the previous month's 29. For the first time this season, supply and new listings dipped somewhat perhaps indicating that the season has peaked for the spring and was supported by the lowest month inventory yet this year of 4.9 months for available property.

Average price smoothed out to $532,510 on 41 sales over March's average of $570,952 on 29 sales and this year's high average of $575,877 on 15 sales in January.

Discounting off the last asking price has stayed steady indicating as always that right-priced properties sell within normal parameters. something that the majority of clients learn from experience and not from their agent for many reasons, some the client's own doing and sometimes the agents.

Days on market were at their lowest at 79 days, versus the last 3 months average of 106 days, indicating good demand and likely the fever created by our new mortgage rates and new mortgage qualification conditions which came in to force in mid-April.