Tracking down A Decent Home Area In Montreal
Montreal is considered to be one of the best North American cities for investing in real estate. The city draws many Asian, Middle East and European investors. At present, Montreal has a target of 30% of new residential construction for low or modest income households. The city also has an adequate number of undeveloped land that could represent some 15,000 new housing units. In Greater Montreal, the average selling time for a residential property (of all types) is 72 days, which is up 6 percent from 68 days a year earlier. As for the number of active home listings, the Multiple Listing Service (MLS) inventory has increased since 2004, though it remains fairly stable since the beginning of the year. For the period ending October 30, there were around 32,261 residential listings on the Greater Montreal Real Estate Board (GMREB) MLS network, as compared to 28,548 a year earlier. Montreal Sees A Surplus Of Homes There is currently a surplus of homes available on the housin...