“The market in Montreal is vibrant and active,” said Liza Kaufman, a partner in Sotheby’s International Realty Quebec. Ms. Kaufman attributes the robust housing market in the Montreal area to persistent uncertainty in the stock market, which makes real estate an attractive investment.
Although the market slowed somewhat after its 2008 peak, “prices never really dropped,” said Joan McGuigan, a certified real estate broker with McGuigan Pepin Realty. There were fewer sales beginning in 2009, but Ms. McGuigan says sales have picked up in 2012.
Single-family homes in the centrally located neighborhood of Westmount cost about 1.4 million Canadian dollars ($1.405 million, at 0.99 Canadian dollars to the dollar) on average in 2012, according to Ms. McGuigan. Condominiums in Ville-Marie, another Montreal neighborhood, cost 393,000 dollars on average. She says homes in Chambly usually cost less, averaging 280,000 dollars over the past year. The house profiled here is priced much higher because of its unique location and historical character, the listing agent said.
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