Despite a drop in sales, Montreal MLS prices continue to climb in all property categories according to the Greater Montreal Real Estate Board.

Due to a drop in consumer confidence real estate sales in the Montreal Metropolitan Area declined 37 per cent in January 2009 compared to a year ago.

The steady increase in Montreal Real Estate prices is contrary to the Toronto Real Estate market and also the Real Estate markets of Vancouver and Calgary.

All property categories recorded price increases. The median price of a single-family home grew by 3 per cent, Condos grew by 4 per cent and Plexes increased by 3 per cent.

Perhaps without the Toronto Land Transfer Tax and maybe some new incentives the Toronto Real Estate market and Toronto Condos could show similar increases in price like Montreal.