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Led by Condominiums, Montréal’s Residential Real Estate Market Continued its Momentum in August

L'Île-des-Sœurs, September 7, 2017 - The Greater Montréal Real Estate Board (GMREB) has just released its most recent residential real estate market statistics for the Montréal Census Metropolitan Area (CMA), based on the real estate brokers’ Centris® provincial database. In total, 2,899 residential sales were concluded in August 2017, an 8 per cent increase compared to August of last year. This was the most active month of August since the GMREB began keeping track of property sales.

“The Montréal real estate market has been building an impressive track record,” said Mathieu Cousineau, President of the GMREB Board of Directors. “Sales have increased for 29 of the past 30 months, with July 2016 (0 per cent) being the only month in which sales did not increase. The last monthly drop in sales dates back to February 2015,” added Mr. Cousineau.

Sales by geographic area
  • Four of the five main areas of the Montréal CMA registered an increase in sales in August. The Island of Montréal led the way with a 12 per cent rise in sales.
  • Laval, the North Shore and the South Shore turned in a similar performance, with respective sales increases of 7, 5 and 7 per cent.
  • Only the Vaudreuil-Soulanges area registered a decrease in sales in August, as sales fell by 3 per cent compared to August of last year.
Sales by property category
  • Across the Montréal CMA, sales of single-family homes grew by 4 per cent in August, while sales of plexes (2 to 5 dwellings) remained unchanged.
  • Condominiums had an excellent month once again, as sales jumped by 19 per cent. This was the eighth consecutive month in which condominiums posted the largest sales increase among the three property categories.

Prices
  • Single-family homes in the Montréal CMA sold for 6 per cent more in August 2017 than one year earlier, with a median price of $325,000.
  • Price increases were more moderate for the two other property categories: +2 per cent for plexes ($470,250) and +1 per cent for condominiums ($251,500).


Number of properties for sale

The number of residential properties listed on the real estate brokers’ Centris® system (24,031) was 15 per cent lower than it was in August of last year.












For more information, please visit www.homepriceindex.ca.

Hot Month of July on Montréal’s Residential Real Estate Market

L'Île-des-Sœurs, August 4, 2017 - The Greater Montréal Real Estate Board (GMREB) has just released its most recent residential real estate market statistics for the Montréal Census Metropolitan Area (CMA), based on the real estate brokers’ Centris® provincial database. In total, 3,075 residential sales were concluded in July 2017, a 16 per cent increase compared to July of last year. This was the most active month of July in eight years.

Sales by geographic area
  • All five main areas of the Montréal CMA registered an increase in sales in July, with the Island of Montréal (+21 per cent) and Vaudreuil-Soulanges (+19 per cent) leading the way.
  • Laval and the North Shore registered similar results as sales in both of these areas rose by 14 per cent compared to July 2016.
  • The South Shore posted a more moderate sales increase of 6 per cent.
Sales by property category
  • Condominium sales increased by 24 per cent across the CMA, with 1,071 transactions concluded. This was the third consecutive month that condo sales have increased by more than 20 per cent.
  • Single-family homes also turned in an excellent performance, as sales of this property category grew by 13 per cent.
  • Plex sales were also on the rise, increasing by 2 per cent compared to July of last year.

Prices
  • Across the CMA, the median price of single-family homes increased by 8 per cent to reach $323,000 in July.
  • Half of all plex (2 to 5 dwellings) transactions were concluded at a price higher than $489,000, a 7 per cent increase compared to July of last year.
  • Finally, the median price of condominiums stood at $256,000, which is 2 per cent higher than in July 2016.

“For single-family homes, market conditions for resales are increasingly favouring sellers, which explains why price increases have been more sustained in recent months,” said Mathieu Cousineau, President of the GMREB Board of Directors. “We are also in a seller’s market for plexes, while market conditions for condominiums are almost balanced,” he added.

Number of properties for sale

The number of residential properties listed on the real estate brokers’ Centris® system (24,412) decreased by 15 per cent compared to July of last year.












For more information, please visit www.homepriceindex.ca.

Momentum Continues on Montréal’s Residential Real Estate Market

L'Île-des-Sœurs, July 6, 2017 - The Greater Montréal Real Estate Board (GMREB) has just released its most recent residential real estate market statistics for the Montréal Census Metropolitan Area (CMA), based on the real estate brokers’ Centris® provincial database. In total, 3,952 residential sales were concluded in June 2017, a 10 per cent increase compared to June of last year. The sales record for a month of June, which was set in 2009, was 4,163 transactions.

“The residential real estate market in the Montréal area is showing solid momentum, as we just registered the 25th increase in sales in the past 26 months,” said Mathieu Cousineau, President of the GMREB Board of Directors.

Sales by geographic area
  • For a second consecutive month, the area of Vaudreuil-Soulanges and the Island of Montréal clearly stood out with sales increases of 29 and 17 per cent in June.
  • Laval also registered a solid performance with a 13 per cent increase in sales compared to June of last year.
  • Sales on the South Shore also held their ground, rising by 6 per cent.
  • Only the North Shore posted a decrease in the number of residential sales, as transactions fell by 5 per cent compared to June 2016.
Sales by property category
  • For a second consecutive month, condominiums led the way, as sales of this property category jumped by 20 per cent across the Montréal CMA in June. In May, the increase was 23 per cent.
  • Plex sales were also very strong, increasing by 12 per cent.
  • Sales of single-family homes registered a more modest increase, at 4 per cent, but it remained the property category with the most transactions, as 2,248 sales were concluded in June.

Prices
  • Across the Montréal CMA, the median price of plexes reached $478,250 in June, a 4 per cent increase compared to June of last year.
  • As for condominiums, half of all transactions were concluded at a price higher than $257,500, meaning that the median price was 5 per cent higher than in June 2016.
  • Finally, the median price of single-family homes grew by 9 per cent to reach $328,000.


“Price increases have been accelerating in the Montréal area for a few months now. The growth in the median price of single-family homes has just reached its highest rate since December 2010,” added Mr. Cousineau.

Number of properties for sale

The number of residential properties listed on the real estate brokers’ Centris®system (25,763) decreased by 14 per cent compared to June of last year.












For more information, please visit www.homepriceindex.ca.

Record Sales in May on Montréal’s Residential Real Estate Market

L'Île-des-Sœurs, June 6, 2017 - The Greater Montréal Real Estate Board (GMREB) has just released its most recent residential real estate market statistics for the Montréal Census Metropolitan Area (CMA), based on the real estate brokers’ Centris® provincial database. In total, 5,057 residential sales were concluded in May 2017, a 15 per cent increase compared to May of last year and a new sales record for a month of May.

“This was an exceptional month of May on Montréal’s residential real estate market,” said Mathieu Cousineau, President of the GMREB Board of Directors. “Sales surpassed the previous peak for a month of May, which dates back to 2007,” added Mr. Cousineau.

Sales by geographic area
  • All five main areas of the Montréal CMA registered an increase in sales in May. However, the areas of Vaudreuil-Soulanges and the Island of Montréal clearly stood out with respective sales increases of 25 and 22 per cent.
  • The North Shore and Laval were also quite active, as sales rose by 14 per cent and 11 per cent, respectively.
  • Finally, the South Shore registered a more modest sales increase of 4 per cent compared to May of last year.
Sales by property category
  • Condominium sales registered an impressive increase of 24 per cent across the Montréal CMA, with 1,637 transactions.
  • Plexes (467 transactions) also turned in an excellent performance, with a 19 per cent jump in sales.
  • Single-family homes, whose sales grew by 10 per cent in May, remain the most in demand property category, as 2,950 transactions were concluded.

Prices
  • The median price of single-family homes stood at $319,000 in May in the Montréal CMA. This was a 6 per cent increase compared to May 2016.
  • Condominiums registered much more sluggish price growth, as the median price of this property category rose by only 1 per cent to reach $243,000.
  • As for plexes, half of all transactions were concluded at a price higher than $480,000, which is up 5 per cent compared to May of last year.

Number of properties for sale

The number of residential properties listed on the real estate brokers’ Centris®system (28,137) decreased for a 20th consecutive month, falling by 15 per cent compared to May 2016.












For more information, please visit www.homepriceindex.ca.

The Real Estate Board Invites Montréal's Elected Officials to Consider Certain Factors Before Imposing a 15 Per Cent Tax on Foreign Buyers

L’Île-des-Sœurs, May 15, 2017 - The Greater Montréal Real Estate Board (GMREB) invites elected Montréal officials to consider certain factors before imposing a 15 per cent tax on foreign buyers. The proportion of foreign buyers is quite different in Montréal compared to Toronto and Vancouver. Furthermore, the Montréal real estate market is not in an overheated situation.

“Looking at the dwelling vacancy rate, the pace of price growth, the number of months of inventory, as well as the available data on the percentage of foreign buyers, there is nothing to suggest that there is a situation in Montréal that requires a quick response,” states Mathieu Cousineau, Chairman of the GMREB Board of Directors. “However, we do believe that there is an urgent need to put in place the means to effectively identify property purchases by foreign nationals. This will enable us to monitor the evolving situation and make informed decisions,” added Mr. Cousineau.

The number of foreign buyers in the market

The Canada Mortgage and Housing Corporation (CMHC) has estimated that the share of foreign buyers in the entire Montréal metropolitan area for all property categories is only 1.5 per cent. Although this figure may be underestimated, the proportion is nevertheless low. In comparison, the proportion of foreign buyers in the Vancouver area has been estimated at 9.7 per cent by the Government of British Columbia and 4.9 per cent in Toronto by the Toronto Real Estate Board.

Overall, foreign buyers still have little impact on property prices in Greater Montréal. According to our brokers in the field, foreign buyers are present primarily in more well-off markets such as Ville Mont-Royal and Westmount. To a lesser extent, they are present in the West Island and Brossard single-family home markets, as well as in the Downtown, Griffintown, and to a lesser extent, Île-des-Sœurs condominium markets.

It is important not to lump all foreign buyers together. A distinction must be made between foreign investors who buy properties for speculation and foreign buyers who establish their principal residence here.

More and more immigrants are choosing Montréal as their destination, largely due to the quality of life, the favourable economic conditions and the low cost of living. They are not only an integral part of the new boom taking place in Québec's largest city but their contribution is also essential to our future demographic growth. However, while the latest statistics on net migration clearly show that this category of foreign buyers is increasingly present, there is no evidence that speculative buying of properties by foreign investors is a common phenomenon here, such as is probably the case in Vancouver and Toronto.

Urgent need of an accurate picture of foreign buyers in the market

It is currently difficult to obtain a clear picture of the situation of foreign buyers in the Montréal real estate market.

It should be noted that in the last federal budget, the government proposed addressing these gaps by providing Statistics Canada with $39.9 million over five years to develop and implement the Housing Statistics Framework (HSF). The HSF builds on the Government's commitment in the 2016 budget to develop methods for gathering data on foreign homebuyer activity.

There are various actions that could be considered to respond to the situation. For instance, since June 10, 2016, the Government of British Columbia has been tracking property purchases by foreigner buyers using property transfer tax forms. Similarly, in Québec, when registering a transaction in the land register, buyers might be required to note if they are a Canadian citizen or not (in which case, it would then be necessary to identify if they have permanent resident status or not).

Price growth

Residential property price increases have been modest in recent years in the Montréal metropolitan area. The market is far from a housing shortage, whether it be the resale, new construction or rental markets. During the period from 2012 to 2016, the annual price growth never exceeded 4 per cent.

This pace has picked up somewhat this year with median prices for single-family homes and condominiums increasing by 6 per cent and 3 per cent, compared with the first four months of 2016. The Montréal real estate market remains very affordable when compared with most major cities in North America, with a median price of $304,000 for single-family homes and $240,000 for condominiums. In this context, it is difficult to foresee a surge in prices similar to what Toronto has experienced.

Vacancy rate

According to the CMHC, the rental vacancy rate in Montréal is not a concern, as it was still relatively high at 3.9 per cent in October 2016. By comparison, during this same period, the vacancy rate was 1.3 per cent in Toronto and 0.7 per cent in Vancouver.

Number of months of inventory

The Montréal resale market is characterized by a much higher number of months of inventory than the cities of Vancouver and Toronto, where there is a marked imbalance between supply and demand. The situation is different here with overall market conditions being relatively balanced. We have just returned to a seller's market for single-family homes, while the condominium market still shows a small surplus.

Montréal’s Residential Real Estate Market: Most Active Month of April Since 2012

L'Île-des-Sœurs, May 4, 2017 - The Greater Montréal Real Estate Board (GMREB) has just released its most recent residential real estate market statistics for the Montréal Census Metropolitan Area (CMA), based on the real estate brokers’ Centris® provincial database. In total, 4,798 residential sales were concluded in April 2017, a 1 per cent increase compared to April of last year. This was the most active month of April since 2012.

Sales by geographic area
  • Two of the five main areas of the Montréal CMA registered an increase in sales in April: Vaudreuil-Soulanges (+29 per cent) and the South Shore (+3 per cent).
  • Sales were unchanged on the Island of Montréal, and decreased slightly in Laval (-3 per cent) and on the North Shore (-2 per cent).
Sales by property category
  • Condominiums were the only property category to register an increase in sales in April, as the number of condo transactions rose by 9 per cent.
  • Sales of single-family homes (-3 per cent) and plexes (-1 per cent) posted slight decreases.

Prices
  • Condominiums and plexes registered moderate price increases. The median price of plexes reached $488,000, a 4 per cent increase compared to April of last year, while that of condominiums stood at $240,000, a 2 per cent increase.
  • The median price of single-family homes rose by 7 per cent compared to April 2016, to reach $309,000. This was the largest increase since July 2011.

“Price increases were more sustained for single-family homes, as market conditions for this property category once again give sellers the upper hand,” said Mathieu Cousineau, President of the GMREB Board of Directors. “The number of active listings has dropped significantly over the past year for single-family homes, which helped create a certain rarity,” added Mr. Cousineau.


Number of properties for sale


The downward trend in the supply of properties for sale continued in April, as the number of residential properties listed on the real estate brokers’ Centris®system (29,519) fell by 14 per cent compared to April of last year.












For more information, please visit www.homepriceindex.ca.

Mathieu Cousineau Elected President of the Board of Directors of the Greater Montréal Real Estate Board

L’Île-des-Sœurs, April 25, 2017 - The Greater Montréal Real Estate Board (GMREB) is pleased to announce that Mathieu Cousineau has been elected President of the Board of Directors. Managing Director of Groupe Sutton Synergie, he has close to 15 years of real estate experience, including 11 years as a real estate broker and 4 years as an agency executive officer. He is in his second term on the GMREB Board of Directors, where he has served on several committees and Boards of Directors of the GMREB and its subsidiaries.

Mathieu Cousineau has acquired solid experience related to the presidency of a Board. In fact, he has been the President of the Board of Directors of the Collège de l'immobilier du Québec since 2015. He also held the position of Treasurer of the GMREB Board of Directors since 2015 and of Centris® since its creation.


Best Month of March in Five Years on Montréal’s Residential Real Estate Market

L'Île-des-Sœurs, April 6, 2017 - The Greater Montréal Real Estate Board (GMREB) has just released its most recent residential real estate market statistics for the Montréal Census Metropolitan Area (CMA), based on the real estate brokers’ Centris®provincial database. In total, 5,159 residential sales were concluded in March 2017, a 10 per cent increase compared to March of last year. This was the most active month of March since 2012.

“Some first-time buyers purchased their home a bit sooner, wanting to get in before the cost of mortgage loan insurance increased on March 17,” said Daniel Dagenais, President of the GMREB Board of Directors. “This may have slightly inflated the results for March, but the sustained increase in sales in the higher price ranges shows that it is mostly experienced buyers who are setting the tone,” he added.

Sales by geographic area
  • All of the main areas of the Montréal CMA registered an increase in sales in March. The largest increases were in Vaudreuil-Soulanges (+16 per cent) and on the North Shore (+15 per cent).
  • The other geographic areas were not too far behind, as sales rose by 9 per cent on the Island of Montréal, by 7 per cent in Laval and by 6 per cent on the South Shore.


Sales by property category
  • As was the case in the first two months of the year, condominium sales (1,651 transactions) took the lead in March, jumping by 15 per cent.
  • Sales of single-family homes increased by 9 per cent (3,080 transactions), while sales of small rental properties with 2 to 5 dwellings (plexes) fell slightly by 3 per cent (425 transactions).

Prices
  • The median price of single-family homes and condominiums has increased steadily over the past year. Across the Montréal CMA, the median price of single-family homes stood at $305,000 in March 2017, a 6 per cent increase compared to one year earlier. As for condominiums, the increase was 5 per cent, to reach a median price of $243,232.
  • In contrast, the median price of plexes decreased slightly (-3 per cent) to reach $456,000.

Number of properties for sale


The number of residential properties in the Montréal CMA listed on the real estate brokers’ Centris® system (30,285) decreased by 14 per cent in March. While market conditions favour sellers for single-family homes, they favour buyers for condominiums and are balanced for plexes.












For more information, please visit www.homepriceindex.ca.

2017 Federal Budget: GMREB Laments Absence of Concrete Measures Regarding Homeownership and the Modernization of the Home Buyers’ Plan (HBP)

L'Île-des-Sœurs, March 23, 2017 – The Greater Montréal Real Estate Board (GMREB) read the federal budget tabled yesterday by Finance Minister Bill Morneau. The GMREB would have liked to see more concrete commitments regarding tax measures relating to housing, in particular to improve the Home Buyers' Plan (HBP). “We wanted some aspects of the HBP to be modernized,” said Daniel Dagenais, President of the GMREB Board of Directors. “There is no clear commitment from the government regarding the HBP, particularly in terms of an increase in eligible amounts or in terms of using the HBP during significant life changes, as promised in the Liberal Party’s platform for the October 2015 election. In 1992, the maximum eligible amount of $20,000 represented more than 13 per cent of the average property price in Canada, whereas today, the eligible amount of $25,000, increased in 2009, represents barely 5 per cent of the average property price,” he added.

In addition, the GMREB underscores the lack of measures to encourage first-time buyers who are affected by recent mortgage tightening measures. According to the Québec Federation of Real Estate Boards, approximately 30,000 Centris® transactions can be attributed to first-time buyers every year in Québec. The GMREB stresses that Québec’s homeownership rate still lags far behind that of Canada’s other provinces. The implementation of concrete measures could help to close this gap.

However, the GMREB welcomes the creation of the inclusive National Housing Strategy and a national database on real estate transactions. Investments to improve the collection and analysis of real estate data and the development of new research methods on real estate will help to differentiate provincial markets and realities for better decision-making.

About the Greater Montréal Real Estate Board

The Greater Montréal Real Estate Board is a non-profit organization with more than 9,000 members: real estate brokers. Its mission is to actively promote and protect its members’ professional and business interests in order for them to successfully meet their business objectives.

About Centris®

Centris.ca is Québec’s real estate industry website for consumers, grouping all properties for sale by a real estate broker – more than 90,000 – under the same address. Centris® , a division of the Greater Montréal Real Estate Board, offers technology resources exclusively to Québec’s 12 real estate boards and their 13,000 real estate brokers.

Montréal Residential Real Estate Market: Solid Performance of High-End Sales in February

L'Île-des-Sœurs, February 6, 2017 - The Greater Montréal Real Estate Board (GMREB) has just released its most recent residential real estate market statistics for the Montréal Census Metropolitan Area (CMA), based on the real estate brokers’ Centris®provincial database. In total, 3,788 residential sales were concluded in February 2017, an increase of 2 per cent compared to February 2016 and the eighth consecutive monthly increase. .

Change in sales by region
  • The Island of Montréal saw the number of transactions grow by 7 per cent in February. This is the largest increase in activity among the five main areas of the metropolitan area. As for Laval, it registered a 3 per cent increase.
  • Residential sales on the North Shore remained at status quo in February, while the South Shore and Vaudreuil-Soulanges experienced respective sales decreases of 3 per cent and 5 per cent.


“The high-end market performed well across the metropolitan area with a 19 per cent jump in sales of properties over $500,000 compared to the same period last year,” said Daniel Dagenais, President of the GMREB Board of Directors. “However, a 6 per cent decrease in activity was observed in the price range below $300,000,” he added.

Sales by property category
  • Similarly to January, it was condominium sales that registered the strongest growth in the Montréal CMA in February, jumping by 11 per cent.
  • Sales of small rental properties containing two to five dwellings (plexes) posted a more modest 3 per cent increase.
  • For the second consecutive month, single-family homes had to settle for a drop in sales – this time it was 3 per cent.

Prices
  • The median price of single-family homes reached $296,662 in February across the metropolitan region, an increase of 4 per cent relative to the same month in 2016.
  • As for condominiums, the median price increased by 5 per cent in February to $238,900. This has been the strongest price growth since September 2015.
  • Plexes registered a 6 per cent increase with a median price reaching $475,000.
Number of properties for sale

For the seventeenth consecutive month, the number of properties for sale on the real estate brokers’ Centris® system fell, with 13 per cent fewer active listings than February 2016.












For more information, please visit www.homepriceindex.ca.

Good Start to 2017 for Montréal’s Residential Real Estate Market

L'Île-des-Sœurs, February 6, 2017 - The Greater Montréal Real Estate Board (GMREB) has just released its most recent residential real estate market statistics for the Montréal Census Metropolitan Area (CMA), based on the real estate brokers’ Centris® provincial database. In total, 2,244 residential sales were concluded in January 2017, a 5 per cent increase compared to January of last year. This was the most active month of January since 2012.

“January’s sales increase can be largely attributed to the number of condominium transactions, which jumped by 21 per cent compared to January of last year,” said Daniel Dagenais, President of the GMREB Board of Directors. “What’s more, condominium sales increased in all geographic areas and in all price ranges,” added Mr. Dagenais.

Sales by geographic area
  • For all property categories combined, January’s results show an increase in residential sales in the areas of Vaudreuil-Soulanges (+18 per cent), the Island of Montréal (+10 per cent) and the North Shore (+2 per cent).
  • Sales in the areas of Laval and the South Shore were unchanged compared to January of last year.
Sales by property category
  • Condominium sales in January 2017 were robust, jumping by 21 per cent, while sales of plexes (2 to 5 dwellings) grew by 6 per cent. In contrast, single-family home sales in the Montréal CMA fell slightly by 3 per cent.

Prices
  • In terms of price growth, single-family homes led the way with a 6 per cent increase in median price ($297,389) across the CMA.
  • The median price of plexes ($460,000) increased by 5 per cent.
  • As for condominiums, their median price was flat as compared to January 2016, with half of all units selling for more than $240,000.
Number of properties for sale

The number of properties for sale (28,280 active listings), all property categories combined, dropped by 14 per cent in January across the Montréal CMA. This was the sixteenth consecutive monthly decrease.












For more information, please visit www.homepriceindex.ca.

Improvement in the Montréal Area Residential Real Estate Market in 2016

L'Île-des-Sœurs, January 17, 2017 – The Greater Montréal Real Estate Board (GMREB) has released its most recent residential real estate market statistics for the Montréal Census Metropolitan Area (CMA), based on the real estate brokers’ Centris® s® provincial database. In total, 78,231 sales were concluded in 2016, a 6 per cent increase compared to 2015.

Click here to see the main statistics for the Montréal Metropolitan Area’s residential real estate market.Here are the highlights for 2016.

Here are the highlights for 2016.

Sales

  • All three property categories registered an increase in sales in 2016. Condominiums and plexes (2 to 5 dwellings) registered the largest increases, at 8 per cent and 7 per cent, respectively,while single-family home sales grew by 4 per cent.
  • All five of the main geographic areas posted sales increases: 8 per cent in Vaudreuil-Soulanges, 7 per cent on the South Shore, 6 per cent on the Island of Montréal, 4 per cent on the North Shore and 2 per cent in Laval.
  • It was a very good year for high-end properties, as transactions concluded at more than$500,000 increased by 20 per cent in 2016.


Prices

  • Price increases in the Montréal CMA were relatively modest in 2016, as the increase in median price of single-family homes did not exceed the 3 per cent mark for a fifth consecutive year.
  • The median price of single-family homes, condominiums and plexes across the CMA stoodrespectively at $295,000 (+2 per cent), $240,000 (+1 per cent) and $460,000 (+3 per cent).
  • Generally speaking, prices rose more steadily on the Island of Montréal. The median price ofsingle-family homes rose by 5 per cent to reach $415,000, while that of condominiums grew by3 per cent to reach $285,000.

“Due to the increase in sales, combined with the decrease in active listings, market conditions became tighter for all property categories in 2016,” said Daniel Dagenais, President of the Board of Directors of the Greater Montréal Real Estate Board and spokesperson for the Québec Federation of Real Estate Boards (QFREB) for the Montréal area. “Only the condominium market continues to be slightly in buyers’ territory, but the excess supply has been somewhat reabsorbed in recent months so that we’re moving closer to a balanced market,” added Mr. Dagenais.

Finally, the year ended on a high note, as the number of transactions (8,550) increased by 7 per cent in thefourth quarter.

A good end to 2016
  • The year 2016 ended on a high note as 16,623 transactions were concluded in Québec in the fourth quarter of the year, a 6 per cent rise compared to the fourth quarter of 2015.
  • The Saguenay and Sherbrooke CMAs particularly stood out at the end of the year, as both of these areas registered an 11 per cent increase in residential sales.


Centris® Residential Sales Statistics – December 2016

L'Île-des-Sœurs, January 6, 2017 - The Greater Montréal Real Estate Board (GMREB) has just released its most recent residential real estate market statistics for the Montréal Census Metropolitan Area (CMA), based on the real estate brokers' Centris® provincial database. In total, 2,476 residential sales were concluded in December 2016, a 3 per cent increase compared to December of last year. This was the 21st increase in sales in the past 22 months and the best sales result for a month of December since 2011.
"Like November's results, December's results also registered a sharp increase (32 per cent) in property sales of $500,000 or more," said Daniel Dagenais, President of the GMREB Board of Directors. "On the other hand, there was a 10 per cent decrease in sales in the price range of $200,000 to $300,000, which is perhaps a first sign of the effects of the most recent mortgage tightening measures," added Mr. Dagenais.

Sales by geographic area
  • December's results vary greatly from one geographic area to another, with sales ranging from +28 per cent in Vaudreuil-Soulanges to -16 per cent in Laval.
  • The North Shore and the Island of Montréal also registered sales increases of 11 per cent and 7 per cent, respectively.
  • However, sales fell by 5 per cent on the South Shore in December. This was only the third decrease in sales on the South Shore in the past 25 months.

Sales by property category
  • While sales were relatively stable for single-family homes (+1 per cent) and condominiums (0 per cent), sales of plexes (2 to 5 dwellings) jumped by 21 per cent in December.

Prices
  • The median price of single-family homes and condominiums rose by 2 per cent compared to December of last year to reach $300,000 and $245,000, respectively, across the Montréal CMA.
  • The increase in the median price of plexes was more sustained, at 4 per cent, as half of all plexes sold for more than $470,000.

Number of properties for sale For a fifteenth consecutive month, the supply of properties for sale shrank in the Montréal CMA. The 25,672 active listings on the real estate brokers' Centris® system represents a 13 per cent decrease compared to December of last year. “The decline in inventory means that we are returning to a balanced market, which is a positive sign,” said Mr. Dagenais.




An Active Month of November on Montréal's Residential Real Estate

L'Île-des-Sœurs, December 6, 2016 - The Greater Montréal Real Estate Board (GMREB) has just released its most recent residential real estate market statistics for the Montréal Census Metropolitan Area (CMA), based on the real estate brokers' Centris® provincial database. In total, 3,008 residential sales were concluded in November 2016, a 9 per cent increase compared to November of last year. This was the 20th increase in sales in the past 21 months and the best sales result for a month of November since 2011.
Sales by geographic area
  • Four out of five main areas of the Montréal CMA registered strong sales increases in November: Laval (+19 per cent), the Island of Montréal (+14 per cent), Vaudreuil-Soulanges (+14 per cent) and the South Shore (+11 per cent).
  • In contrast, the North Shore posted a 6 per cent decrease in sales compared to November of 2015.

Sales by property category
  • Sales of condominiums and plexes rose by 13 per cent and 15 per cent, respectively, in November.
  • Sales of single-family homes also stood their ground, increasing by 6 per cent.

Prices
  • The median price of single-family homes across the Montréal CMA rose by 6 per cent in November 2016 compared to November of last year, to reach 308,250. This increase can be primarily attributed to the Island of Montréal, where the median price of single-family homes jumped by 15 per cent.
  • Half of all condominiums sold for more than 248,000$, which represents a 4 per cent increase in median price.
  • Finally, the median price of plexes (2 to 5 dwelling) grew by 1 per cent to reach 460,000$.

“The solid results in November, in terms of both sales increases and price increases, can be explained by a strong presence of experienced buyers on the real estate market. These buyers, who are generally more active in the market during the fall, are well-positioned to conclude transactions despite the mortgage tightening measures announced in October,” said Daniel Dagenais, President of the GMREB Board of Directors. “More specifically, there was a 35% increase in sales of single-family homes at 500,000$ or more in November throughout the Montréal area. We will be closely monitoring the impact of the new mortgage measures on the market in the coming months,” added Mr. Dagenais.
Number of properties for sale
For a fourteenth consecutive month, the supply of properties for sale shrank in the Montréal CMA, with 28,720 residential listings on the real estate brokers' Centris® system.





Best Month of October in Seven Years on Montréal's Residential Real Estate Market

L'Île-des-Sœurs, November 4, 2016 - The Greater Montréal Real Estate Board (GMREB) has just released its most recent residential real estate market statistics for the Montréal Census Metropolitan Area (CMA), based on the real estate brokers' Centris® provincial database. In total, 3,083 residential sales were concluded in October 2016, an 8 per cent increase compared to October of last year. This was the 19th increase in sales in the past 20 months and the best sales result for a month of October since 2009.
Sales by geographic area
  • All five main areas of the Montréal CMA contributed to the sales increase in October.
  • Vaudreuil-Soulanges registered the largest increase in sales, as the number of transactions jumped by 45 per cent.
  • The South Shore (+10 per cent), the Island of Montréal (+6 per cent), the North Shore (+6 per cent) and Laval (+6 per cent) also registered an increase in sales compared to October of last year.

Sales by property category
  • Sales of condominiums and plexes rose by 13 per cent and 12 per cent, respectively, while sales of single-family homes registered a more modest increase of 5 per cent.

Prices
  • The median price of single-family homes across the Montréal CMA posted a slight increase of 1 per cent compared to October 2015, to reach 302,500$.
  • Half of all condominiums sold for more than 245,000$, which represents a 2 per cent increase in median price.
  • Finally, after registering a 7 per cent increase last month, the median price of plexes with 2 to 5 dwellings increased by only 1 per cent to reach 460,000$.

“October's results are in line with the trend that has been observed since the start of the year,” said Daniel Dagenais, President of the GMREB Board of Directors. “It's too early to see an impact resulting from the new mortgage rules that came into force in the middle of the month. On the one hand, it's important to know that the promise to purchase is normally accepted a few days prior to the sale being registered. On the other hand, the time between the announcement of the new rules (October 3) and their implementation (October 17) did not give buyers enough time to advance their purchase in order to avoid being subject to the new rules,” added Mr. Dagenais.
Number of properties for sale
With 28,736 listings on the real estate brokers' Centris® system, the supply of properties for sale shrank for a thirteenth consecutive month. This result represents a 13 per cent drop year over year and the largest decrease since the downward trend began last fall.





Sales Growth Continues in September on Montréal's Residential Real Estate Market

L'Île-des-Sœurs, October 6, 2016 -  The Greater Montréal Real Estate Board (GMREB) has just released its most recent residential real estate market statistics for the Montréal Census Metropolitan Area (CMA), based on the real estate brokers' Centris® provincial database. In total, 2,757 residential sales were concluded in September 2016, a 4 per cent increase compared to September of last year. This was the 18th increase in sales in the past 19 months.
Sales by geographic area
  • The Island of Montréal registered the largest increase in sales in September, with an 8 per cent jump in the number of transactions.
  • The North Shore and South Shore also registered sales increases of 4 per cent and 3 per cent, respectively.
  • In contrast, sales decreased in Laval (-7 per cent) for a fourth consecutive month, and in Vaudreuil-Soulanges (-5 per cent).

Sales by property category
  • Single-family homes and condominiums contributed to the increase in sales in September with respective increases of 4 per cent and 9 per cent, while plex sales fell by 9 per cent compared to one year earlier.

Prices
  • The median price of single-family homes across the Montréal CMA rose by 4 per cent compared to September of last year, reaching $304,000.
  • Half of all condominiums sold for more than $250,000, which represents a slight increase of 1 per cent in median price.
  • Finally, after sitting at a standstill for the past two months, the median price of plexes with 2 to 5 dwellings rose by 7 per cent to reach $451,500.

“Sales have intensified on the Montréal area resale market in recent months and, at the same time, there has been a downward trend in the number of active listings,” said Daniel Dagenais, President of the GMREB Board of Directors. “In fact, for a twelfth consecutive month, the supply of properties for sale has shrunk, as the 28,552 listings on the real estate brokers' Centris® system in September represents a 12 per cent drop compared to September of last year. Despite these facts, price increases have remained moderate. Cumulatively for 2016, median prices have increased by 2 per cent, 1 per cent and 4 per cent, respectively, for single-family homes, condominiums and plexes,” added Mr. Dagenais.



Montréal Area Real Estate Market Holds Strong in August

L'Île-des-Sœurs, September 6, 2016 -  The Greater Montréal Real Estate Board (GMREB) has just released its most recent residential real estate market statistics for the Montréal Census Metropolitan Area (CMA), based on the real estate brokers' Centris® provincial database. In total, 2,699 residential sales were concluded in August 2016, a 13 per cent increase compared to August of last year. This was the 17th increase in sales in the past 18 months.

Sales by geographic area
  • In August, strong sales increases were registered in the areas of Vaudreuil-Soulanges (+24 per cent) and the South Shore (+18 per cent).
  • The Island of Montréal and the North Shore also performed well, registering respective sales increases of 13 and 12 per cent.
  • Laval registered a small decrease in sales (-2 per cent) for a third consecutive month.

Sales by property category
  • All three property categories contributed to the increase in sales in August: condominium sales jumped by 15 per cent, single-family home sales grew by 12 per cent and plex sales increased by 10 per cent.

Prices
  • The median price of single-family homes across the Montréal CMA rose by 6 per cent compared to August of last year, reaching $307,250. This was the largest increase in almost five years.
  • Half of all condominiums sold for more than $250,000, corresponding to a 4 per cent increase in median price.
  • Finally, for a second consecutive month, the median price of plexes (2 to 5 dwellings) remained unchanged at $459,000.

Number of properties for sale
For an eleventh consecutive month, the supply of properties for sale continued to fall. The 28,142 listings in the Montréal CMA on the real estate brokers' Centris®system represent a 13 per cent decrease compared to August of last year.
“Market conditions are gradually tightening in the Montréal area,” said Daniel Dagenais, President of the GMREB Board of Directors. “Only condominiums are still showing a surplus of inventory, which gives buyers a slight upper hand in negotiations,” added Mr. Dagenais.



Residential Sales in Montréal Grow by 3 Per Cent in July

L'Île-des-Sœurs, August 4, 2016 -  The Greater Montréal Real Estate Board (GMREB) has just released its most recent residential real estate market statistics for the Montréal Census Metropolitan Area (CMA), based on the real estate brokers' Centris® provincial database. In total, 2,685 residential sales were concluded in July 2016, which is a 3 per cent increase compared to July of last year.
Sales by geographic area
  • The largest increases in sales were on the South Shore (578 transactions) and on the Island of Montréal (1,161 transactions), with increases of 7 per cent and 5 per cent, respectively, compared to July 2015.
  • The North Shore (543 transactions) registered a 1 per cent increase in sales.
  • In contrast, sales fell by 5 per cent and 4 per cent, respectively, in Vaudreuil-Soulanges (134 transactions) and Laval (269 transactions). In both of these cases, this was the second consecutive drop in sales.

Sales by property category
  • Sales of plexes (2 to 5 dwellings) and condominiums performed well in July, thanks to respective increases of 13 per cent and 11 per cent throughout the Montréal CMA.
  • Sales of single-family homes decreased for the first time in 18 months, meaning since January 2015, falling by 3 per cent (1,526 transactions).
Prices
  • The median price of single-family homes throughout the Montréal CMA increased by 3 per cent compared to July of last year to reach $300,000.
  • The median price of condominiums grew by 2 per cent compared to one year earlier, as half of all condominiums sold for a price higher than $250,000.
  • Finally, the median price of plexes remained unchanged at $455,000.

“Although the condominium resale market still gives buyers the upper hand (13.4 months of inventory), the surplus of inventory is gradually becoming absorbed,” said Daniel Dagenais, President of the GMREB Board of Directors. “Market conditions for single-family homes and plexes have already been balanced for several months now,” he added.
Number of properties for sale
The downward trend in the number of active listings on the real estate brokers' Centris® system continued for a tenth consecutive month, sitting at 11 per cent in July.



Montréal Area Real Estate Market Remains Stable in June

L'Île-des-Sœurs, July 7, 2016 -  The Greater Montréal Real Estate Board (GMREB) has just released its most recent residential real estate market statistics for the Montréal Census Metropolitan Area (CMA), based on the real estate brokers' Centris® provincial database. In total, 3,620 residential sales were concluded in June 2016, which is unchanged (0 per cent) compared to June of last year. This put an end to a series of 15 consecutive monthly increases in sales (March 2015 to May 2016) in the Montréal area.

Sales by geographic area
  • The number of sales on the Island of Montréal (-1 per cent) and on the North Shore (0 per cent) was similar to the number registered in June of last year, with 1,457 and 821 transactions, respectively.
  • In Laval (357 transactions) and in Vaudreuil-Soulanges (168 transactions), sales fell by 5 per cent and 15 per cent, respectively, compared to June 2015.
  • In contrast, sales jumped by 10 per cent on the South Shore, where 817 properties changed hands in June 2016 on the real estate brokers' Centris® system.

Sales by property category
  • Thanks to a 1 per cent increase in June, sales of single-family homes continued their upward trend for a 16th consecutive month in the Montréal CMA.
  • Plexes also performed well, posting a 5 per cent increase in sales across the CMA. Sales of these small rental properties with 2 to 5 dwellings were particularly strong on the Island of Montréal, where they rose by 7 per cent.
  • Condominium sales decreased by 2 per cent across the CMA, with 1,073 units being sold. This was the first drop in condominium sales in 11 months.

Prices
  • The median price of single-family homes throughout the Montréal CMA increased by 2 per cent compared to June of last year to reach $300,000.
  • The median price of condominiums also grew by 2 per cent compared to one year earlier, as half of all condominiums sold for a price higher than $245,000.
  • Finally, plexes registered the largest price increase, at 5 per cent, with a median price of $457,527.

“A sure sign that Montréal's real estate market is very different than that of Toronto and Vancouver is the fact that price increases have remained quite modest in the Montréal area since the start of the year,” said Daniel Dagenais, President of the GMREB Board of Directors. “So far in 2016, the median price of condominiums has remained stable, while that of single-family homes has increased by only 1 per cent. In contrast, however, the median price of plexes has increased by 4 per cent in the first six months of the year,” he added. 

Number of properties for sale

The downward trend in the number of active listings on the real estate brokers' Centris®system continued for a ninth consecutive month, sitting at 11 per cent in June.







Prices Increase and Supply Decreases on the Montréal Area Condominium Market in May

L'Île-des-Sœurs, June 6, 2016 - The Greater Montréal Real Estate Board (GMREB) has just released its most recent residential real estate market statistics for the Montréal Census Metropolitan Area (CMA), based on the real estate brokers' Centris® provincial database. In total, 4,416 residential sales were concluded in May 2016, a 2 per cent increase compared to May 2015 and the 15th consecutive monthly increase in sales.
Sales by geographic area
  • The South Shore registered the largest increase in sales (+9 per cent) in May. More moderate increases were observed in Laval (+4 per cent) and on the North Shore (+1 per cent).
  • Sales activity was unchanged (0 per cent) in the area of Vaudreuil-Soulanges.
  • On the Island of Montréal, sales decreased for the first time in the past 16 months (-1 per cent).

Statistics by property category
  • Condominiums continued to post solid results as sales of this property category grew by 10 per cent across the CMA in May, thanks particularly to a 17 per cent increase on the South Shore.
  • In contrast, sales of plexes (2 to 5 dwellings) fell by 13 per cent.
  • Sales of single-family homes across the CMA increased slightly by 1 per cent.

Prices
  • The median price of single-family homes throughout the Montréal CMA increased by 3 per cent compared to May of last year to reach $301,250.
  • After two consecutive months of sustained increases, the median price of plexes ($454,350) remained unchanged in May compared to the same period last year.
  • The median price of condominiums also remained unchanged (0%), as half of all condos sold for a price higher than $240,000.

Number of properties for sale
The number of active listings on the real estate brokers' Centris®system continued its downward trend that began eight months ago. In fact, the 10 per cent decrease registered in May was the largest in the past eight months.
“With the third consecutive monthly decrease in the number of condos for sale, the drop in supply is now confirmed,” said Daniel Dagenais, President of the GMREB Board of Directors. “The supply of condos for sale now represents 13.6 months of sales, a sign that market conditions are tightening,” he added.



Montréal Area Residential Real Estate Market: Condominiums Performed Well in April

L'Île-des-Sœurs, May 5, 2016 - The Greater Montréal Real Estate Board (GMREB) has just released its most recent residential real estate market statistics for the Montréal Census Metropolitan Area (CMA), based on the real estate brokers' Centris® provincial database. In total, 4,798 residential sales were concluded in April 2016, a 3 per cent increase compared to April 2015 and the 14th consecutive monthly increase in sales.

Sales by geographic area
  • There were significant variations in sales results in the different areas of the Montréal CMA in April: Laval and the Island of Montréal were very dynamic with sales increases of 10 per cent and 8 per cent respectively, while the North Shore (-1 per cent), the South Shore (-2 per cent) and Vaudreuil-Soulanges (-9 per cent) registered their first monthly decrease in sales since the start of 2016.
  • The Island of Montréal registered its most active month of April in six years.

Statistics by property category
  • Condominiums continued to post solid results, as sales of this property category grew by 7 per cent in April thanks particularly to an 11 per cent increase on the Island of Montréal.
  • The number of single-family and plex transactions registered respective increases of 1 and 4 per cent.

Prices
  • The median price of single-family homes throughout the Montréal CMA stood at $290,000 in April. This represents a 1 per cent increase compared to April of last year.
  • For a second consecutive month, the median price of plexes registered a significant increase, rising by 6 per cent to reach $469,000.
  • The median price of condominiums ($235,000) rebounded in April, registering a 2 per cent increase. This follows two consecutive decreases in February (-2 per cent) and March (-1 per cent).

Number of properties for sale
For a seventh consecutive month, the number of properties for sale on the real estate brokers' Centris®system fell, with the number of active listings decreasing by 8 per cent compared to April 2015.
“Price growth remains moderate in the Montréal area, even though the supply of properties for sale is decreasing and sales are increasing steadily,” said Daniel Dagenais, President of the GMREB Board of Directors. “Cumulatively for the first four months of 2016, the median price of single-family homes increased by 1 per cent, while that of condominiums remained stable. This means that the Montréal CMA continues to be an affordable area for buyers,” he added.







Montréal Area Residential Real Estate Market: Upward Trend Continued in March

L'Île-des-Sœurs, April 6, 2016 - The Greater Montréal Real Estate Board (GMREB) has just released its most recent residential real estate market statistics for the Montréal Census Metropolitan Area (CMA), based on the real estate brokers' Centris® provincial database. In total, 4,725 residential sales were concluded in March 2016, a 6 per cent increase compared to March 2015 and the 13th consecutive monthly increase in sales.
Sales by geographic area
  • All five main areas of the Montréal CMA registered an increase in residential sales in March 2016.
  • For a second consecutive month, the Vaudreuil-Soulanges area held the top spot with a 23 per cent increase in sales compared to March of last year.
  • The Island of Montréal and the North Shore both registered a 6 per cent rise in sales, while more moderate growth was seen on the South Shore (+3 per cent) and in Laval (+2 per cent).

Statistics by property category
  • As was the case in February, plexes registered the largest growth in sales in the Montréal CMA in March, jumping by 23 per cent.
  • Condominium sales also fared well, growing by 10 per cent.
  • After several months of strong increases, sales of single-family homes increased by 2 per cent in March.

Prices
  • The median price of single-family homes across the CMA stood at $287,000 in March, a 1 per cent increase compared to March of last year.
  • The median price of plexes grew by 5 per cent to reach $467,500.
  • In contrast, the median price of condominiums ($231,600) fell by 1 per cent in March. This was the second consecutive decrease in the median price of condominiums.

Number of properties for sale
For a sixth consecutive month, the number of properties for sale on the real estate brokers' Centris® system fell, with the number of active listings decreasing by 7 per cent compared to March 2015.
“After the upward trend in active listings reversed last fall, it is now the average selling time that seems to be decreasing,” said Daniel Dagenais, President of the GMREB Board of Directors. In fact, the average selling time (99 days) for all property categories combined has registered its third decrease in the past four months, falling just below 100 days in the Montréal area.







Led by the South Shore, the Montréal real estate market continues its momentum

L'Île-des-Sœurs, March 7, 2016 - The Greater Montréal Real Estate Board (GMREB) has just released its most recent residential real estate market statistics for the Montréal Census Metropolitan Area (CMA), based on the real estate brokers' Centris® provincial database. In total, 3,743 residential sales were concluded in February 2016, an increase of 15 per cent compared to February 2015.
“Sales rose strongly early this year while active listings continued to fall, resulting in tighter market conditions,” said Daniel Dagenais, President of the GMREB Board of Directors. He added, “In February, single-family homes saw the greatest drop in supply with 8 per cent fewer homes for sale compared to February 2015.”
It was on the South Shore of Montréal that the market was the most active with sales in this area increasing by 20 per cent over the past three months.
Sales by geographic area
  • Each of the five main areas of the city posted an increase in home sales in February 2016.
  • It is Vaudreuil-Soulanges that experienced the greatest increase in sales with a 20 per cent jump compared to February 2015.
  • The South Shore, North Shore and Laval also experienced a February much more active than last year, posting a growth in sales of 19 per cent, 19 per cent and 15 per cent, respectively.
  • On the Island of Montréal, the number of transactions had a more moderate increase of 9 per cent compared to February 2015.

Statistics by property category
  • Throughout the Montréal CMA, plexes registered the highest growth in sales in February, up by 28 per cent.
  • Condominium sales increased by 16 per cent thanks to a big jump on the North Shore (35 per cent) and Laval (28 per cent).
  • The number of transactions of single-family homes also saw an increase in February, up by 13 per cent.

Prices
  • For the CMA as a whole, the median price of single-family homes reached $285,000, an increase of 2 per cent compared to February 2015.
  • The median price of condominiums decreased by 2 per cent to $226,000 across the CMA.
  • The median price of plexes grew by 4 per cent to reach $446,999.

Number of properties for sale
For the fifth consecutive month, the number of properties for sale on the real estate brokers' Centris® system fell, with the number of active listings decreasing by 5 per cent in February compared to last year.







Significant Increase in Residential Sales in Montréal in January

L'Île-des-Sœurs, February 4, 2016 - The Greater Montréal Real Estate Board (GMREB) has just released its most recent residential real estate market statistics for the Montréal Census Metropolitan Area (CMA), based on the real estate brokers' Centris® provincial database. In total, 2,153 residential sales were concluded in January 2016, a 12 per cent increase compared to January 2015.

«This was the eleventh consecutive increase in sales,» said Daniel Dagenais, President of the GMREB Board of Directors. «The last time we saw a similar streak was in 2009-2010,» he added.

Sales by geographic area
  • All five main areas of the Montréal CMA registered an increase in residential sales in January 2016.
  • Vaudreuil-Soulanges posted the largest increase, as sales jumped by 24 per cent compared to January 2015.
  • The South Shore and the Island of Montréal also registered a much more active month of January as compared to January of last year, with respective sales increases of 19 and 16 per cent.
  • In Laval and on the North Shore, the number of transactions increased more moderately, at 6 per cent and 1 per cent, respectively, compared to January 2015.

Statistics by property category
  • Sales of single-family homes registered the largest increase across the Montréal CMA, at 14 per cent.
  • Sales of condominiums increased by 10 per cent, thanks to a significant jump on the Island of Montréal (21 per cent).
  • Plex transactions also increased compared to January of last year, rising by 8 per cent.

Prices
  • The median price of single-family homes across the CMA stood at $280,000, a 1 per cent increase compared to January 2015. On the Island of Montréal, the median price of single-family homes jumped by 12 per cent to reach $412,600.
  • The median price of condominiums across the CMA rose by 3 per cent to reach $238,000.
  • The median price of plexes also grew by 3 per cent, reaching $441,250.


Number of properties for sale

For a fourth consecutive month, there was a decrease in the number of properties for sale on the real estate brokers' Centris® system, falling by 3 per cent in January.









Montréal Area Real Estate Market: 2015 Ends With an 11 Per Cent Increase in Sales in December

L'Île-des-Sœurs, January 7, 2016 - The Greater Montréal Real Estate Board (GMREB) has just released its most recent residential real estate market statistics for the Montréal Census Metropolitan Area (CMA), based on the real estate brokers' Centris® provincial database. In total, 2,430 residential sales were concluded in December 2015, an 11 per cent increase compared to December 2014. This was the tenth consecutive monthly increase in sales and the most active month of December in four years.

Sales by geographic area
  • The South Shore registered the largest increase in sales in December, jumping by 22 per cent compared to December 2014.
  • Laval and the Island of Montréal also enjoyed a more active month of December compared to December 2014, posting respective sales increases of 15 per cent and 12 per cent.
  • On the North Shore, the number of transactions remained stable compared to December 2014, while Vaudreuil-Soulanges registered a 12 per cent decrease in sales.

Statistics by property category
  • Condominium sales across the Montréal CMA rose by 14 per cent in December, the largest monthly increase in 2015.
  • Single-family home sales grew by 10 per cent, thanks to significant increases on the Island of Montréal (20 per cent) and on the South Shore (19 per cent).
  • Plex sales also increased, rising by 4 per cent compared to December 2014.

Prices
  • For the CMA as a whole, the median price of single-family homes reached $295,000, a 4 per cent increase compared to December 2014.
  • The median price of condominiums rose by 2 per cent to reach $240,000.
  • The increase in the median price of plexes ($450,000) was limited to only 1 per cent.


“The sustained increase in demand for single-family homes, coupled with the decrease in supply that we've seen in recent months, means that market conditions are once again starting to favour sellers in several neighbourhoods on the Island of Montréal,” said Daniel Dagenais, President of the GMREB Board of Directors.

Number of properties for sale

For a third consecutive month, there was a decrease in the number of properties for sale on the real estate brokers' Centris® system, falling by 3 per cent in December.









Best Month of November in Four Years on Montréal's Residential Real Estate Market

L'Île-des-Sœurs, December 4, 2015 - The Greater Montréal Real Estate Board (GMREB) has just released its most recent residential real estate market statistics for the Montréal Census Metropolitan Area (CMA), based on the real estate brokers' Centris® provincial database. In total, 2,779 residential sales were concluded in November 2015, an 8 per cent increase compared to November of last year. This was the ninth consecutive monthly increase in sales and the most active month of November in four years.

“After eleven months, cumulative results for the year show a 6 per cent increase in sales compared to the first eleven months of last year,” said Daniel Dagenais, President of the GMREB Board of Directors. “This means that, in 2015, we are on track to register the first annual increase in sales in five years on Montréal's residential real estate market,” he added.

Sales by geographic area
  • The North Shore registered a significant increase in sales in November 2015, jumping by 19 per cent compared to November of last year. This follows a 14 per cent sales increase in October.
  • All of the other geographic areas also registered increases in sales in November: 7 per cent on the Island of Montréal, 5 per cent in Laval, 3 per cent in Vaudreuil-Soulanges and 1 per cent on the South Shore.

Statistics by property category
  • Single-family home sales were very active in November with 1,607 transactions across the Montréal CMA, a 10 per cent increase compared to November of last year.
  • Condominium sales increased for a fourth consecutive month, growing by 6 per cent compared to November 2014.
  • After falling by 3 per cent in October, plex (2 to 5 dwellings) sales rebounded in November, increasing by 5 per cent.

Prices
  • For the Montréal CMA as a whole, the median price of single-family homes reached$300,000 for the first time ever, rising by 5 per cent compared to October of last year; this was the largest increase in the past 22 months.
  • For the Montréal CMA as a whole, the median price of single-family homes reached$289,900, a 2 per cent increase compared to November 2014.
  • Price increases were more sustained for condominiums and plexes. The median price of both these property categories grew by 4 per cent to reach$239,000 and$455,000, respectively.

Number of properties for sale

For a second consecutive month, the number of properties for sale on the real estate brokers' Centris® system fell by 2 per cent in November. In October, the decrease put an end to the upward trend in supply that had existed for more than five years.








Sales are Up, Inventory is Down on Montréal's Residential Real Estate Market

L'Île-des-Sœurs, November 5, 2015 - The Greater Montréal Real Estate Board (GMREB) has just released its most recent residential real estate market statistics for the Montréal Census Metropolitan Area (CMA), based on the real estate brokers' Centris® provincial database. In total, 2,665 residential sales were concluded in September 2015, a 5 per cent increase compared to September 2014. This was the seventh consecutive monthly increase in sales and the most active month of September in four years.

Sales by geographic area

  • The North Shore and South Shore both registered a significant increase in sales at 14 per cent.
  • The Island of Montréal continued to post solid results: after a 9 per cent increase in August and an 8 per cent increase in September, sales rose by 10 per cent in October.
  • Laval registered a slight drop in sales of 2 per cent, while the decrease was more pronounced in the Vaudreuil-Soulanges area (-15 per cent).

Statistics by property category
  • Condominium and single-family home sales were particularly strong in October, with respective increases of 11 and 10 per cent.
  • After two months of strong growth, plex sales fell by 3 per cent in October.

Prices
  • For the Montréal CMA as a whole, the median price of single-family homes reached$300,000 for the first time ever, rising by 5 per cent compared to October of last year; this was the largest increase in the past 22 months.
  • The median price of plexes stood at$454,500, a 1 per cent increase compared to October 2014.
  • The median price of condominiums ($240,000) registered its first decrease in 2015, falling by 3 per cent.


Number of properties for sale

“It's important to point out that October's data show that the supply of properties for sale in the Montréal area decreased for the first time in just over five years,” noted Sylvain Girard, Vice-President of the GMREB Board of Directors. The 33,014 properties listed on the Centris® system in October represent a 1 per cent decrease compared to the same month last year and the first drop in five years.







September 2015: Seventh Consecutive Increase in Residential Sales in the Montréal Area

L'Île-des-Sœurs, October 6, 2015 - The Greater Montréal Real Estate Board (GMREB) has just released its most recent residential real estate market statistics for the Montréal Census Metropolitan Area (CMA), based on the real estate brokers' Centris® provincial database. In total, 2,665 residential sales were concluded in September 2015, a 5 per cent increase compared to September 2014. This was the seventh consecutive monthly increase in sales and the most active month of September in four years.

Sales by geographic area

  • For a second consecutive month, the area of Laval stood out, posting a 10 per cent jump in sales compared to September of last year.
  • The Island of Montréal also registered a significant increase in sales, at 8 per cent.
  • The increases were more moderate on the South Shore (+3 per cent), on the North Shore (+1 per cent) and in Vaudreuil-Soulanges (+1 per cent).

Statistics by property category

  • For a second consecutive month, all property categories contributed to the increase in sales.
  • Sales of plexes (2 to 5 dwellings) climbed by 23 per cent in the Montréal CMA, after posting a 20 per cent increase in the month of August.
  • Single-family home sales rose by 4 per cent compared to September of 2014, while condominium sales increased by 1 per cent.

Prices

  • For the Montréal CMA as a whole, the median price of condominiums ($248,000) grew by 6 per cent compared to September 2014. The Island of Montréal and the South Shore both registered an increase of 8 per cent.
  • The median price of single-family homes rose by 3 per cent across the Montréal CMA to reach $292,500. The Island of Montréal stood out with a 9 per cent increase.
  • Plexes sold at a median price of $420,000 in September 2015, a 2 per cent decrease compared to the same period last year.
“The momentum on the Island of Montréal continued into September,” said Sylvain Girard, Vice-President of the GMREB Board of Directors. “Sales have increased every month since February so that cumulatively for the year, the number of transactions is up by 9 per cent compared to the same period last year. This is particularly due to the strength of single-family home sales which have increased by 17 per cent,” he added. It should also be noted that all five main areas of the Montréal CMA have registered an increase in year-to-date sales.

Number of properties for sale

The upward trend that continued for five years in terms of the number of active listings finally ended in September 2015. In total, some 32,471 residential properties were for sale as at September 30, a number that is equivalent to that observed in September 2014.







Montréal Area Real Estate Market Maintains its Momentum in August, Driven by Strong Sales in Laval

L'Île-des-Sœurs, September 4, 2015 - The Greater Montréal Real Estate Board (GMREB) has just released its most recent residential real estate market statistics for the Montréal Census Metropolitan Area (CMA), based on the real estate brokers’ Centris® provincial database. In total, 2,408 residential sales were concluded in August 2015, an 8 per cent increase compared to August 2014. This was the sixth consecutive monthly increase in sales and the most active month of August in four years.

Sales by geographic area

  • The area of Laval stood out with an 18 per cent increase in sales compared to August of last year.
  • The North Shore, the Island of Montréal and the South Shore also registered sales increases, at 13 per cent, 10 per cent and 1 per cent, respectively.
  • Vaudreuil-Soulanges was the only area that registered a decrease in sales (-7 per cent) compared to August 2014.

Statistics by property category

  • All three property categories contributed to the increase in sales in August.
  • Sales of plexes (2 to 5 dwellings) jumped by 20 per cent across the Montréal CMA.
  • Sales of single-family homes grew by 8 per cent compared to August of last year.
  • After falling in July, condominium sales got back on track in August, rising by 5 per cent.

Prices

  • For the Montréal CMA as a whole, the median price of plexes ($456,000) increased by 5 per cent compared to August of last year.
  • The median price of condominiums rose by 4 per cent to reach $240,000.
  • The median price of single-family homes stood at $290,000, a 2 per cent increase compared to the same period last year.
“Condominium prices remain strong despite the fact that buyers have a slight advantage in the condo market right now,” said François Bissonnette, President of the GMREB Board of Directors. “Across the Montréal CMA, year-to-date condominium prices are 4 per cent higher than they were during the same period last year,” he added.

Number of properties for sale

The increase in the number of properties for sale stood at only 1 per cent in August, which is the smallest increase in the number of active listings in over four years in the Montréal area.









Fifth Consecutive Increase in Residential Sales in the Montréal Area in July

L'Île-des-Sœurs, August 6, 2015 - The Greater Montréal Real Estate Board (GMREB) has just released its most recent residential real estate market statistics for the Montréal Census Metropolitan Area (CMA), based on the real estate brokers' Centris® provincial database. In total, 2,624 residential sales were concluded in July 2015, a 2 per cent increase compared to July 2014. This was the fifth consecutive monthly increase in sales.

“It's interesting to see that selling times have decreased for a second consecutive month, reversing the upward trend that was observed for more than four years,” said François Bissonnette, President of the GMREB Board of Directors. The average selling time for all property categories combined, throughout the Montréal CMA, stood at exactly 100 days in July 2015, which is 4 days less than in July 2014.

Variation by geographic area 

  • The Vaudreuil-Soulanges area clearly stood out in July, registering a 42 per cent increase in residential sales compared to July of last year.
  • The Island of Montréal (+3 per cent) was the only other area that registered an increase in sales.
  • The number of transactions remained stable on the North Shore (0 per cent), while Laval (-1 per cent) and the South Shore (-5 per cent) registered a decrease in sales compared to July 2014.

Statistics by property category

  • As was the case in June, single-family home sales across the Montréal CMA registered the largest increase in July, at 7 per cent.
  • Sales of plexes (2 to 5 dwellings) remained stable (0 per cent) compared to July 2014.
  • Condominium sales fell by 7 per cent.

Prices

  • For the Montréal CMA as a whole, the median price of single-family homes ($290,500) and plexes ($455,000) both registered a 1 per cent increase compared to July 2014.
  • The median price of condominiums rose by 4 per cent to reach $245,000.
Number of properties for sale

For a third consecutive month, the increase in the number of properties for sale stood at only 2 per cent, which is the smallest increase in the number of active listings in over four years in the Montréal area.







Most Active Month of June in Six Years on Montréal's Residential Real Estate Market

L'Île-des-Sœurs, July 7, 2015 - The Greater Montréal Real Estate Board (GMREB) has just released its most recent residential real estate market statistics for the Montréal Census Metropolitan Area (CMA), based on the real estate brokers' Centris® provincial database. In total, 3,627 residential sales were concluded in June 2015, an 11 per cent increase compared to June 2014. This was the fourth consecutive increase in sales and the most active month of June since 2009.

“In the past few months, sales have been growing significantly faster than the number of listings, which means that market conditions have started to tighten again,” said François Bissonnette, President of the GMREB Board of Directors. “However, the balance of power in negotiations is still, generally speaking, in the hands of buyers for condominiums,” he added.

Variation by geographic area 

  • The North Shore clearly stood out in June 2015, registering a 26 per cent increase in residential sales including, more specifically, a 33 per cent increase in condominium sales.
  • The area of Vaudreuil-Soulanges also performed well in June with a 13 per cent increase in sales compared to June of last year.
  • The other areas of the CMA also contributed to June's increase in sales, as the number of transactions rose by 7 per cent on the Island of Montréal and in Laval, and by 5 per cent on the South Shore.

Statistics by property category

  • Single-family homes registered the largest increase in sales in June 2015, at 15 per cent.
  • Sales of plexes (2 to 5 dwellings) rose by 11 per cent.
  • Condominium sales increased by 4 per cent after registering a slight decrease (-1 per cent) in May.

Prices

  • For the Montréal CMA as a whole, the median price of single-family homes ($295,000) and condominiums ($240,000) increased by 2 per cent compared to June 2014.
  • In contrast, the median price of plexes fell slightly by 2 per cent to reach $438,000.
Number of properties for sale

Although the upward trend continued in June, to the tune of 2 per cent, this was the smallest increase in the number of active listings in more than four years in the Montréal area.







Residential Real Estate Market Upturn is Confirmed in the Montréal Area

L'Île-des-Sœurs, June 5, 2015 - The Greater Montréal Real Estate Board (GMREB) has just released its most recent residential real estate market statistics for the Montréal Census Metropolitan Area (CMA), based on the real estate brokers' Centris® provincial database. In total, 4,332 residential sales were concluded in May 2015, a 9 per cent increase compared to May 2014. This was the third consecutive increase in sales and the most active month of May in three years.

“There has been a clear upturn on the residential real estate market in the past three months, manifested by a steady increase in sales and stronger price growth,” said François Bissonnette, President of the GMREB Board of Directors.

Variation by geographic area 

  • The Island of Montréal clearly stood out for a second consecutive month, registering a
    19 per cent increase in residential sales. “Single-family homes are especially in demand now on the Island of Montréal, as evidenced by the 32 per cent increase in sales in April and the 26 per cent increase in May,” said François Bissonnette.
  • The areas of Vaudreuil-Soulanges, the North Shore and the South Shore posted respective sales increases of 8 per cent, 5 per cent and 2 per cent.
  • Only Laval registered a decrease in sales (-3 per cent).

Statistics by property category

  • For a second consecutive month, plexes (2 to 5 dwellings) registered the largest increase in sales at 36 per cent.
  • Sales of single-family homes rose by 10 per cent.
  • Sales of condominiums fell slightly (-1 per cent), the first decrease in four months.

Prices

  • Condominiums ($239,000) registered the largest increase in median price (+6 per cent) in the past seven months.
  • The median price of single-family homes stood at $292,000, an increase of 2 per cent.
  • The median price of plexes grew by 3 per cent to reach $455,000.

Number of properties for sale

Although the upward trend continued in May, to the tune of 4 per cent, this was the smallest increase in the number of active listings in more than four years in the Montréal area.

Montréal Area Residential Real Estate Market: Largest Increase in Sales in Almost Three Years

Île-des-Sœurs, May 6, 2015 - The Greater Montréal Real Estate Board (GMREB) has just released its most recent residential real estate market statistics for the Montréal Census Metropolitan Area (CMA), based on the real estate brokers' Centris® provincial database. In total, 4,680 residential sales were concluded in April 2015, a 12 per cent increase compared to April 2014. This was the most active month of April since 2012 and the largest increase in sales in 35 months.

“The real estate market is currently benefiting from historically low financing rates as well as a boost in employment in the Montréal Metropolitan Area,” said François Bissonnette, President of the GMREB Board of Directors.

Variation by geographic area 

All of the CMA's main areas registered an increase in sales in April 2015 compared to April 2014:

  • The Island of Montréal posted a 19 per cent increase in sales;
  • The North Shore, the South Shore, Laval and Vaudreuil-Soulanges registered respective increases of 10, 9, 8 and 2 per cent.

Statistics by property category

  • Plexes with 2 to 5 dwellings registered the largest increase in sales (+15 per cent);
  • Single-family home sales jumped by 14 per cent;
  • Condominium sales rose by 9 per cent.

Prices

All property categories registered an increase in April:

  • The median price of single-family homes grew by 2 per cent compared to April of last year to reach $289,000;
  • The median price of condominiums and plexes both increased by 3 per cent to reach $231,950 and $441,750, respectively.

Number of properties for sale

Although the upward trend continued, to the tune of 4 per cent in April, this was the smallest increase in the number of active listings in more than four years in the Montréal area.

Montréal Area Residential Real Estate Market: March was the Most Active Month in Two Years

Île-des-Sœurs, April 8, 2015 - The Greater Montréal Real Estate Board (GMREB) has just released its most recent residential real estate market statistics for the Montréal Census Metropolitan Area (CMA), based on the real estate brokers' Centris® provincial database. In total, 4,495 residential sales were concluded in March 2015, representing a 6 per cent increase compared to March 2014 and the most active month of the past two years.

“The effects of the recent decreases in mortgage rates were finally felt on the real estate market, as many consumers were convinced that this is an opportune time to buy a property,” said Diane Ménard, Vice President of the GMREB Board of Directors.

Geographically, all of the main areas of the Montréal CMA registered an increase in sales in March 2015 except for the North Shore. The South Shore stood out with a 17 per cent increase in sales compared to March of last year, and the Island of Montréal also turned in a solid performance as sales rose by 7 per cent. The areas of Laval and Vaudreuil-Soulanges both registered a sales increase of 2 per cent compared to March 2014. On the North Shore, the decrease in sales was at 5 per cent.

By property category, sales of condominiums and single-family homes throughout the CMA both increased by 7 per cent in March. Plex sales moved in the opposite direction, with 7 per cent fewer transactions compared to March of last year.

In terms of prices across the CMA, the three property categories recorded a similar increase of 2 per cent, with a median price of $280,000 for single-family homes, $230,000 for condominiums and $430,000 for plexes.

Finally, the number of active listings on the real estate brokers' Centris® system continued its upward trend, as in March 2015, there were 5 per cent more properties for sale than a year earlier in the metropolitan area.







Residential Real Estate Market for the Montréal Area: a Stable Month of February

Île-des-Sœurs, March 9, 2015 - The Greater Montréal Real Estate Board (GMREB) has just released its most recent residential real estate market statistics for the Montréal Census Metropolitan Area (CMA), based on the real estate brokers' Centris® provincial database. In total, 3,281 residential sales were concluded in February 2015, which means the market remained stable (0 per cent) when compared to February of last year.

Geographically, the Island of Montréal stood out with a sales increase of 8 per cent compared to February 2014. The Laval and South Shore regions also experienced increases in activity, albeit more modest, with 3 per cent and 1 per cent respectively. Conversely, the North Shore registered a decrease in sales of 9 per cent while the Vaudreuil-Soulanges region suffered a decline of 24 per cent. This is the fifth consecutive monthly decline in sales for Vaudreuil-Soulanges.

“In early 2015, similar to what we saw in the last months of last year, the areas of the Island of Montréal and the South Shore are much more dynamic," stated Diane Ménard, Vice-President of the GMREB Board of Directors. “For January and February, the Island of Montréal (+1 per cent) and the South Shore (+2 per cent) were the two areas to post a growth in sales," she added.

By property category for the CMA, condominiums and single-family homes saw an increase in sales of 3 per cent and 1 per cent respectively in February. However, plexes posted the first drop in activity in five months with 19 per cent fewer transactions than in February 2014.

In terms of prices across the CMA, the three property categories recorded a similar increase of 2 per cent, with a median price of $280,000 for single-family homes, $230,000 for condominiums and $430,000 for plexes.

Finally, the number of active listings on the real estate brokers' Centris® system continued its upward trend. In February 2015, there were 5 per cent more properties for sale than a year earlier for the metropolitan area.







Residential Sales Slow in January in the Montréal Area

Île-des-Sœurs, February 6, 2015 - The Greater Montréal Real Estate Board (GMREB) today released its residential sales statistics for the Montréal Census Metropolitan Area (CMA). According to the real estate brokers' Centris® provincial database, 1,935 residential sales were concluded in January 2015, a 5 per cent decrease compared to January 2014.

“January's results are a contrast to those of December, when sales increased by 9 per cent in the Montréal CMA,” said Diane Ménard, Vice-President of the GMREB Board of Directors. “Fortunately, the recent drop in interest rates could reinvigorate the real estate market in the coming months,” she added.

Geographically, the South Shore was the only area to register an increase in sales in January, as transactions rose by 4 per cent compared to January of 2014. Otherwise, sales decreased on the Island of Montréal (-8 per cent), in Laval (-8 per cent), on the North Shore (-5 per cent) and in Vaudreuil-Soulanges (-10 per cent).

By property category, sales of single-family homes fell by 5 per cent across the CMA in January, while sales of condominiums posted a larger decrease at 9 per cent. Plexes, on the other hand, had a good start to the year, as sales of this property category grew by 10 per cent compared to January of last year.

In terms of prices, despite a larger decrease in sales, condominiums registered the largest increase in median price, growing by 5 per cent across the CMA compared to January of last year to reach $230,485. The median price of single-family homes increased by 2 per cent to reach $277,500, while that of plexes remained relatively stable at $428,500.

Finally, the number of active listings on the real estate brokers' Centris® system continued its upward trend. In January 2015, there were 7 per cent more properties for sale across the Montréal CMA compared to January of last year.







Residential Real Estate Market: Most Active Month of December in the Past Three Years in the Montréal Area

Île-des-Sœurs, January 12, 2015 - he Greater Montréal Real Estate Board (GMREB) today released its residential sales statistics for the Montréal Census Metropolitan Area (CMA). According to the real estate brokers' Centris® provincial database, 2,203 residential sales were concluded in December 2014, a 9 per cent increase compared to December of last year and the most active month of December in the past three years.

“Not only was December the best month of 2014 in terms of sales growth, it was also the largest monthly increase in sales in the Montréal area in thirty-one months, meaning since May 2012,” said Diane Ménard, Vice-President of the GMREB Board of Directors.

Geographically, the northern suburbs registered a remarkable increase in sales in December. Sales in Laval jumped by 26 per cent and sales on the North Shore grew by 19 per cent compared to December of last year. The South Shore and the Island of Montréal also registered sales increases, with transactions rising by 8 per cent and 4 per cent, respectively. Only Vaudreuil-Soulanges registered a decrease in sales, at 9 per cent, compared to December 2013.

By property category, throughout the CMA, sales of both single-family homes and condominiums increased by 9 per cent in December, while plex sales grew by 10 per cent. As for prices, the median price of single-family homes remained stable at $284,000, that of condominiums increased by 2 per cent ($235,000) and that of plexes rose by 8 per cent ($444,375) compared to December of last year.

Finally, the number of active listings on the real estate brokers' Centris® system continued its upward trend. In December 2014, there were 8 per cent more properties for sale across the Montréal CMA compared to December 2013.







Median Price of Single-Family Homes Increases on the Island of Montréal

Île-des-Sœurs, December 5, 2014 - The Greater Montréal Real Estate Board (GMREB) today released its residential sales statistics for the Montréal Census Metropolitan Area (CMA). According to the real estate brokers' Centris®provincial database, 2,590 residential sales were concluded in November 2014, a 1 per cent decrease compared to November of last year. This was the second consecutive decrease, as sales also fell by 1 per cent in October.

By property category, sales of single-family homes fell by 4 per cent in November, while sales of condominiums remained stable (0 per cent). Like in October, plexes were the only property category to register an increase in sales in November, jumping by 17 per cent compared to November of last year.

Geographically, two areas registered an increase in sales in November: the North Shore at 3 per cent and the Island of Montréal at 1 per cent. The South Shore and Laval registered opposite results, with decreases of 1 per cent and 3 per cent, respectively. Finally, sales fell by 19 per cent in the area of Vaudreuil-Soulanges.

The median price of single-family homes across the Montréal CMA stood at $283,500 in November 2014, a 2 per cent increase compared to November 2013. «In particular, we've noticed that prices of single-family homes have been firming up on the Island of Montréal, with an average increase of 5 per cent over the last five months,» said Diane Ménard, Vice-President of the GMREB Board of Directors. «In November, the increase was 10 per cent,» she added.

The median price of condominiums across the Montréal Metropolitan Area fell slightly (-1 per cent) in November to reach $230,750. However, in October, condominiums registered their largest monthly increase in median price (+6 per cent) in almost two years. Finally, the median price of plexes decreased by 1 per cent in November to reach $439,500.

The number of active listings on the real estate brokers' Centris® system continued its upward trend. In November 2014, there were 8 per cent more properties for sale across the Montréal CMA compared to November of last year.







Condominium Prices Strengthen in October in the Montréal Area

Île-des-Sœurs, November 7, 2014 - The Greater Montréal Real Estate Board (GMREB) today released its residential sales statistics for the Montréal Census Metropolitan Area (CMA). According to the real estate brokers' Centris® provincial database, 2,636 residential sales were concluded in October 2014, a 1 per cent decrease compared to October of last year. This decrease follows a 7 per cent increase in sales in September.

Sales of single-family homes fell slightly by 1 per cent in October, while condominium sales decreased by 4 per cent. Only plexes registered an increase in sales, at 5 per cent, compared to October of last year.

Geographically, Laval stood out with a 15 per cent increase in sales in October 2014. The Island of Montréal also registered a small increase of 1 per cent. Sales decreased by 2 per cent on the South Shore and by 3 per cent in Vaudreuil-Soulanges. Finally, after an excellent month of September (+15 per cent), the North Shore had a more difficult month of October, with a 12 per cent drop in sales compared to October 2013.

“The median price of condominiums in the Montréal CMA increased by 6 per cent in October 2014 compared to the same period last year and registered its largest monthly increase since December 2012,” said Diane Ménard, Vice-President of the GMREB Board of Directors. The median price of single-family homes rose by 1 per cent, while that of plexes (2 to 5 dwellings) increased by 4 per cent over the comparative period.

Finally, across the Montréal CMA, the number of active listings on the real estate brokers' Centris® system continued to rise in October, growing by 8 per cent compared to October 2013.







Third Increase in Sales in the Past Four Months for the Montréal Area Real Estate Market

Île-des-Sœurs, October 7, 2014 - The Greater Montréal Real Estate Board (GMREB) today released its residential sales statistics for the Montréal Census Metropolitan Area (CMA). According to the real estate brokers’ Centris® provincial database, 2,552 residential sales transactions were concluded in September 2014, a 7 per cent increase compared to September of last year. This was the third increase in sales in the past four months.

“We just witnessed the best month of September since 2011 in terms of residential sales,” said Diane Ménard, Vice-President of the GMREB Board of Directors.

Single-family homes posted very solid results in September, as sales of this property category increased by 11 per cent across the CMA. Vaudreuil-Soulanges turned in an excellent performance with a 41 per cent increase in single-family home sales and the North Shore also performed well with a 20 per cent increase. Condominium sales across the CMA rose by 4 per cent in September, while plex sales registered a small decrease of 1 per cent compared to September 2013.

Geographically, with the exception of a 4 per cent decrease in sales on the South Shore, all main areas of the Montréal CMA registered sales growth in September. For all property categories combined, Vaudreuil-Soulanges led the way with a 41 per cent jump in sales, followed by the North Shore with a 15 per cent increase, the Island of Montréal with an 8 per cent increase, and Laval with a 2 per cent increase.

The median price of single-family homes across the Montréal CMA rose by 2 per cent compared to September 2013 to reach $283,750. After falling by 1 per cent in August, the median price of condominiums grew by 3 per cent to reach $234,000. Finally, the median price of plexes stood at $428,000, a 2 per cent increase compared to September of last year.

The number of properties listed on the real estate brokers’ Centris® system continued continued its upward trend, but at a more moderate pace. The supply of properties for sale was 8 per cent higher in September 2014 than it was in September of last year.







Property Price Index for July 2014:

Residential Sales Decrease in August in the Montréal Area

Île-des-Sœurs, September 8, 2014 - The Greater Montréal Real Estate Board (GMREB) today released its residential sales statistics for the Montréal Census Metropolitan Area (CMA). According to the real estate brokers' Centris® provincial database, 2,234 residential sales transactions were concluded in August 2014, a 6 per cent decrease compared to August of last year. This drop in sales follows increases of 3 per cent and 2 per cent registered in June and July, respectively.

“We are witnessing changes from one month to the next, as August's results differed significantly from those of July in many respects,” said Diane Ménard, Vice-President of the GMREB Board of Directors. “The most notable difference was in the number of condominium transactions, which fell by 11 per cent in August after jumping by 13 per cent in July,” she added.

The two other property categories also registered a decrease in sales in August, as sales of single-family homes fell by 3 per cent and plex sales tumbled by 9 per cent.

Geographically, all five main areas of the Montréal CMA registered a drop in sales in August, with sales falling by 4 per cent on the Island of Montréal and in Vaudreuil-Soulanges, by 5 per cent on the North Shore, by 8 per cent in Laval and by 9 per cent on the South Shore. “However, just last month, the South Shore registered the largest increase in sales,” said Ms. Ménard.

The median price of single-family homes across the Montréal CMA remained stable compared to August of last year, at $285,000. The median price of condominiums fell slightly by 1 per cent to reach $230,150. This was the first decrease in eight months for condominiums. Finally, the median price of plexes stood at $439,000 in August 2014, a 2 per cent increase compared to August of last year.

The number of properties listed on the real estate brokers' Centris® system continued its upward trend, rising by 9 per cent in August 2014 compared to August 2013.







Property Price Index for July 2014:

Residential Sales Increase due to a Rebound in Condominium Transactions

Île-des-Sœurs, August 7, 2014 - The Greater Montréal Real Estate Board (GMREB) today released its residential sales statistics for the Montréal Census Metropolitan Area (CMA). According to the real estate brokers' Centris® provincial database, 2,593 residential sales transactions were concluded in July 2014, a 2 per cent increase compared to July of last year. This was the second consecutive monthly increase in sales, as the increase registered in June put an end to eight consecutive decreases.

«There has been a significant rebound in condominium sales in the past two months in the Montréal area,» said Diane Ménard, Vice-President of the GMREB Board of Directors. «What's more, condominium prices also strengthened significantly in July,» she added.

After registering a 7 per cent increase in June, condominium sales across the CMA jumped by 13 per cent in July. Plex sales increased by 3 per cent, while single-family home sales fell by 4 per cent.

Geographically, the number of transactions increased on the South Shore (+9 per cent), on the Island of Montréal (+8 per cent) and in Laval (+5 per cent). In contrast, the North Shore and Vaudreuil-Soulanges did not contribute to July's sales growth, posting respective decreases of 11 and 22 per cent.

Throughout the Montréal CMA, the median price of condominiums reached $235,000, a 3 per cent increase compared to July of last year. The median price of single-family homes rose by 1 per cent to reach $287,500, while that of plexes increased by 7 per cent to reach $449,000.

The number of properties listed on the real estate brokers' Centris® system in July 2014 was 10 per cent higher than one year earlier. This was the 47th consecutive monthly increase in the number of active listings. Condominiums registered the smallest increase in active listings, at 7 per cent.







Property Price Index for July 2014:



Sales Increase in the Montréal Area

Île-des-Soeurs, July 8, 2014 – The Greater Montréal Real Estate Board (GMREB) today released its residential sales statistics for the Montréal Census Metropolitan Area (CMA). According to the real estate brokers’ Centris® provincial database, 3,298 residential sales transactions were concluded in June 2014, a 3 per cent increase compared to June of last year. This was the first increase in sales in nine months.

"The increase in sales that we saw in June is largely due to the 14 per cent increase in condominium transactions on the Island of Montréal," said Diane Ménard, Vice-President of the GMREB Board of Directors. "In fact, this was the most active month of June in the past three years for condominiums on the Island of Montréal, which bodes well for the rest of 2014," she added.

Across the Montréal CMA, sales of single-family homes increased by 2 per cent, sales of condominiums rose by 8 per cent and plex sales grew by 1 per cent. This was the first increase in condominium sales since September 2013.

Geographically, sales increased on the Island of Montréal (+10 per cent) and on the South Shore (+2 per cent), but decreased in Laval (-2 per cent), on the North Shore (-4 per cent) and in Vaudreuil-Soulanges (-1 per cent).

As for prices in the Montréal CMA, the median price of single-family homes grew by 2 per cent in June 2014 compared to June of last year, to reach $291,000. The median price of plexes increased by 5 per cent ($445,650), while that of condominiums remained virtually unchanged at $234,525.

The number of properties listed on the real estate brokers’ Centris® system in June 2014 was 10 per cent higher than one year earlier. This was the 46th consecutive monthly increase in the number of active listings. For a second consecutive month, single-family homes registered the largest increase in supply.







Property Price Index for June 2014


Sales Slow, Prices Hold Steady on Montréal Area Residential Real Estate Market

Île-des-Soeurs, June 6, 2014 –The Greater Montréal Real Estate Board (GMREB) today released its residential sales statistics for the Montréal Census Metropolitan Area (CMA). According to the real estate brokers’ Centris® provincial database, 4,011 residential sales transactions were concluded in May 2014, a 6 per cent decrease compared to May of last year. This was the sixth consecutive monthly drop in sales.

The decrease in sales in May was more pronounced for plexes, as sales of this property category fell by 20 per cent. Single-family homes and condominiums registered a similar drop in sales, at 4 per cent and 5 per cent, respectively.

Geographically, the Island of Montréal and Vaudreuil-Soulanges were the areas most affected by the decrease in sales, with respective drops of 12 and 10 per cent. Sales fell by 5 per cent on the North Shore and by only 1 per cent on the South Shore. Laval, however, bucked the downward trend by posting a 4 per cent increase in sales. “This was the first increase in sales in Laval since July 2012,” noted Diane Ménard, Vice-President of the GMREB Board of Directors.

Across the CMA, the median price of single-family homes sold in May 2014 was identical to that registered in May of last year, at $285,000. The median price of condominiums stood at $226,287, a slight decrease of 1 per cent, while that of plexes (2 to 5 dwellings) increased by 3 per cent to reach $442,000.

As at May 31, 2014, there were 35,866 active listings in the Centris® system, up 10 per cent compared to the same period last year. The number of properties for sale has increased for the past 45 consecutive months.

Finally, sales times continued to increase compared to May 2013. On average, it took 91 days (+9 days), 115 days (+10 days) and 85 days (+5 days) for a single-family home, a condominium and a plex to sell.





Property Price Index for May 2014


Residential Sales in the Montréal Area: No Improvement in April

Île-des-Sœurs, May 7, 2014 – The Greater Montréal Real Estate Board (GMREB) today released its residential sales statistics for the Montréal Census Metropolitan Area (CMA). According to the real estate brokers’ Centris® provincial database, 4,184 residential sales transactions were concluded in April 2014, a 9 per cent decrease compared to April of last year. This was the fifth consecutive monthly drop in sales.

All three property categories registered a similar decrease in the number of transactions, at 8 per cent, 9 per cent and 8 per cent, respectively, for single-family homes, condominiums and plexes. In the case of condominiums, the sales decrease in April was the seventh consecutive drop.

Geographically, all five main areas of the CMA were affected by the downturn in sales. The smallest decrease (-5 per cent) was observed in Vaudreuil-Soulanges, putting an end to six consecutive increases in sales in this area. Laval, the South Shore and the Island of Montréal registered decreases of 6, 8 and 9 per cent, respectively, while the largest drop in sales was on the North Shore, where the number of transactions fell by 10 per cent compared to April of last year.

Prices Hold Steady

Across the CMA, the median price of single-family homes ($282,000), condominiums ($225,000) and plexes ($429,000) all increased by 1 per cent in April 2014. It should be noted that the median price of single-family homes rose by 4 per cent on the South Shore.

As at April 30, 2014, there were 35,904 active listings in the Centris® system, up 9 per cent compared to the same period last year. The number of properties for sale has increased for the past 44 consecutive months.

“Given the increase in the number of listings and the decrease in the number of sales in recent months, buyers are regaining bargaining power, particularly if they’re shopping for a condominium, as market conditions clearly favour buyers in most areas,” said Diane Ménard, Vice-President of the GMREB Board of Directors.

Finally, average selling times increased by 9 days for single-family homes (91 days) and by 15 days (113 days) for condominiums while, on average, plexes were sold in 78 days, 9 fewer than in April 2013.



Property Price Index for April 2014



Prices Remain Stable and Sales Decrease Slightly in March

Île-des-Sœurs, April 9, 2014 – The Greater Montréal Real Estate Board (GMREB) today released its residential sales statistics for the Montréal Census Metropolitan Area (CMA). According to the real estate brokers’ Centris® provincial database, 4,284 residential sales transactions were concluded in March 2014, a 3 per cent decrease compared to March of last year. This was the fourth consecutive monthly decrease in sales.

All three property categories registered a drop in sales compared to March of last year. Sales of single-family homes and plexes fell slightly by 1 per cent, while condominium sales dropped by 7 per cent.

By geographic area, Vaudreuil-Soulanges registered the largest increase in sales (+9 per cent) compared to March 2013, the sixth consecutive monthly increase in sales in this area. Sales grew by 1 per cent on the Island of Montréal while, in contrast, the South Shore registered the largest decrease in sales at -8 per cent.

The median price of single-family homes across the CMA increased for the sixth consecutive month in March 2014, rising by 2 per cent to reach $280,000. The Island of Montréal and the North Shore both registered an increase of 2 per cent, while decreases were observed on the South Shore (-1 per cent), in Laval (-2 per cent) and in Vaudreuil-Soulanges (-7 per cent).

The median price of condominiums rose by 1 per cent to reach $225,000. Increases were seen on the Island of Montréal (1 per cent), on the North Shore (1 per cent) and in Laval (4 per cent), while the South Shore posted a decrease of 2 per cent, compared to March of last year.

As at March 31, 2014, there were 35,947 active listings in the Centris® system, up 9 per cent compared to the same period last year.

The supply of condominiums increased by 11 per cent in March. "Even though the number of condominium listings continues to rise, the increase observed in March was the smallest since November 2010," said Diane Ménard, Vice-President of the GMREB Board of Directors.

Market conditions have remained unchanged since 2013 for all three property categories, across the Montréal CMA. The market for single-family homes and plexes remained balanced in all of the main geographic areas except for Vaudreuil-Soulanges, where buyers continue to have the upper hand, while the condominium market in the Montréal CMA continues to favour buyers.

Average selling times increased by 7 days for single-family homes and 11 days for condominiums in March 2014 compared to March 2013. The average selling time for plexes decreased by 1 day.



Property Price Index for March 2014

Moderate price increases for single-family homes and condominiums

Île-des-Sœurs, March 10, 2014 – The Greater Montréal Real Estate Board (GMREB) today released its residential sales statistics for the Montréal Census Metropolitan Area (CMA). According to the real estate brokers’ Centris® provincial database 3,311 residential sales transactions were concluded in February 2014, a 2 per cent decrease compared to February of last year. However, there is a moderate increase in median prices for single-family homes and condominiums.

Across the CMA, the median price of single-family homes rose by 2 per cent in February 2014 to reach $275,000. Vaudreuil-Soulanges and the South Shore registered increases of 4 per cent and 5 per cent, respectively, while Laval and the Island of Montréal posted decreases of 2 per cent and 3 per cent, respectively. The North Shore is the only area where the median price of single-family homes remained stable compared to February 2013.

The median price of condominiums increased by 3 per cent to $225,000. Increases were registered on the Island of Montréal (2 per cent), Laval (4 per cent) and the South Shore (5 per cent) while the North Shore posted a 2 per cent decrease.

"It should be noted that the 2 per cent increase in the median price of condominiums on the Island of Montréal in February is the largest increase in the last ten months," said Patrick Juanéda, President of the GMREB Board of Directors. "It should also be noted that the highest growth in prices was registered in the South Shore area with a 5 per cent increase in the median price of both single-family homes and condominiums," he added.

Sales of single-family homes in the metropolitan area remained stable during the comparison period while sales of condominiums declined by 11 per cent and that of plexes jumped by 13 per cent.

Geographically, sales on the Island of Montréal and Vaudreuil-Soulanges rose by 1 per cent and 35 per cent, respectively. The North Shore of Montréal, the South Shore and Laval registered decreases of 2 per cent, 7 per cent and 17 per cent, respectively, in February 2014. Note that this is the 19th consecutive monthly decline for Laval.

Market conditions have remained generally stable since 2013 for all three property categories. The single-family home and plex markets were balanced across the CMA, while the condominium market favoured buyers. Vaudreuil-Soulanges was the only area that continued to give buyers the upper hand for single-family homes.

Average selling times as compared to February 2013 increased by 4 days for single-family homes, by 11 days for condominiums and by 12 days for plexes.

As of February 28, 2014, there were 34,620 active listings in the Centris® system, an increase of 9 per cent compared to the same period last year and the 42nd consecutive monthly increase.



Property Price Index for February 2014





Prices Stabilize on Montréal’s Residential Real Estate Market

Île-des-Sœurs, February 7,2014 – The Greater Montréal Real Estate Board (GMREB) today released its residential sales statistics for the Montréal Census Metropolitan Area (CMA). According to the real estate brokers’ Centris® provincial database, 2,054 residential sales transactions were concluded in January 2014, a 2 per cent decrease compared to January of last year.

Sales of single-family homes increased by 1 per cent in January 2014, while sales of condominiums and plexes fell by 4 per cent and 8 per cent, respectively. By geographic area, the North Shore registered the largest increase in sales at 4 per cent, followed by the Island of Montréal and Vaudreuil-Soulanges with respective increases of 3 per cent and 1 per cent. Laval registered a 5per cent decrease in sales, while sales on the South Shore fell by 13 per cent in January 2014 compared to January of last year.

"It’s interesting to note that the Vaudreuil-Soulanges area bucked the trend by posting a fourth consecutive monthly increase in sales in January 2014," said Paul Cardinal, Manager of the Market Analysis Department at the Québec Federation of Real Estate Boards. The media n price of single-family homes across the CMA increased by 1 per cent in January to reach $272,000. The largest increase was on the North Shore, where the median price of single-family homes jumped by 9 per cent. This was the fifth consecutive monthly increase in this area. On the Island of Montréal and in Laval, the median price of single-family homes increased by 4 and 3 per cent, respectively, while on the South Shore and in Vaudreuil-Soulanges, it fell by 2 per cent and 7 per cent, respectively.The median price of condominums, at $220,000, remained stable in the Montréal CMA.

Market conditions remained the same for all three property categories in the Montréal area.The single-family home and plex markets were balanced across the CMA, while the condominium market favoured buyers. Vaudreuil-Soulanges was the only area that continued to give buyers the upper hand for single-family homes.

"The strong increase in the number of listings on the condominium market has been slowing, as the increase in January was the smallest since November 2010," said Diane Ménard, Vice-President of the GMREB Board of Directors. "In addition, new condominium listings on the Centris® system have decreased for a fourth consecutive month," she added. Average selling times as compared to January 2013 increased by 15 days for single-family homes, and by 12 days for condominiums and plexes.

As of January 31, 2014, there were 31,470 active listings in the Centris® system, up 9 per cent compared to the same period last year and the 41st consecutive monthly increase.



Property Price Index for January 2014



La Chambre immobilière du Grand Montréal maintient sa décision de mettre fin à son adhésion à l’Association canadienne de l’immeuble (in French only)

Île-des-Soeurs, December 13, 2013 – La Chambre immobilière du Grand Montréal (CIGM) a confirmé sa décision du 2 octobre dernier de mettre fin à son adhésion à l’Association canadienne de l’immeuble (ACI) à compter du 1er janvier 2014. Cette confirmation fait suite à une consultation des membres qui ont majoritairement endossé la décision du conseil d’administration.

« Les résultats de la consultation effectuée confirment le rejet du statu quo actuel. L’ACI n’a malheureusement pas été en mesure de répondre aux demandes de la CIGM et les membres ont pris une décision en fonction de cette situation », a affirmé Patrick Juanéda, président de la Chambre immobilière du Grand Montréal (CIGM).

Rappelons qu’au cours des dernières années, l’ACI a posé des gestes qui ont modifié les règles régissant la pratique du courtage immobilier au Québec. La CIGM a communiqué ses positions à l’ACI à maintes reprises, mais plusieurs enjeux restaient aujourd’hui problématiques, au détriment à la fois des courtiers et des consommateurs québécois.

Parmi ceux-ci, mentionnons notamment l’imposition d’un double code de déontologie pour les courtiers québécois, courtiers qui travaillent pourtant dans la province où le courtage immobilier est le plus réglementé au pays, et cela au plus grand bénéfice de leurs clients. Le code de déontologie national imposé par l’ACI, lequel se juxtapose au code de déontologie déjà en vigueur, est ingérable et crée de la confusion.

Mentionnons également que le dédoublement de services, une nouvelle méthode de distribution des données, ainsi que la promotion de propriétés par des courtiers hors province, non régis par la loi sur le courtage immobilier du Québec, mettant à risque les consommateurs, ont été quelques-uns des facteurs déterminants dans la décision de la CIGM.

Il est à noter que la Chambre immobilière de Québec, à l’instar d’autres chambres l’an dernier, a également confirmé son retrait de l’ACI cette semaine.

Centris.ca: Un guichet unique et performant

Centris.ca est le site Web de l’industrie immobilière québécoise destiné aux consommateurs, où toutes les propriétés à vendre par les courtiers immobiliers au Québec sont réunies à la même adresse. Avec la décision prise par la CIGM, Centris.ca continuera d’être un accès de choix pour les consommateurs à la recherche d’une propriété.

« Centris.ca offre aujourd’hui une excellente visibilité pour tous les types de propriétés. Nos analyses démontrent d’ailleurs que les propriétés situées à Montréal sont facilement retrouvées par les internautes un peu partout à travers le monde », a conclu Patrick Juanéda.

Le réseau de collaboration des courtiers

La décision annoncée aujourd’hui n’aura aucun impact sur la visibilité des propriétés à vendre dans la grande région de Montréal. Le système de collaboration entre courtiers, qui permet à tous les courtiers du Québec de partager leurs inscriptions et leur rémunération, reste inchangé. Cette plateforme, communément appelée « système MLS », ne change pas et continuera de permettre la collaboration entre les quelque 14 000 courtiers de la province. Ce système unique au Québec et exclusif aux courtiers assure la meilleure visibilité possible aux consommateurs.

À propos de la Chambre immobilière du Grand Montréal

La Chambre immobilière du Grand Montréal est une association à but non lucratif qui compte près de 10 000 membres, courtiers immobiliers. Sa mission est de promouvoir et de protéger activement les intérêts professionnels et d’affaires de ses membres afin qu’ils accomplissent avec succès leurs objectifs d’affaires.



Residential Real Estate Market Remained Stable in the Montreal Area in November

Île-des-Sœurs, December 9, 2013 – The Greater Montréal Real Estate Board (GMREB) today released its residential sales statistics for the Montréal Census Metropolitan Area (CMA). According to the real estate brokers’ Centris® provincial database, 2,629 residential sales transactions were concluded in November 2013, a 1 per cent increase compared to November of last year.

"Single-family home sales registered solid results in November, thanks to increases in the suburbs, particularly on the South Shore and in Vaudreuil-Soulanges which posted respective increases of 14 and 21 per cent," said Diane Ménard, Vice-President of the GMREB Board of Directors.

In contrast, both condominiums and plexes registered a decrease in sales, particularly plexes, which posted a 10 per cent drop in sales compared to last November.

The only areas that registered an increase in sales in November 2013 were the South Shore and Vaudreuil-Soulanges, at 13 per cent and 17 per cent, respectively.

The median price of single-family homes across the CMA rose by 1 per cent in November 2013 to reach $278,000. It remained stable on the South Shore and in Vaudreuil-Soulanges, increased by 3 per cent in Laval and on the North Shore, and fell by 5 per cent on the Island of Montréal. As for the median price of condominiums, it registered a 3 per cent decrease in November, reaching $233,000.

Market conditions for single-family homes remained balanced across the CMA. Vaudreuil-Soulanges was the only area where the single-family home market gave buyers an advantage, while sellers still had the upper hand only in Laval.

As at November 30, 2013, there were 30,955 active listings in the Centris® system, up 9 per cent compared to the same period last year and the 39th consecutive monthly increase.

Note that, as has been the case since January 2012, condominiums once again registered the largest increase in active listings. However, November’s increase of 13 per cent is slightly smaller than that observed last month.



 

Property Price Index for November 2013

Montréal Area Residential Real Estate Market: Slight Decrease in Sales in December 2013

Île-des-Sœurs, January 16, 2014 – The Greater Montréal Real Estate Board (GMREB) today released its residential sales statistics for the Montréal Census Metropolitan Area (CMA). According to the real estate brokers’ Centris ® provincial database, 2,029 residential sales transactions were concluded in December 2013, a 3 per cent decrease compared to December of last year.

"The month of December performed like the average of the previous months," said Diane Ménard, Vice-President of the GMREB Board of Directors. "We believe we are still feeling the impact of the new mortgage insurance rules that came into force in the summer of 2012," she added.

All three property categories registered a decrease in sales across the CMA in December 2013 compared to December 2012. Plexes registered the largest drop, at 10 per cent.

Geographically, the Island of Montréal and Vaudreuil-Soulanges were the only two areas to register an increase in sales in December 2013, at 1 per cent and 46 per cent, respectively.

The median price of single-family homes across the CMA rose by 5 per cent in December 2013 to reach $285,000. With the exception of Laval, which registered a 2 per cent decrease, the median price of single-family homes increased by 2 per cent on the South Shore and in Vaudreuil-Soulanges, by 3 per cent on the North Shore and by 6 per cent on the Island of Montréal which was a strong end to the year following sharp decreases in September (-8 per cent) and in November (-5 per cent).

The median price of condominiums, at $230,000, fell by 4 per cent across the Metropolitan Area.

Market conditions for single-family homes remained balanced across the CMA. Vaudreuil-Soulanges was the only area where buyers had the upper hand in the single-family home market, while Laval was the only area where sellers had the advantage.

Average selling times, compared to December of last year, increased by 11 days for single-family homes, by 15 days for condominiums, and by 12 days for plexes.

As at December 31, 2013, there were 27,899 active listings in the Centris ® system, up 10 per cent compared to the same period last year and the 40th consecutive monthly increase.



Property Price Index for December 2013



La Chambre immobilière du Grand Montréal maintient sa décision de mettre fin à son adhésion à l’Association canadienne de l’immeuble (in French only)

Île-des-Soeurs, December 13, 2013 – La Chambre immobilière du Grand Montréal (CIGM) a confirmé sa décision du 2 octobre dernier de mettre fin à son adhésion à l’Association canadienne de l’immeuble (ACI) à compter du 1er janvier 2014. Cette confirmation fait suite à une consultation des membres qui ont majoritairement endossé la décision du conseil d’administration.

« Les résultats de la consultation effectuée confirment le rejet du statu quo actuel. L’ACI n’a malheureusement pas été en mesure de répondre aux demandes de la CIGM et les membres ont pris une décision en fonction de cette situation », a affirmé Patrick Juanéda, président de la Chambre immobilière du Grand Montréal (CIGM).

Rappelons qu’au cours des dernières années, l’ACI a posé des gestes qui ont modifié les règles régissant la pratique du courtage immobilier au Québec. La CIGM a communiqué ses positions à l’ACI à maintes reprises, mais plusieurs enjeux restaient aujourd’hui problématiques, au détriment à la fois des courtiers et des consommateurs québécois.

Parmi ceux-ci, mentionnons notamment l’imposition d’un double code de déontologie pour les courtiers québécois, courtiers qui travaillent pourtant dans la province où le courtage immobilier est le plus réglementé au pays, et cela au plus grand bénéfice de leurs clients. Le code de déontologie national imposé par l’ACI, lequel se juxtapose au code de déontologie déjà en vigueur, est ingérable et crée de la confusion.

Mentionnons également que le dédoublement de services, une nouvelle méthode de distribution des données, ainsi que la promotion de propriétés par des courtiers hors province, non régis par la loi sur le courtage immobilier du Québec, mettant à risque les consommateurs, ont été quelques-uns des facteurs déterminants dans la décision de la CIGM.

Il est à noter que la Chambre immobilière de Québec, à l’instar d’autres chambres l’an dernier, a également confirmé son retrait de l’ACI cette semaine.

Centris.ca: Un guichet unique et performant

Centris.ca est le site Web de l’industrie immobilière québécoise destiné aux consommateurs, où toutes les propriétés à vendre par les courtiers immobiliers au Québec sont réunies à la même adresse. Avec la décision prise par la CIGM, Centris.ca continuera d’être un accès de choix pour les consommateurs à la recherche d’une propriété.

« Centris.ca offre aujourd’hui une excellente visibilité pour tous les types de propriétés. Nos analyses démontrent d’ailleurs que les propriétés situées à Montréal sont facilement retrouvées par les internautes un peu partout à travers le monde », a conclu Patrick Juanéda.

Le réseau de collaboration des courtiers

La décision annoncée aujourd’hui n’aura aucun impact sur la visibilité des propriétés à vendre dans la grande région de Montréal. Le système de collaboration entre courtiers, qui permet à tous les courtiers du Québec de partager leurs inscriptions et leur rémunération, reste inchangé. Cette plateforme, communément appelée « système MLS », ne change pas et continuera de permettre la collaboration entre les quelque 14 000 courtiers de la province. Ce système unique au Québec et exclusif aux courtiers assure la meilleure visibilité possible aux consommateurs.

À propos de la Chambre immobilière du Grand Montréal

La Chambre immobilière du Grand Montréal est une association à but non lucratif qui compte près de 10 000 membres, courtiers immobiliers. Sa mission est de promouvoir et de protéger activement les intérêts professionnels et d’affaires de ses membres afin qu’ils accomplissent avec succès leurs objectifs d’affaires.



Residential Real Estate Market Remained Stable in the Montreal Area in November

Île-des-Sœurs, December 9, 2013 – The Greater Montréal Real Estate Board (GMREB) today released its residential sales statistics for the Montréal Census Metropolitan Area (CMA). According to the real estate brokers’ Centris® provincial database, 2,629 residential sales transactions were concluded in November 2013, a 1 per cent increase compared to November of last year.

"Single-family home sales registered solid results in November, thanks to increases in the suburbs, particularly on the South Shore and in Vaudreuil-Soulanges which posted respective increases of 14 and 21 per cent," said Diane Ménard, Vice-President of the GMREB Board of Directors.

In contrast, both condominiums and plexes registered a decrease in sales, particularly plexes, which posted a 10 per cent drop in sales compared to last November.

The only areas that registered an increase in sales in November 2013 were the South Shore and Vaudreuil-Soulanges, at 13 per cent and 17 per cent, respectively.

The median price of single-family homes across the CMA rose by 1 per cent in November 2013 to reach $278,000. It remained stable on the South Shore and in Vaudreuil-Soulanges, increased by 3 per cent in Laval and on the North Shore, and fell by 5 per cent on the Island of Montréal. As for the median price of condominiums, it registered a 3 per cent decrease in November, reaching $233,000.

Market conditions for single-family homes remained balanced across the CMA. Vaudreuil-Soulanges was the only area where the single-family home market gave buyers an advantage, while sellers still had the upper hand only in Laval.

As at November 30, 2013, there were 30,955 active listings in the Centris® system, up 9 per cent compared to the same period last year and the 39th consecutive monthly increase.

Note that, as has been the case since January 2012, condominiums once again registered the largest increase in active listings. However, November’s increase of 13 per cent is slightly smaller than that observed last month.



 

Property Price Index for November 2013

Price Growth Strengthened in October Despite a Slight Decrease in Residential Sales

Île-des-Sœurs, November 7, 2013 – The Greater Montréal Real Estate Board (GMREB) today released its residential sales statistics for the Montréal Census Metropolitan Area (CMA). According to the real estate brokers' Centris® provincial database, 2,684 residential sales transactions were concluded in October 2013, a 3 per cent decrease compared to October of last year. Despite this slight decrease in the number of residential transactions, price growth across the CMA has strengthened.

"Median prices increased in October 2013 as compared to October 2012, and this applies to all three property categories," said Diane Ménard, Vice-President of the GMREB Board of Directors. "For condominiums, this was the largest increase in median price since the start of 2013," she added.

As for the 3 per cent decrease in sales that was observed in October, it came on the heels of two consecutive monthly sales increases. All three property categories registered a drop in sales in October, with single-family homes posting the largest decrease at 4 per cent.

The only two main areas of the CMA to register an increase in sales in October 2013 were the Island of Montréal at 1 per cent and Vaudreuil-Soulanges at 7 per cent.

Market conditions stabilized in October for all property categories across the CMA. Overall, the single-family home market and the plex market were balanced, while the condominium market gave buyers the upper hand. For single-family homes, Vaudreuil-Soulanges was the only area where buyers had the advantage, while sellers had the upper hand in Laval.

As at October 31, 2013, there were 30,676 active listings in the Centris® system, up 11 per cent compared to the same period last year and the 38th consecutive monthly increase. However, this was the smallest increase since February 2013. "Although the number of active listings continues to rise, the pace at which it is increasing is slowing down, particularly for condominiums," said Paul Cardinal, Manager of the Market Analysis Department at the Québec Federation of Real Estate Boards. "In October, this property category registered its smallest increase in active listings in 17 months," he added.

 

Property Price Index for October 2013

Second Consecutive Increase in Residential Sales in September 2013

Île-des-Sœurs, October 9, 2013 – The Greater Montréal Real Estate Board (GMREB) today released its residential sales statistics for the Montréal Census Metropolitan Area (CMA). According to the real estate brokers' Centris® provincial database, 2,393 residential sales transactions were concluded in September 2013, an 8 per cent increase compared to September 2012 and the second consecutive increase in sales following last month's rise of 3 per cent.

"All three property categories registered an increase in sales in the Montréal CMA, for the first time since May 2012," said Diane Ménard, Vice-President of the GMREB Board of Directors. "Plexes took the lead with an 18 per cent jump in sales compared to September of 2012," she added.

Condominium sales registered their second consecutive increase in September 2013, growing by 13 per cent. And finally, after being the only property category to register a decrease in sales in July and an unchanged sales level in August, single-family homes registered a 4 per cent increase in sales compared to September of last year.

Geographically, with respective increases of 12 and 27 per cent, the Island of Montréal and the South Shore were the only two areas to experience sales growth in September 2013. This was the second consecutive increase for both of these areas. "These results are quite impressive at first glance but they must be put into perspective, given the steep decrease in sales that was observed in these areas last September," said Paul Cardinal, Manager of the Market Analysis Department at the Québec Federation of Real Estate Boards.

Despite the increase in condominium sales, market conditions continued to relax in September, with buyers having the upper hand in all areas of the CMA. For single-family homes, market conditions generally remained balanced but buyers were favoured in the area of Vaudreuil-Soulanges, while sellers had the upper hand in Laval. Finally, for plexes, market conditions remained unchanged compared to last month and remained balanced across the CMA.

As at September 30, 2013, there were 29,790 active listings in the Centris® system, up 12 per cent compared to the same period last year and the 37th consecutive monthly increase. The supply of condominiums increased by 16 per cent, a slightly smaller increase than those registered in recent months. For a second consecutive month, the increase in condominium listings was smallest on the Island of Montréal, at 11 per cent. In contrast, the largest increase in condominium listings was in the northern suburbs of Montréal (Laval and North Shore), at 33 per cent.

 

Property Price Index for September 2013

First Increase in Residential Sales Since July 2012

Île-des-Sœurs, September 9, 2013 – The Greater Montréal Real Estate Board (GMREB) today released the residential sales statistics for the Montréal Census Metropolitan Area (CMA). According to the real estate brokers' Centris® provincial database, 2,391 residential sales transactions were concluded in August 2013, a 3 per cent increase compared to August 2012.

"August 2013 was the first month that we could compare results between two periods that were affected by the tightening of the mortgage insurance rules implemented in July 2012," said Diane Ménard, Vice-President of the GMREB Board of Directors. "Remember that this change limited the maximum amortization period of new insured loans to 25 years rather than 30 years, which has had a significant impact on the real estate market. So, we are pleased to see that the Montréal area real estate market is gaining strength one year after the implementation of these new rules," she added.

While single-family homes were the only property category to register an increase in sales in July of this year, August saw a stabilization in single-family home sales. However, condominium sales increased by 9 per cent and plex sales grew by 5 per cent.

"On the Island of Montréal, condominium sales increased by 17 per cent, while on the South Shore they increased by 10 per cent," said Paul Cardinal, Manager of the Market Analysis Department at the Québec Federation of Real Estate Boards. "This was the best month of August in both these areas since 2009, when activity on the residential real estate market increased significantly at the end of the recession," he added.

Despite the increase in sales, condominium market conditions continued to ease in August in all areas of the CMA and markets in each of the major areas currently favour buyers. For single-family homes and plexes, market conditions remained similar to those of June and July, meaning a balanced market. Vaudreuil-Soulanges is the only area with a single-family home market that favours buyers, while the Laval market continues to favour sellers.

The median price of single-family homes grew by 2 per cent in the Montréal CMA in August 2013, while the median price of condominiums increased by 3 per cent compared to August 2012. In fact, since the beginning of 2013, fluctuations in the median price of condominiums have shown a saw-tooth kind of pattern with slight increases and decreases. Nevertheless, the cumulative median price of condominiums for this year is stable compared to the cumulative prices of 2012. The median price of plexes increased by 5 per cent across the CMA in August.

As at August 31, 2013, there were 29,083 active listings in the Centris® system, up 16 per cent compared to the same period last year and the 36th consecutive monthly increase. By property category, the supply of condominiums increased by 23 per cent in August, which is similar to the increases observed in June and July (23 and 24 per cent, respectively). It is on the Island of Montréal that the increase in condominium listings was the smallest, at 17 per cent, while Laval registered the largest increase at 51 per cent.

 

Property Price Index for August 2013

Single-Family Home Sales Increase for First Time in One Year!

Île-des-Sœurs, August 7, 2013 – The Greater Montréal Real Estate Board (GMREB) has released its residential sales statistics for July 2013. Results from the real estate brokers' Centris® provincial database indicate that 2,564 residential sales, including 1,560 single-family home transactions and 751 condominium transactions, were concluded in July in the Montréal Census Metropolitan Area (CMA). It is important to note that sales of single-family homes grew by 3 per cent compared to July 2012, the first increase in one year.

"The increase in single-family home sales in July was interesting to observe," said Diane Ménard, Vice-President of the GMREB Board of Directors. "It does not yet represent widespread sales growth, as the increase in single-family home sales was primarily due to strong performances on the North Shore (+10 per cent) and on the Island of Montréal (+7 per cent). Brokers working in these two areas, which continue to experience a significant level of activity, have observed a high level of enthusiasm for this property category," she added.

In addition to single-family homes, plex sales remained stable (0 per cent) and condominium sales decreased by 13 per cent compared to July of last year.

Geographically, of the five main areas of the Montréal CMA, only the North Shore registered an increase in sales in July, mainly due to the performance of single-family homes. This was the first increase in eight months in this area.

In terms of prices, the median price of single-family homes grew by 3 per cent, while that of condominiums fell by 2 per cent and that of plexes decreased by 5 per cent across the CMA in July 2013.

"Market conditions continued to relax in July for condominiums and plexes," said Paul Cardinal, Manager, Market Analysis, at the Québec Federation of Real Estate Boards. "For single-family homes, market conditions remained balanced and the average selling time was only 78 days in the Montréal CMA in July, which is relatively short. It is even a slight decrease compared to July of last year, which was the first drop in more than two years," he added.

Active Listings

As at July 31, 2013, there were 28,705 active listings in the Centris® system, up 16 per cent compared to the same period last year and the 35th consecutive monthly increase. While all property categories registered a significant increase in active listings, condominiums stood out once again, jumping by 24 per cent. Active listings of single-family homes and plexes posted respective increases of 10 and 13 per cent.

For a twelfth consecutive month, the number of active listings of single-family homes registered the largest increase on the Island of Montréal, at 20 per cent. In contrast, the supply of single-family homes increased by only 3 per cent on the North Shore. The situation for condominiums was quite the opposite, as the increase in active listings was smallest on the Island of Montréal, at 18 per cent, but jumped by 47 per cent in Laval, 40 per cent in Vaudreuil-Soulanges and 33 per cent on the North Shore.

 

Property Price Index for July 2013

Condominiums: Increase in Median Price and Smaller Decrease in Sales

Île-des-Sœurs, July 8, 2013 – According to the real estate brokers' Centris® provincial database, there were 3,205 residential sales transactions, including 993 condominium transactions, in the Montréal Census Metropolitan Area (CMA) in June 2013, said the Greater Montréal Real Estate Board (GMREB). For condominiums, this was the first increase in median price since the start of the year and the smallest decrease in sales since July 2012.

"Condominium sales in the CMA fell by 6 per cent in June 2013, the smallest drop in sales since July 2012 when the most recent tightening of mortgage rules came into force which limit the maximum amortization period to 25 years," said Diane Ménard, Vice-President of the GMREB Board of Directors. "It's important to note the impressive 10 per cent increase in condominium sales on the South Shore, even though all other areas registered a drop in sales in June 2013," she added.

All three property categories registered a decrease in sales in June 2013 as compared to June 2012. Single-family home sales were down by 9 per cent, plex sales decreased by 7 per cent and condominium sales fell by 6 per cent.

By geographic area, only Vaudreuil-Soulanges registered an increase in sales in June, at 1 per cent. Sales in Laval slipped by 12 per cent, while on the Island of Montréal sales dropped by 9 per cent. The North Shore registered an 8 per cent decrease in sales, while the South Shore posted a 6 per cent decrease.

As for the median price of single-family homes, it increased by 2 per cent across the CMA in June 2013. The Island of Montréal ($386,000), the North Shore ($240,000) and Vaudreuil-Soulanges ($272,000) all registered a 2 per cent increase, while Laval ($290,000) and the South Shore ($272,000) both posted a 1 per cent increase in the median price of single-family homes compared to June of last year.

The median price of condominiums grew by 4 per cent on the North Shore ($179,950), by 2 per cent on the Island of Montréal ($275,000) and by 1 per cent in Laval ($215,000). The South Shore ($185,000) was the only area that registered a drop in the median price of condominiums, at 1 per cent.

"The increase in the median price of condominiums in June, albeit modest, was the first in six months in the Montréal Metropolitan Area," said Paul Cardinal, Manager, Market Analysis, at the Québec Federation of Real Estate Boards. "In addition, several indicators, for both new constructions and resales, suggest that market conditions for condominiums are stabilizing," he added.

As at June 30, 2013, there were 29,676 active listings in the Centris® system, up 15 per cent compared to the same period last year. Once again, the increase in active listings was most noticeable for condominiums (23 per cent). The increase in supply was more moderate for plexes (12 per cent) and single-family homes (10 per cent).

Geographically, the increase in the number of active listings was largest on the Island of Montréal (+19 per cent), in Vaudreuil-Soulanges (+18 per cent) and in Laval (+16 per cent). The South Shore and North Shore follow with respective increases of 13 and 8 per cent.

 

Property Price Index for June 2013

Real Estate Market: North Shore Fared Well Despite Ongoing Slowdown

Île-des-Sœurs, June 7, 2013 – According to the real estate brokers' Centris® provincial database, there were 4,288 residential sales transactions concluded in the Montréal Census Metropolitan Area (CMA) in May 2013, said the Greater Montréal Real Estate Board (GMREB). This represents an 8 per cent decrease compared to May 2012 and the smallest drop in sales in the past seven months. The North Shore performed well with a 5 per cent decrease in sales.

"The North Shore registered the smallest decrease in sales for the fourth consecutive month," said Diane Ménard, Vice-President of the GMREB Board of Directors. "In a context where some buyers had to revise their budget due to the new mortgage rules, the North Shore continues to benefit from the fact that it is the most affordable area in the Montréal region," she added.

All three property categories registered a drop in sales in May 2013 as compared to May 2012. Sales of single-family homes and plexes fell by 7 per cent, while condominium sales decreased by 12 per cent.

All five main areas of the Montréal CMA registered a decrease in sales in May 2013. While the North Shore posted the smallest drop at 5 per cent, sales in Vaudreuil-Soulanges, the South Shore and Montréal decreased by 7, 8 and 9 per cent, respectively. Laval registered a 14 per cent drop in sales.

The median price of single-family homes grew by 4 per cent across the CMA in May, the largest increase since December 2012. By area, the South Shore led the way with a 6 per cent increase ($279,900) followed by Laval with a 5 per cent increase ($290,000), Vaudreuil-Soulanges with a 3 per cent increase ($268,000) and the North Shore with a 2 per cent increase ($240,000). On the Island of Montréal ($380,000), the median price of single-family homes remained unchanged compared to May of last year.

The median price of condominiums remained unchanged (0 per cent) in May in the Montréal CMA. A slight decrease of 1 per cent was registered on the Island of Montréal ($274,000) and in Laval ($208,000), but this was compensated by increases of 3 per cent on the North Shore ($175,000) and 4 per cent on the South Shore ($189,500).

"Condominium prices have stabilized since the start of the year in the Montréal Metropolitan Area," noted Paul Cardinal, Manager, Market Analysis, at the Québec Federation of Real Estate Boards. "Despite a slight excess in supply, construction of new condominiums has slowed considerably in recent months, which could lead to a rebalancing of this market segment in the near future," he added.

As at May 31, 2013, there were 32,603 active listings in the Centris® system, up 16 per cent compared to the same period last year. Once again, the increase in active listings was most noticeable for condominiums (28 per cent). The increase in supply was more moderate for plexes (12 per cent) and single-family homes (10 per cent).

Geographically, the increase in the number of active listings was largest on the Island of Montréal (+25 per cent) and in Laval (+23 per cent), while Vaudreuil-Soulanges, the South Shore and the North shore registered respective increases of 16, 11 and 6 per cent.



MLS® Home Price Index for May 2013

Montréal Area Registers Smallest Decrease in Residential Sales in the Past Six Months

Île-des-Sœurs, May 8, 2013 – According to the real estate brokers' Centris® provincial database, there were 4,605 residential sales transactions concluded in the Montréal Census Metropolitan Area (CMA) in April 2013, said the Greater Montréal Real Estate Board (GMREB). Although this represents an 11 per cent decrease compared to April 2012, it was the smallest drop in sales in the past six months.

"Sales have decreased every month since the entry into force of the new mortgage rules last July," said Diane Ménard, Vice-President of the GMREB Board of Directors. "Despite the drop in sales, April 2013 was a better month than that of April 2011, when 4,474 transactions were concluded," she added.

All three property categories registered a similar decrease in sales in April 2013. Sales of single-family homes fell by 11 per cent, condominium sales dropped by 10 per cent and plex sales slipped by 13 per cent compared to April of last year.

All five main areas of the Montréal CMA registered a decrease in sales in April 2013 compared to April 2012. The largest decreases, for a second consecutive month, were in Laval (-20 per cent) and Vaudreuil-Soulanges (-13 per cent), while the North Shore (-7 per cent) and South Shore (-6 per cent) posted the smallest decreases. Sales on the Island of Montréal fell by 12 per cent.

As for the median price of single-family homes, Laval ($285,000), the South Shore ($270,000) and the North Shore all registered an increase of 2 per cent, while the Island of Montréal ($380,000) registered a 1 per cent increase. The median price of single-family homes remained stable in Vaudreuil-Soulanges ($270,000) compared to April 2012.

As at April 30, 2013, there were 33,099 active listings in the Centris® system, up 16 per cent compared to the same period last year. Once again, the increase in active listings was most noticeable for condominiums (29 per cent). The increase in supply was more moderate for single-family homes (8 per cent) and plexes (12 per cent).

Geographically, the increase in the number of active listings was largest on the Island of Montréal (+26 per cent) and in Laval (+21 per cent). Vaudreuil-Soulanges, the South Shore and the North shore registered respective increases of 14, 9 and 4 per cent.

Indice des prix des propriétés MLS®

Voici les données pour mars 2013 :

Montréal Real Estate Market has Something for Both Buyers and Sellers

Île-des-Sœurs, April 8, 2013 – According to the real estate brokers' Centris® provincial database, the market for single-family homes continued to favour sellers, while that of condominiums gave buyers the upper hand, said the Greater Montréal Real Estate Board (GMREB).

"Market conditions for condominiums have been relaxing quickly in recent months," said Diane Ménard, Vice-President of the GMREB Board of Directors. "In early 2012, the condominium market still advantaged sellers slightly, but after a short period in balanced territory the condominium market is now a buyer's market, both on the Island of Montréal and in the suburbs," she added.

The number of sales concluded in the Montréal Census Metropolitan Area (CMA) decreased by 17 per cent in March 2013 compared to March 2012, with a total of 4,435 transactions. The drop in sales in Greater Montréal began with the entry into force, last July, of the most recent tightening of mortgage rules.

Sales fell for all property categories in March 2013 compared to March of last year. Single-family home sales decreased by 15 per cent, condominium sales fell by 18 per cent and that of plexes by 24 per cent.

The drop in sales in March 2013 was felt in all five main areas of the Montréal CMA. Sales decreased by 36 per cent in Vaudreuil-Soulanges, by 23 per cent in Laval and by 20 per cent on the Island of Montréal. The North Shore and South Shore registered smaller drops at 9 and 10 per cent, respectively.

As for the median price of single-family homes, Vaudreuil-Soulanges ($285,450) led the way with a 7 per cent increase compared to March 2012, followed by the South Shore ($274,500) with a 5 per cent increase, the Island of Montréal ($370,000) with a 3 per cent increase and the North Shore ($235,000) with a 1 per cent increase. The median price of single-family homes in Laval ($290,000) remained stable compared to March of last year.

In the Montréal CMA as a whole, single-family homes ($275,000) and plexes ($417,000) both registered a 1 per cent increase in median price compared to March 2012. The median price of condominiums ($222,000) fell by 1 per cent.

As at March 31, 2013, there were 32,934 active listings in the Centris® system, up 12 per cent compared to the same period last year. The largest increase was for condominiums, as the number of active listings for this property category grew by 25 per cent. Geographically, the Island of Montréal (+22 per cent) registered the largest increase, while it was barely noticeable on the North Shore (+1 per cent).




MLS® Home Price Index for March 2013

Laval and North Shore Performed Best in Slower Real Estate Market

Île-des-Sœurs, March 11, 2013 – According to the real estate brokers' Centris® provincial database, the number of sales in the Montréal Census Metropolitan Area (CMA) in February 2013 decreased by 22% as compared to number of sales in February 2012, said the Greater Montréal Real Estate Board (GMREB).

"The slowdown of residential sales in February occurred for all property categories and all regions of the Montréal CMA" stated Patrick Juanéda, Chairman of the GMREB Board of Directors. "However, the North Shore of Montreal registered the lowest decrease of the number of sales. Furthermore, the number of active listings remained stable in this region along with balanced market conditions and registered the greatest increase of the median price for both single-family homes and condominiums," he added.

A total of 3,415 sales took place in February 2013, the lowest level for the month of February since 2009. All property categories showed a decrease in the number of transactions as compared to February 2012. Single-family homes registered a 22% decrease, condominiums a decline of 23% while plexes posted a 25% reduction.

The decline in residential sales from February 2012 to 2013 was felt by all five major regions of the Montréal CMA. Whereas Vaudreuil-Soulanges decreased by 42%, the Island of Montréal posted a 28% decrease and the South Shore a drop of 21%. Laval and the North Shore registered the smallest decreases, respectively 14% and 12%.

In terms of prices, single-family homes registered a 2% increase ($270,000) of the median price as compared to February 2012, and plexes increased by 6% ($435,000). The median price of condominiums ($219,000) remained stable.

"Across the Montréal Metropolitan Area, the number of active listings increased by 10% as compared to February 2012," said Paul Cardinal, Market Analysis Manager at the Québec Federation of Real Estate Boards. "The increase in active listings was especially observed on the Island of Montréal while the increases were more moderate in the other major regions. This increase of active listings is largely due to the fact that the properties remain on the market for a longer time. In fact, all property categories posted longer average selling times than in February 2012. In total, more than 31,000 residential properties were available to buyers last February in the Montréal area."




MLS® Home Price Index for February 2013

Year Ends With a Drop in Sales

Île-des-Sœurs, January 22, 2013 – According to the real estate brokers’ Centris ® provincial database, sales in the Montréal Census Metropolitan Area (CMA) decreased by 19 per cent in December 2012 compared to December of last year, said the Greater Montréal Real Estate Board (GMREB). This was the fifth consecutive monthly decrease in sales.

All of the Montréal CMA’s main areas registered a drop in sales in December. Sales fell by 39 per cent in Vaudreuil-Soulanges, by 20 per cent in Laval, by 19 per cent on the North Shore, by 18 per cent in Montréal and by 14 per cent on the South Shore.

In terms of sales by property category, single-family homes, condominiums and plexes all registered a decrease in sales compared to December of last year, with respective drops of 13, 29 and 18 per cent.

As for prices, the median price of single-family homes increased by 4 per cent ($271,000) compared to December 2011, while that of condominiums grew by 8 per cent ($240,000). The median price of plexes fell by 1 per cent to reach $402,000.

The number of active listings in the Montréal Metropolitan Area increased by 9 per cent over last December. In total, more than 25,000 residential properties were available to buyers in December 2012.




MLS ® Home Price Index for December 2012



Residential Real Estate Market: Sales Decrease and Prices Increase in November

Île-des-Sœurs, December 10, 2012 – According to the real estate brokers' Centris® provincial database, there were 2,632 residential transactions in the Montréal Census Metropolitan Area (CMA) in November 2012, a 19 per cent decrease compared to November 2011, said the Greater Montréal Real Estate Board (GMREB). However, the median price for all three property categories increased over the same period.

All property categories registered a decrease in sales in November 2012 compared to November 2011. Sales of single-family homes fell by 18 per cent, while condominium and plex sales both decreased by 20 per cent.

"The decrease in single-family home sales affected all price ranges," said Diane Ménard, Vice-President of the GMREB Board of Directors. "The decrease in condominium sales was most evident in the $100,000 to $200,000 price range, while sales actually increased for condominiums priced at $500,000 or more," she added.

The decrease in residential sales in November 2012 extended to all of the Montréal CMA's main areas. Compared to November 2011, sales fell by 15 per cent in Laval, by 17 per cent in Montréal and on the North Shore, by 25 per cent on the South Shore, and by 29 per cent in Vaudreuil-Soulanges.

In terms of prices, the median price of single-family homes increased by 3 per cent in the Montréal CMA in November 2012, reaching $277,000. The South Shore ($265,000) stood out with a 5 per cent increase in the median price of single-family homes, followed by the Island of Montréal ($383,000), Vaudreuil-Soulanges ($265,000) and the North Shore ($233,000), which all registered an increase of 1 per cent. Finally, Laval ($282,550) posted a 1 per cent decrease in the median price of single-family homes.

As at November 30, 2012, the number of active listings on the real estate brokers' provincial database increased by 10 per cent in comparison with the same date last year.

"The increase in active listings was more pronounced for condominiums," said Paul Cardinal, Market Analysis Manager at the Québec Federation of Real Estate Boards. "In the past year, the number of condominiums for sale was up 23 per cent, while single-family homes and plexes registered respective increases of 2 and 6 per cent. Market conditions were therefore more relaxed for condominium buyers," he added.



The MLS® Home Price Index November 2012





Residential Real Estate Sales Decreased by 7 Per Cent in October

Île-des-Sœurs, November 9, 2012 – According to the real estate brokers' provincial database, there were 2,789 residential transactions in the Montréal Census Metropolitan Area (CMA) in October 2012, a 7 per cent decrease compared to October 2011, said the Greater Montréal Real Estate Board (GMREB).

"The decrease in home sales in October extended to all property categories and to most areas of the Montréal CMA," said Diane Ménard, Vice-President of the GMREB Board of Directors. "However, the drop in sales was smaller than that of September, when sales fell by 17 per cent compared to September 2011," she added.

All three property categories registered a decrease in their number of transactions in October 2012 compared to October of last year. Condominium sales fell by 10 per cent, while sales of single-family homes and plexes both fell by 6 per cent.

The drop in residential sales affected four of the five areas of the Montréal CMA. Sales on the Island of Montréal and in Vaudreuil-Soulanges decreased by 14 per cent. Laval registered an 11 per cent drop in sales and the South Shore posted a 1 per cent decrease compared to October 2011. The North Shore stood out with a 5 per cent increase in sales.

In terms of prices, the Montréal CMA registered a 3 per cent increase in the median price of single-family homes in October 2012 to reach $275,000. The Island of Montréal ($380,000) led the way with a 6 per cent increase, followed by Laval ($280,000) and the North Shore ($235,000), which both posted a 4 per cent increase in the median price of single-family homes. The South Shore ($261,000) and Vaudreuil-Soulanges ($275,504) maintained the same median price as in October 2011.

"As for the median price of condominiums, the 2 per cent decrease in October is due in part to a composition effect, as the proportion of transactions on the Island of Montréal – where prices are higher – decreased in favour of the suburbs," said Paul Cardinal, Market Analysis Manager at the Québec Federation of Real Estate Boards. "The fact remains that some areas on the Island of Montréal and on the South Shore registered a decrease in condominium prices, while others in Laval and on the North Shore did not," he added.

As at October 31, 2012, the number of active listings on the MLS® system increased by 8 per cent in comparison with the same date last year.



The MLS® Home Price Index

Here is the MLS® HPI data for October 2012:






Condominium Market is Now Balanced in the Montréal CMA

Île-des-Sœurs, October 9, 2012 – According to the real estate brokers’ provincial database, the condominium market is now balanced in the Montréal Census Metropolitan Area (CMA), said the Greater Montréal Real Estate Board (GMREB).

“The condominium market has been a seller’s market since 2001 and now, for the first time, it has become a balanced market on the Island of Montréal,” said Diane Ménard, Vice-President of the GMREB Board of Directors. “The condominium market is even becoming increasingly closer to a buyer’s market on the North Shore of Montréal,” she added.

There were 2,228 sales transactions in the Montréal CMA in September 2012, a 17 per cent decrease compared to September 2011. The largest drops in sales were registered in the areas of Vaudreuil-Soulanges and on the Island of Montréal, where sales fell by 26 and 22 per cent, respectively. The South Shore follows with an 18 per cent decrease in sales, while both Laval and the North Shore posted a more moderate decrease, at 10 per cent.

All property categories registered a decrease in sales in September 2012 compared to September 2011. Sales of single-family homes fell by 16 per cent, the smallest decrease, while condominium sales dropped by 19 per cent and plex sales by 20 per cent.

As for the median price of single-family homes, the Montréal CMA registered an increase of 5 per cent in September 2012 to reach $280,000. Laval led the way with a 14 per cent increase in median price, at $298,000. Vaudreuil-Soulanges ($265,000) and the Island of Montréal ($385,000) posted respective increases of 5 and 4 per cent. The South Shore ($265,000) and the North Shore ($232,000) both registered a slight increase of 1 per cent in the median price of single family homes compared to September of last year.

“There was an unexpected 7 per cent increase in the median price of condominiums in September 2012. This can be explained by a sharper drop in sales of condominiums valued at less than $300,000, while sales of condominiums valued at more than $300,000 remained stable,” said Paul Cardinal, Market Analysis Manager at the Québec Federation of Real Estate Boards. “This indicates that the federal government’s recent tightening of mortgage rules had an impact on first-time buyers, as they were less active on the market,” he added.

As at September 30, 2012, the number of active listings on the MLS® system increased by 8 per cent in comparison with the same date last year.

 

First Drop in Sales in 15 Months

Île-des-Sœurs, September 10, 2012 – According to the Québec real estate brokers’ provincial database, sales in the Montréal Census Metropolitan Area (CMA) decreased by 7 per cent in August 2012 compared to August 2011, with 2,323 transactions, said the Greater Montréal Real Estate Board (GMREB).

“It could be that the effects of the federal government’s tightened mortgage rules, the most recent of which came into force this past July, are starting to be felt,” said Diane Ménard, Vice-President of the GMREB Board of Directors. “However, it’s too early to make this conclusion and we’ll have to see if this trend continues in coming months. Elsewhere in Canada, MLS® sales fell by 12.4% in Toronto and by 30.7% in Vancouver, where homeownership is more difficult than in Québec,” she added.

Sales decreased for all property categories in August 2012 compared to August 2011. Single-family homes registered the smallest decrease at 5 per cent, while sales of both condominiums and plexes fell by 8 per cent. Of the five main areas of the Montréal CMA, the North Shore was the only one to register an increase in sales in August 2012, at 1 per cent. Sales on the South Shore fell by 4 per cent, followed by the Island of Montréal at 5 per cent. Laval and Vaudreuil-Soulanges registered respective decreases of 20 and 21 per cent.

As for prices, the median price of single-family homes in the Montréal CMA increased by 4 per cent in August 2012 compared to August 2011, reaching $280,000. The Island of Montréal ($382,000) posted the largest increase in median price at 6 per cent, followed by the North Shore ($237,500) at 4 per cent, and by Laval ($283,000) and the South Shore ($270,000), both at 3 per cent. The median price of single-family homes in Vaudreuil-Soulanges ($263,000) fell slightly by 3 per cent compared to August 2011.

As at August 31, 2012, the number of active listings on the MLS® system increased by 7 per cent in comparison with the same date last year.

 

Single-Family Homes: Strongest Performer for 5th Straight Month

Île-des-Sœurs, August 7, 2012 – According to the Québec real estate brokers’ provincial database, sales in the Montréal Census Metropolitan Area (CMA) increased by 3 per cent in July 2012 compared to July 2011, with 2,643 transactions, said the Greater Montréal Real Estate Board (GMREB). In terms of sales by property category, single-family homes stood out with a 6 per cent increase in the number of properties sold.

“Sales of single-family homes posted a sixth consecutive monthly increase, outperforming condominiums for five straight months,” said Diane Ménard, Vice-President of the GMREB Board of Directors. “However, these results are a contrast to those that we’ve seen in recent years, as condominium sales outperformed single-family home sales every month between October 2009 and November 2011 inclusively,” she added.

Condominium sales did grow in July 2012 compared to July 2011, but with a more modest increase of 1 per cent, while plex sales fell by 9 per cent.

Among the five main areas of the Montréal CMA, Vaudreuil-Soulanges led the way with a 30 per cent increase in sales in July 2012, compared to July 2011. This was followed by the North Shore with a 16 per cent increase in sales and the South Shore with an 8 per cent increase. Laval took fourth place with a 6 per cent increase in sales, after ranking first last month. Finally, the Island of Montréal registered an 8 per cent decrease in sales compared to July of last year.

As for median prices, that of single-family homes remained stable in the Montréal CMA in July 2012 at $275,000. The median price of single-family homes grew by 3 per cent in both Laval ($280,000) and on the North Shore ($232,000), while it decreased by 2 per cent on the South Shore ($260,000) and in Vaudreuil-Soulanges ($255,000). The Island of Montréal posted the largest increase in median price, at 8 per cent ($385,000).

As at July 31, 2012, the number of active listings on the MLS® system increased by 8 per cent in comparison with the same date last year.

 

MLS® Sales Activity in the Suburbs More Dynamic Than on the Island of Montréal in the Past Three Months

Île-des-Sœurs, July 6, 2012 – Residential MLS® sales in the Montréal Census Metropolitan Area (CMA) increased by 1 per cent in June 2012 compared to June 2011, with a total of 3,496 transactions, according to the Greater Montréal Real Estate Board (GMREB). While sales have increased in the Montréal CMA for five consecutive months, it is the suburbs that have registered the largest increases in the past three months, with Laval leading the way.

“The area of Laval stood out once again for its dynamic sales activity,” said Diane Ménard, Vice-President of the GMREB Board of Directors. “With a total of 419 transactions in June 2012, Laval registered a 12 per cent increase in sales compared to June of last year, as well as the largest increase in median price of single-family homes,” she added.

Single-family homes were the only property category to register an increase in sales in the Montréal Metropolitan Area, growing by 5 per cent in June 2012 compared to June 2011, while sales of both condominiums and plexes fell by 5 per cent.

Of the five main regions of the Montréal CMA, the South Shore was the only area other than Laval to register an increase in sales in June 2012, growing by 7 per cent compared to June 2011, for its seventh consecutive monthly increase. Sales on the North Shore remained stable, while the Island of Montréal and Vaudreuil-Soulanges both posted a decrease in sales at 4 and 6 per cent, respectively.

As for median prices, we observed a 2 per cent increase in the median price of single-family homes on the Island of Montréal ($379,000), on the South Shore ($269,250) and in Vaudreuil-Soulanges ($268,151). On the North Shore, the median price of single-family homes increased by 1 per cent ($235,000) compared to June 2011, while once again, Laval led the way with a 3 per cent increase in median price ($289,000).

As at June 30, 2012, the number of active listings on the MLS® system increased by 9 per cent in comparison with the same date last year.

 

MLS® Sales: Record-Setting Month of May for Condominiums

Île-des-Sœurs, June 7, 2012 – Residential MLS ® sales in the Montréal Census Metropolitan Area (CMA) increased by 13 per cent in May 2012 compared to May 2011, with a total of 4,711 transactions, according to the Greater Montréal Real Estate Board (GMREB). The increase in sales was particularly strong for condominiums, as the 1,484 condominium transactions in May 2012 represent a 14 per cent increase compared to May of last year.

“May 2012 was more than a great month for condominiums; it set an all-time record for the month of May,” said Diane Ménard, Vice-President of the GMREB Board of Directors. “This increase in condominium sales is particularly significant, as it was the only property category to register an increase in sales in May 2011. We can see that condominiums continue to gain in popularity in the Montréal Metropolitan Area,” she added.

Sales of single-family homes also increased by 14 per cent in May 2012 compared to May 2011, while plex sales grew by 8 per cent, confirming that the real estate market in the Montréal Metropolitan Area remains strong.

Of the five main regions of the Montréal CMA, Laval posted the largest increase in sales at 21 per cent. This was followed by the North Shore and the South Shore with respective increases of 15 and 13 per cent, while sales on the Island of Montréal and in Vaudreuil-Soulanges grew by 11 per cent. This was the largest sales increase for a month of May in Vaudreuil-Soulanges in 12 years.

All three property categories registered an increase in median price in May 2012. The median price of single-family homes grew by 3 per cent to reach $275,000, that of condominiums also grew by 3 per cent to reach $227,000, while that of plexes increased by 8 per cent, reaching $420,000.

As at May 31, 2012, the number of active listings on the MLS ® system increased by 8 per cent in comparison with the same date last year.

 

April 2012: Many MLS® Sales Records Set in Montréal Metropolitan Area

Île-des-Sœurs, May 8, 2012 – Residential MLS® sales in the Montréal Census Metropolitan Area (CMA) increased by 16 per cent in April 2012 compared to April 2011, according to the Greater Montréal Real Estate Board (GMREB). This was the eleventh consecutive monthly increase in sales, and the second best result for a month of April after the record set in 2010.

“The April 2012 increase in sales in the Montréal CMA was the largest among the province’s six metropolitan areas,” said Diane Ménard, Vice-President of the GMREB Board of Directors. “It’s thanks to the strong performance of Montréal’s suburbs that residential sales increased so dramatically compared to the same month last year,” she added.

The area of Vaudreuil-Soulanges registered a 27 per cent increase in residential sales, its best result ever for a month of April. Sales on the South Shore grew by 26 per cent, rebounding from the same month last year when sales on the South Shore posted their largest decrease.

The North Shore and Laval also registered their second best month of April, with respective sales increases of 17 and 19 per cent. Last but not least came the Island of Montréal with a very respectable 8 per cent increase in MLS® sales.

In terms of property categories, single-family homes posted the best result as sales of this property category grew by 18 per cent (3,130 transactions), followed by condominiums at 14 per cent (1,589 transactions), and plexes at 12 per cent (472 transactions). The number of active listings for the entire Montréal CMA increased by 10 per cent in April 2012 compared to April in 2011, with a total of 28,632 residential properties for sale by a real estate broker. This was the largest supply of properties available for a month of April in eight years.

As for prices, all three property categories registered an increase in median price. The median price of single-family homes grew at a slower pace than in the three previous months, at 3 per cent, to reach $272,000. The increase in median price of condominiums was also more moderate at 2 per cent, reaching $223,950. The median price of plexes increased by 6 per cent to reach $412,000 in the Montréal Metropolitan Area.

 

MLS® Sales: Tenth Consecutive Month of Growth

Île-des-Sœurs, April 10, 2012 – Residential MLS® sales in the Montréal Metropolitan Area are still going strong and registered their tenth consecutive monthly increase in March 2012, according to the Greater Montréal Real Estate Board (GMREB). MLS® sales increased by 4 per cent compared to March 2011, making March 2012 the second best month of March on record, identical to March 2007.

“After holding the title of best-performing property category for many months, condominiums were dethroned by plexes, which posted an 8 per cent increase in sales in March,” said Diane Ménard, Vice-President of the GMREB Board of Directors. “In terms of active listings, real estate brokers have a very large supply of properties to present to their clients, as there are currently 29,000 homes for sale in the Montréal Metropolitan Area,” she added.

As for the different geographic areas, Vaudreuil-Soulanges (-6 per cent), the best-performing area from November 2011 to February 2012, ceded its place to the North Shore, where MLS® sales increased by 9 per cent. The South Shore and the Island of Montréal both registered a 4 per cent increase in sales, while sales in Laval remained stable compared to March 2011.

In terms of property categories, plexes took the lead with 530 sales, an 8 per cent increase compared to March of last year. After being the most popular property category for the past 23 months, condominiums posted a slight increase in sales of 2 per cent, with 1,657 transactions. Sales of single-family homes grew by 5 per cent with 3,173 transactions.

As for median prices, all three property categories posted an increase compared to March 2011. The median price of condominiums increased by 7 per cent to reach $225,000, the largest increase since May 2011. The median price of single-family homes grew by 5 per cent to reach $272,000, while that of plexes increased by 1 per cent to reach $414,500.

 

February 2012: MLS® Sales Steam Ahead!

Île-des-Soeurs, March 7, 2012 – The usual cold dreary days of February do not seem to have affected the real estate market. In fact, according to MLS ® data, the Greater Montréal Real Estate Board (GMREB) registered a 9% increase in sales throughout the Montréal Metropolitan Area as compared to February 2011. This marks the ninth consecutive increase and the strongest one since April 2010.

"Active listings grew by 13% in February with almost 29,000 residential properties for sale by real estate brokers in the Greater Montréal area," says Patrick Juanéda, President of the GMREB Board of Directors. "Consequently, consumers who are using the services of a broker have access to the largest inventory of properties for sale," added Mr. Juanéda.

The Vaudreuil-Soulanges region continued to lead the way with an overall 26% increase in residential sales for February 2012. The Laval and the South Shore regions are tied at second place with an 11% increase, followed by a 7% increase for the Island of Montréal and a 5% increase for the North Shore relative to the same period last year.

For the 23rd consecutive month, condominiums are the performance leader out of all property categories with 1,394 transactions, a 15% increase relative to February 2011. Single-family homes increased by 6% despite a slight 2% decrease in January 2012. Plexes registered a 7% increase.

As regards median prices, three property categories continue to do well. In fact, the median prices of single-family homes and plexes were up by 5% in February 2012 to $266,000 and $411,500, respectively. The median price of condominiums grew by 2% to reach $219,295.

 

January 2012: Year Begins on a Positive Note

Île-des-Sœurs, February 6, 2012 – MLS® sales in the Montréal Metropolitan Area increased by 1 per cent in January 2012 compared to January 2011, according to the Greater Montréal Real Estate Board (GMREB). This was the eighth consecutive increase in existing-home sales.

“The Vaudreuil-Soulanges area stood out for a fourth consecutive month with a 25 per cent increase in MLS® sales,” said Diane Ménard, Vice-President of the GMREB Board of Directors. “This was a new sales record for a month of January,” she added.

In addition to Vaudreuil-Soulanges, two other main regions in the Montréal Metropolitan Area posted an increase in sales. The South Shore registered a 5 per cent increase in sales and the North Shore saw a 2 per cent increase in its number of transactions. The Island of Montréal and Laval both posted a drop in sales compared to January 2011, at 2 and 11 per cent, respectively.

While sales of single-family homes decreased slightly by 1 per cent, condominium sales continued to gain momentum with an increase of 3 per cent. In fact, January 2012 was the 22nd consecutive month in which condominium sales outperformed the other property categories. Plex sales increased by 2 per cent in January 2012 compared to the same period last year.

As for prices, all three property categories registered an increase in median price in January 2012 compared to January 2011. The median price of single-family homes reached $262,500 (+4 per cent), that of condominiums reached $220,000 (+5 per cent) and that of plexes reached $399,500 (+3 per cent).

The number of active listings throughout the Montréal Metropolitan Area increased by 11 per cent compared to January 2011. In total, more than 26,000 residential properties were available to buyers in January, the most generous supply of properties in the past five years.

 

December 2011: Year Ends With an Increase in Sales

Île-des-Sœurs, January 24, 2012 – MLS® sales in the Montréal Metropolitan Area increased by 7 per cent in December 2011 compared to December 2010, according to the Greater Montréal Real Estate Board (GMREB). This was the seventh consecutive monthly increase in existing-home sales.

Among the main geographic areas, Vaudreuil-Soulanges led the way with a 39 per cent increase in sales. Sales increased by 28 per cent on the North Shore, by 9 per cent in Laval and by 2 per cent on the South Shore. Only the Island of Montréal registered a decrease in sales, at 4 per cent.

Sales increased for all property categories. Sales of single-family homes topped the list in December with an 8 per cent increase, followed by condominiums at 6 per cent and plexes at 3 per cent.

In terms of prices, single-family homes posted a 1 per cent decrease in median price compared to December 2010 to reach $260,000. The median price of condominiums increased by 2 per cent to reach $222,000, while that of plexes grew by 5 per cent, reaching $405,950.

The number of active listings throughout the Montréal Metropolitan Area increased by 13 per cent compared to December of last year. In total, close to 23,000 residential properties were available to buyers in December. The South Shore stood out with the largest increase in number of active listings (+22 per cent), but all other areas also registered an increase. By property category, the number of condominium listings grew by 21 per cent, the number of plex listings grew by 17 per cent and that of single-family homes by 12 per cent.

 

November 2011: MLS® Sales Increase Again

Île-des-Sœurs, december 7, 2011 – MLS® sales in the Montréal Metropolitan Area increased by 3 per cent in November 2011 compared to November 2010, according to the Greater Montréal Real Estate Board (GMREB). This was the sixth consecutive increase in existing-home sales.

“November was an excellent month for the Montréal area real estate market,” said Diane Ménard, Vice-President of the GMREB Board of Directors. “The market has been particularly active since the early summer, which benefits both buyers and sellers,” she added.

Sales increased in all five of the main geographic areas in November 2011, except for the South Shore. Vaudreuil-Soulanges led the way with a 26 per cent increase in the number of transactions. Sales on the North Shore increased by 3 per cent, while sales in Laval and on the Island of Montréal grew by 2 per cent. Sales on the South Shore remained stable compared to November 2010.

Condominiums stood out once again in November 2011, as sales of this property category increased by 6 per cent compared to the same month last year. Condominium sales on the Island of Montréal (+7 per cent) and on the North Shore (+5 per cent) were primarily responsible for this increase. Meanwhile, sales of single-family homes increased by 1 per cent and plex sales grew by 3 per cent.

In terms of prices, all three property categories posted a 4 per cent increase in median price in November 2011 compared to November 2010. The median price of single-family homes reached $270,000, that of condominiums reached $226,750 while that of plexes hit $400,000.

In the entire Montréal Metropolitan Area, the number of active listings increased by 15 per cent in November 2011 compared to November 2010. In total, close to 26,000 residential properties were available to buyers. The South Shore posted the largest increase in the number of active listings (+21 per cent), but all other areas also posted an increase. In terms of property categories, condominiums posted the largest increase in the number of active listings in November 2011 at 20 per cent, followed by plexes at 17 per cent and single-family homes at 10 per cent.

 

October: Best Month Since the Start of the Year for Existing-Home Sales

Île-des-Sœurs, november 08, 2011 –MLS® sales in the Montréal Metropolitan Area increased by 7 per cent in October 2011 compared to October 2010, according to the Greater Montréal Real Estate Board (GMREB). This was the largest increase in existing-home sales since the start of the year.

“It’s a good time to buy a property,” said Diane Ménard, Vice-President of the GMREB Board of Directors. “Mortgage rates are still low and the inventory of properties available on the market is increasing, which gives buyers more choice. Consumers are also taking a bit more time to buy, as shown by market conditions which are now balanced in many areas,” she added.

All five of the main geographic areas registered an increase in sales, except for the South Shore. Laval led the way with a 12 per cent increase, followed closely by the Island of Montréal and the North Shore, which posted respective increases of 10 and 9 per cent. Sales in Vaudreuil-Soulanges grew by 4 per cent while sales on the South Shore fell again, decreasing by 2 per cent compared to October 2010.

For a sixth consecutive month, there was a marked increase in condominium sales, which grew by 13 per cent in October 2011 compared to October 2010. Sales of single-family homes increased by 5 per cent, while plex sales grew by 6 per cent.

As for prices, plexes took the lead with an 8 per cent increase in median price compared to October 2010, reaching $410,000. The median price of condominiums increased by 5 per cent to reach $228,900, while that of single-family homes increased by 3 per cent to reach $268,000. For single-family homes, this was the smallest increase since September 2010.

The number of active listings in the entire Montréal Metropolitan Area increased by 15 per cent in October 2011 compared to October 2010. This was the 14th consecutive monthly increase, but was smaller than those registered in past months. The number of properties for sale increased by 13 per cent on the Island of Montréal, by 14 per cent on the North Shore, by 24 per cent on the South Shore and by 20 per cent in Vaudreuil-Soulanges.

In terms of property categories, plexes posted the largest increase in the number of active listings at 19 per cent. Condominiums followed closely with an 18 per cent increase, while the number of single-family homes listed on the MLS® system increased by 13 per cent compared to October 2010.

 

Montréal Area Real Estate Market Remains Active in September

Île-des-Sœurs, october 12, 2011 – MLS® sales in the Montréal Metropolitan Area increased by 1 per cent in September 2011 compared to September 2010, according to the Greater Montréal Real Estate Board (GMREB). This fourth consecutive increase in sales was particularly strong on the Island of Montréal.

“Sales were most dynamic on the Island of Montréal and in Laval compared to September 2010,” said Diane Ménard, Vice-President of the GMREB Board of Directors. “In fact, the number of transactions increased by 8 per cent on the Island of Montréal and by 5 per cent in Laval. For the Island of Montréal, this was the second busiest month of September in over 10 years,” she added.

Sales decreased on the North Shore (-2 per cent), on the South Shore (-8 per cent) and in Vaudreuil-Soulanges (-6 per cent) compared to September 2010.

Once again, the increase in sales in the Montréal Metropolitan Area can be attributed to the performance of condominiums. Sales of condominiums were particularly vibrant in Laval (+40 per cent) and on the Island of Montréal (+10 per cent). The North Shore also contributed to this increase but on a more modest scale, at 1 per cent. Conversely, the South Shore posted an 11 per cent decrease in condominium sales in September 2011. As for single-family homes, sales in the Montréal Metropolitan Area decreased by 1 per cent compared to September 2010, while plex sales fell by 6 per cent.

In terms of prices, the median price of single-family homes in the Montréal area reached $266,750 in September 2011, a 6 per cent increase compared to September of last year. The median price of plexes also posted a 6 per cent increase to reach $400,000, while that of condominiums increased by 2 per cent, reaching $220,000, the most modest increase since July 2009.

The number of active listings for the entire Montréal Metropolitan Area increased by 15 per cent in September 2011 compared to the same month last year. Although this was the thirteenth consecutive increase, it was smaller than those observed in the past five months, which ranged between 17 and 19 per cent. The largest increases were registered on the South Shore (+24 per cent) and in Vaudreuil-Soulanges (+16 per cent). By property category, there were 13,621 single-family homes for sale on the market (+13 per cent), 8,140 condominiums (+18 per cent) and 2,521 plexes (+20 per cent).

 

Condominiums Were Big Winners Again in August 2011

Île-des-Sœurs, August 10, 2011 –MLS®sales in the Montréal Metropolitan Area increased by 5 per cent in August 2011 compared to August 2010, according to the Greater Montréal Real Estate Board (GMREB). This third consecutive increase in sales in the Montréal area was primarily due to the vitality of condominium sales, which increased by 9 per cent in August.

“Condominium sales increased in all areas of Greater Montréal,” said Diane Ménard, Vice-President of the GMREB Board of Directors. “The undeniable popularity of condominiums continues to grow, as evidenced by the results of the past four months,” she added.

Condominium sales increased in all geographic areas, but Laval took the lead with a 33 per cent increase compared to August of 2010. Single-family homes also performed well in Greater Montréal, as sales grew by 4 per cent, while plex sales decreased slightly by 1 per cent compared to August of last year.

In terms of prices, the median price of condominiums reached $228,761 in the Montréal Metropolitan Area, a 6 per cent increase compared to last August. The median price of single-family homes also grew by 6 per cent to reach $270,000, while that of plexes increased by 3 per cent to reach $405,000.

The number of active listings in the Montréal Metropolitan Area increased by 17 per cent compared to August 2010. This increase is slightly smaller than those registered in July, June and May 2011. For a fifth consecutive month, the South Shore stood out for posting the largest increase in number of active listings, but increases were posted in all other geographic areas. In terms of property categories, plex (+ 22 per cent) and condominium (+ 23 per cent) listings had the largest jumps in August.

 

Condominium Sales Took the Lead in July 2011

Île-des-Sœurs, August 10, 201 – MLS ® sales in the Montréal Metropolitan Area increased by 6 per cent in July 2011 compared to July 2010, according to the Greater Montréal Real Estate Board (GMREB). This second consecutive increase in sales in the Montréal area was mainly due to the vitality of condominium sales, which increased by 19 per cent in July.

“Condominiums continued to be extremely popular in the Greater Montréal area,” said Diane Ménard, Vice-President of the GMREB Board of Directors. “Condominium sales in the Montréal area represented 77 per cent of all condominium transactions across the province in July, showing that it is primarily an urban phenomenon. Condominium sales in the Montréal area clearly surpassed sales of other property categories, as single-family home sales remained stable and plex sales increased by 6 per cent in July,” she added.

Condominium sales increased significantly in all areas of Greater Montréal in July 2011. The Island of Montréal, where condominiums represent close to 50 per cent of the market, posted the largest increase, at 23 per cent, compared to last year. The North Shore followed closely with a 22 per cent increase in condominium sales. Finally, the number of condominiums sold in Laval and on the South Shore increased by 15 and 11 per cent, respectively.

As for prices, increases were registered for all three property categories. The median price of single-family homes reached $275,000 in the Montréal area, a 7 per cent increase compared to last July. The median price of condominiums increased by 5 per cent in July 2011 to reach $232,000, while that of plexes grew by 6 per cent to reach $407,000.

As at July 31, 2011, 22,826 listings were active on the MLS ® system, an 18 per cent increase in comparison with the same date last year.

 

MLS® Sales Increase for First Time in 14 Months

Île-des-Sœurs, July 13, 2011 – There were 3,501 MLS® sales transactions in the Montréal Metropolitan Area in June 2011, a 5 per cent increase compared to June 2010, according to the Greater Montréal Real Estate Board (GMREB). This was the first increase in sales in the region in 14 months.

“The increase in sales in June is encouraging news but it must be interpreted with caution as we are comparing June 2011 results with those of June 2010, when sales had decreased by 20 per cent,” said Diane Ménard, Vice-President of the GMREB Board of Directors. “With this increase, sales in the Montréal area are approaching the levels that were seen in June 2007 and 2008, two prosperous years for the real estate market,” she added.

All property categories recorded an increase in sales in June 2011 in the Montréal area. Once again, condominiums led the way with a 12 per cent increase compared to June 2010, while sales of single-family homes grew by 1 per cent and that of plexes by 3 per cent.

Geographically, the Island of Montréal stood out with a 12 per cent increase in sales compared to June of last year. Condominiums led the way, as sales of this property category grew by 17 per cent. Sales were also up in Vaudreuil-Soulanges and on the North Shore, with respective increases of 5 and 3 per cent compared to June 2010. Sales on the South Shore and in Laval fell by 2 and 5 per cent, respectively.

As for prices, half of all single-family homes sold in the Montréal area in June 2011 sold at a price higher than $275,000, a 6 per cent increase compared to the same period last year. The median price of plexes also increased by 6 per cent to reach $409,000, while that of condominiums grew by 5 per cent to reach $223,750.

As at June 30, 2011, the number of active listings on the MLS ® system increased by 19 per cent in comparison with the same date last year.

 

Condominium Sales Pick Up in May

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Île-des-Sœurs, June 08, 2011 - There were 4,186 MLS® sales transactions in the Montréal Metropolitan Area in May 2011, a 4 per cent decrease compared to May 2010, according to the Greater Montréal Real Estate Board (GMREB). Despite this slight decrease in real estate activity, condominium sales actually increased by 4 per cent in May.

“The growing popularity of condominiums that we’ve seen in recent years is an urban phenomenon, and Montréal is no exception to this new market reality,” said Diane Ménard, Vice-President of the GMREB Board of Directors. “Its popularity can be explained in part by the fact that many first-time buyers choose this property category due to its affordability. And because spring is a very active time for first-time buyers, it is not surprising that condominiums perform well at this time of year,” she added.

Sales of single-family homes and plexes in the Montréal area decreased in May 2011, posting respective drops of 8 and 9 per cent compared to May of last year.

Geographically, condominiums stood out once again. While sales decreased by 5 per cent on the Island of Montréal, condominium sales increased by 6 per cent. The central areas of the Island were particularly active: condominium sales increased by 29 per cent in Rosemont/Villeray, by 21 per cent in Le Plateau and by 16 per cent in the South-West of the Island. In Laval, residential sales decreased by 14 per cent, but condominium sales remained stable. On the South Shore and North Shore, condominium sales increased by 1 and 6 per cent, respectively, while residential sales fell by 2 and 1 per cent, respectively.

The Vaudreuil-Soulanges area stood out from the other areas for two reasons. First, the condominium market in this area is quite small and the number of sales was insufficient to produce reliable statistics. Second, it is the only region in the Montréal area that posted an increase in sales in May 2011 compared to May 2010, at 1 per cent.

In terms of prices, the median price of condominiums reached $220,739 in the Montréal area, a 7 per cent increase compared to May of last year. The median price of single-family homes increased by 4 per cent to reach $266,500, while that of plexes remained stable at $390,000.

“The popularity of condominiums was reflected in the price increases, as this property category posted the largest increase in May. As for single-family homes and plexes, the increases were more moderate, as we anticipated,” said Diane Ménard.

As at May 31, 2011, the number of active listings on the MLS® system increased by 19 per cent in comparison with the same date last year.

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Sales Decrease for a Twelfth Consecutive Month in April 2011

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Île-des-Sœurs, May 10, 2011 - There were 4,509 MLS® sales transactions in the Montréal Metropolitan Area in April 2011, an 18 per cent decrease compared to April 2010 and the twelfth consecutive monthly decrease, according to the Greater Montréal Real Estate Board (GMREB).

“In addition to the drop in sales, the number of properties available on the market increased for an eighth consecutive month which, as we anticipated, translated into more relaxed market conditions, said Diane Ménard, Vice-President of the GMREB Board of Directors. “Some areas of Greater Montréal even had a balanced market in April. The market was balanced for single-family homes in the Vaudreuil-Soulanges area and on the North Shore, and it was balanced for condominiums in Vaudreuil-Soulanges, on the North Shore and in Laval,” she added.

In terms of property categories, plexes registered the largest slowdown in sales in April 2011, with a 31 per cent decrease compared to April 2010. Sales of single-family homes fell by 16 per cent and condominium sales decreased by 15 per cent.

Geographically, the number of transactions on the North Shore decreased by 10 per cent in April 2011 compared to the same month last year. Sales in the Vaudreuil-Soulanges area decreased by 13 per cent, while sales on the Island of Montréal, in Laval and on the South Shore fell by 17, 24 and 25 per cent, respectively.

“A sign that the market is becoming more relaxed is the fact that price increases were once again more moderate this month, as we had predicted,” said Diane Ménard.


In April 2011, the median price of single-family homes in the Montréal area reached $265,000, a 6 per cent increase compared to April 2010. Both condominiums and plexes posted a 4 per cent increase in median price, reaching $219,000 and $390,000, respectively. At the same time last year, the median price of single-family homes increased by 9 per cent, that of condominiums increased by 10 per cent and that of plexes grew by 9 per cent.

As at April 30, 2011, the number of active listings on the MLS® system increased by 17 per cent in comparison with the same date last year.

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March 2011: An Excellent Month Despite a Decrease in Sales

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Île-des-Sœurs, April 07, 2011 - There were 5,188 MLS® sales transactions in the Montréal Metropolitan Area in March 2011, a 13 per cent decrease compared to March 2010, according to the Greater Montréal Real Estate Board (GMREB). Despite this decrease, March 2011 was one of the best months of March in sales since the early 2000s.

"It's important to remember that March 2010 was exceptionally active and set a new sales record in the Montréal area," said Diane Ménard, Vice-President of the GMREB Board of Directors. "With 5,188 sales transactions, March 2011 posted one of the best results of the 2000s, surpassed only by March 2010 (5,967 sales), March 2007 (5,354 sales) and March 2002 (5,307 sales). Condominiums registered the best results with 1,641 sales in the Montréal area in March 2011, only 2 per cent lower than in March 2010 and the second best performance for a month of March," she added.

As for the other property categories, sales of single-family homes decreased by 17 per cent in March 2011, while plex sales fell by 21 per cent.

Geographically, March 2011 was one of the strongest months of March for most regions in the Montréal area, despite the decrease in sales. Vaudreuil-Soulanges stood out with only a 3 per cent decrease in sales compared to March 2010. Sales on the Island of Montréal decreased by 9 per cent, while Laval and the North Shore registered respective decreases of 12 and 14 per cent. The South Shore experienced a more difficult March than the other areas with 1,128 sales transactions, a decrease of 21 per cent compared to the same period last year and one of the weakest results of the 2000s, ahead of only March 2009 and March 2003. This slowdown is primarily due to significant sales decreases in the areas of Centre of the South Shore (Brossard, Saint-Lambert, Candiac, La Prairie), the South-West area of the South Shore (Delson, Saint-Constant, Sainte-Catherine, Saint-Mathieu, Saint-Philippe) and Châteauguay (Beauharnois, Châteauguay, Léry, Mercier, Saint-Isidore).

As for prices, property prices continued to increase in the Montréal area in March 2011, but at a more moderate pace. The median price of single-family homes increased by 6 per cent compared to March 2010 to reach $260,000. The median price of condominiums increased by 3 per cent to reach $210,000 while that of plexes grew by 8 per cent to reach $405,500.

"As we anticipated, price increases were more moderate in 2011 due to slower sales and the market's move toward becoming balanced," said Diane Ménard.

As at March 31, 2011, the number of active listings on the MLS® system increased by 13 per cent in comparison with the same date last year.

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Market Becoming More Balanced in Montréal Area

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Île-des-Sœurs, March 09, 2011 - Although still favouring home sellers, market conditions eased as evidenced by the number of MLS® sales transactions in the Montréal Metropolitan Area in February 2011, according to the Greater Montréal Real Estate Board (GMREB). The market eased the most for single-family homes in Vaudreuil-Soulanges and on the North Shore, while condominiums moved more towards a balanced market on the North Shore and in Laval.

"As expected, market conditions continued to become more balanced in February. Even though sellers still have the upper hand, buyers have a bit more bargaining power, a trend we started seeing since April 2010," said Diane Ménard, Vice-President of the GMREB Board of Directors. "Market conditions favoured sellers the most on the Island of Montréal, in the case of both single-family homes and condominiums."

More moderate price increases in February 2011 is another sign that market conditions are easing. The median price for a single-family home increased by 4 per cent to $254,000 in the Montréal area compared to February 2010. The median price for plexes increased by 3 per cent, reaching $390,000. Only condominium prices registered sustained growth, posting an increase of 9 per cent to reach $214,500.

In terms of sales, 4,104 residential transactions were registered in the Montréal area in February 2011, a 7 per cent decrease compared to February 2010. Plexes posted the most significant decrease, 11 per cent, while sales of single-family homes and condominiums declined by 7 per cent in February 2011.

Geographically, the Island of Montréal was the most active area in February 2011, with a slight decrease in sales of 3 per cent compared to the same month last year. Vaudreuil-Soulanges and the North Shore followed closely with respective sales decreases of 4 per cent and 6 per cent. Sales were down by 10 per cent in Laval and by 14 per cent on the South Shore.

As at February 28, 2011, the number of active listings on the MLS® system increased by 13 per cent in comparison with the same date last year.

"The increase in the number of homes for sale – which provides more choice for buyers – and the easing up of sales we've seen over the past 10 months lead us to believe that the market will continue moving towards becoming balanced in the next few months," said Diane Ménard.

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Slow Start to the Montréal Area Real Estate Market

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Île-des-Sœurs, February 09, 2011 - There were 2,477 MLS® sales transactions in the Montréal Metropolitan Area in January 2011, a 10 per cent decrease compared to January 2010, according to the Greater Montréal Real Estate Board (GMREB). Despite a decrease in sales, prices continued their upward trend.

"It's important to remember that in 2010, the year started off strong due to the anticipated increase in mortgage interest rates. In that way, it's no surprise that January 2011 sales are down compared to January 2010," said Diane Ménard, Vice President of the GMREB Board of Directors. "We're predicting a slight decrease in residential sales in 2011, which is even more reason we're not surprised by January's sales," she added.

In terms of prices, they continued to increase in January 2011. Both single-family homes and plexes registered a 7 per cent increase in median price, reaching $252,000 and $390,000, respectively. The median price of condominiums posted a more modest increase of 4 per cent to reach $210,000.

"When we look at property prices elsewhere in Canada, we see that Montréal is still one of the country's most affordable large cities. For example, in Calgary, a city that also publishes median prices, the median price of single-family homes was $390,000, which is 55 per cent higher than Montréal's median price of $252,000," said Ms. Ménard.

All property categories posted a decrease in sales in January 2011 in the Montréal area. Sales of single-family homes decreased by 11 per cent compared to January 2010, sales of condominiums decreased by 8 per cent and plex sales fell by 9 per cent. Even though the 782 condominiums sold in January 2011 did not surpass the sales level of January 2010, this was still the second best January on record for condominium sales, which demonstrates the growing demand for this type of property.

Geographically, the Island of Montréal and Laval both posted a slight 3 per cent decrease in sales in January 2011 compared to January 2010. Sales in the Vaudreuil-Soulanges area decreased by 7 per cent, while sales on the North Shore fell by 11 per cent. Finally, the South Shore registered a sharper decrease in real estate activity, as sales fell by 22 per cent.

As at January 31, 2011, the number of active listings on the MLS® system increased by 13 per cent in comparison with the same date last year.

"If you take into consideration that sales have decreased and listings have increased, it shows that market conditions are softening in Montréal. Even though the market continues to favour sellers, we can see that we're slowly moving towards a balanced market," said Diane Ménard.

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The Year 2010 Ends on a Positive Note

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Île-des-Sœurs, January 11, 2011 – MLS® sales in the Montréal Metropolitan Area increased by 1 per cent in 2010 compared to 2009, with a total of 42,347 transactions, according to the Greater Montréal Real Estate Board, making 2010 the second best year on record in sales.

"There were two distinct phases in 2010. The first four months of the year were very active as many consumers bought their properties earlier than planned in order to avoid a possible increase in mortgage rates. Then the real estate market began to slow down in the following months and posted eight consecutive monthly sales decreases," said Diane Ménard, Vice-President of the GMREB Board of Directors. "However, the strong start to 2010 compensated for the loss of momentum later on in the year, and the real estate market actually finished the year with a slightly higher number of transactions compared to 2009, but fewer transactions compared to the record set in 2007," she added.

In terms of property categories, condominiums posted the largest increase in sales in 2010 and it was the only property category to register an increase in the Montréal area. The 12,668 condominiums sold surpassed by 7 per cent the previous record set in 2009. Sales of single-family homes and plexes remained relatively stable in 2010, decreasing slightly by 1 per cent compared to 2009.

Geographically, Laval and Vaudreuil-Soulanges registered the biggest increases in sales in 2010, as both areas posted a 4 per cent increase compared to 2009. The popularity of condominiums in these two areas contributed significantly to their strong performance, as condominium sales increased by 28 per cent in the Vaudreuil-Soulanges area and by 15 per cent in Laval. Strong condominium sales on the Island of Montréal (+7 per cent) and on the North Shore (+10 per cent) contributed to the vitality of these two areas, which ended the year with a 2 per cent increase in sales compared to 2009. The South Shore was the only area to register a decrease in sales compared to 2009, with a slight drop of 2 per cent.

"Condominiums were primarily responsible for the strong 2010 real estate market due undoubtedly to their affordability. It also leads us to believe that there were many first-time buyers on the market in 2010, as this property category is most popular with first-time buyers who also took advantage of low interest rates," said Ms. Ménard.

As for prices, all three property categories finished the year with a higher median price than that of 2009. The median price of single-family homes increased by 7 per cent to reach $252,000, while that of condominiums increased by 8 per cent to reach $210,000 and that of plexes grew by 9 per cent to reach $380,000.

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November 2010 MLS® Sales: New Record for the Island of Montréal

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Île-des-Sœurs, December 9, 2010 – November 2010 MLS® sales on the Island of Montréal set a new record with 1,370 sales, an increase of 1 per cent, slightly surpassing the previous record set in November 2009, according to the Greater Montréal Real Estate Board's (GMREB) MLS® statistics. Sales in the Montréal Metropolitan Area decreased by 5 per cent in November 2010, while year-to-date sales increased by 2 per cent.

"November was a strong month for the Montréal area real estate market," said Diane Ménard, Vice-President of the GMREB Board of Directors. "It's true that MLS® sales decreased for a seventh consecutive month, but the decrease was much smaller than those registered in recent months. Furthermore, some areas really stood out, such as Laval, which posted a 3 per cent increase in sales, and the Island of Montréal which set a new November sales record," she added.

Condominiums also stood out in November 2010, as it was the only property category to register an increase in sales in the Montréal area. The 983 condominium sales set a new November record, surpassing the November 2009 peak by 3 per cent. Condominium sales increased in most of the main areas in the Montréal region. Only the South Shore posted a decrease in condominium sales (-9 per cent). On the Island of Montréal, in Laval and on the North Shore, the number of condominiums sold in November 2010 increased by 4, 23 and 15 per cent, respectively, compared to November 2009.

However, the increase in condominium sales was not enough to offset the decrease in sales of single-family homes (-7 per cent) and plexes (-13 per cent) in the Montréal area. Geographically, the North Shore (-10 per cent) and the South Shore (-14 per cent) were primarily responsible for pulling Montréal area residential sales downward. Sales in the Vaudreuil-Soulanges area decreased slightly by 3 per cent.

In terms of prices, all three property categories registered a 7 per cent increase in median price in November 2010 compared to November 2009. In the Montréal area, the median price of single-family homes reached $260,750, that of condominiums reached $218,000 and that of plexes reached $385,000.

"These price increases are good news for sellers, as it shows that real estate continues to be a solid investment. Furthermore, selling times continued to decrease in November, which is also encouraging for sellers. There was good news for buyers as well, as they had more choice compared to November 2009 as active listings increased by 7 per cent," said Diane Ménard.

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Prices Increase, MLS® Sales Decrease in October

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Île-des-Sœurs, November 9, 2010
– There were 2,839 sales transactions in the Montréal Metropolitan Area in October 2010, a 19 per cent decrease compared to October 2009. On a year-to-date basis, sales have increased by 3 per cent compared to the first ten months of last year.

"After posting record sales levels in October 2009, it's normal that the Montréal real estate market was less active this October," said Diane Ménard, Vice-President of the Board of Directors of the GMREB. "Furthermore, 2009 and 2010 were very different years on the real estate market: 2009 began with a significant decrease in sales due to the recession and ended with record-high sales. Conversely, 2010 started off strong with record-breaking months but sales have returned to their usual levels," she added.

Property prices in the Montréal area continued to increase in October 2010. The median price of single-family homes increased by 8 per cent compared to October 2009, reaching $260,000. The median price of condominiums increased by 12 per cent to reach $218,000, while that of plexes increased by 9 per cent to reach $380,000.

"Market conditions continued to favour sellers, which explains why property prices continued to increase in the Montréal area," said Ms. Ménard. "Consumers are still buying real estate, as price increases indicate that buying a property is still a solid investment. Moreover, Montréal is one of the most affordable cities in Canada," she added.

In terms of sales by property category, condominiums fared best, posting a 14 per cent decrease compared to October 2009. Sales of single-family homes decreased by 21 per cent and that of plexes fell by 26 per cent.

Geographically, the North Shore, Vaudreuil-Soulanges and the Island of Montréal posted similar decreases in sales at 14, 15 and 16 per cent, respectively. The South Shore and Laval posted larger decreases, at 24 and 31 per cent, respectively.

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MLS® Sales Levels Return to Normal in the Montréal Area

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Île-des-Sœurs, October 13, 2010 
– There were 2,704 sales transactions in the Montréal Metropolitan Area in September 2010, a decrease of 13 per cent compared to September 2009 but a level similar to those registered from September 2003 to 2008, according to the Greater Montréal Real Estate Board's (GMREB) MLS® statistics. 

“We were coming out of the recession last September and the real estate market was particularly active,” said Diane Ménard, Vice-President of the Board of Directors of the GMREB. “More than 3,000 transactions took place last September, the highest number of sales ever recorded in a month of September. This year, the market has returned to normal and sales levels are similar to those seen from September 2003 to September 2008,” she added. 

All property categories registered a decrease in sales in September 2010 compared to September 2009. Single-family home sales decreased by 16 per cent, condominium sales decreased by 9 per cent and plex sales fell by 10 per cent. 

Geographically, the North Shore posted the smallest decrease in sales, at 6 per cent. Sales in the Vaudreuil-Soulanges area decreased by 10 per cent, while sales on the Island of Montréal, on the South Shore and in Laval decreased by 14, 19 and 14 per cent, respectively. 

As for prices, the median price of single-family homes in the Montréal area reached $252,000 in September 2010, a 3 per cent increase compared to the same month last year. The median price of condominiums increased by 8 per cent to reach $216,000, while that of plexes increased by 9 per cent to reach $379,000. 

“As anticipated, the decrease in sales that we experienced in recent months has led to a slow-down in the rate of price increases, particularly for single-family homes,” said Ms. Ménard. “This situation can also be explained by a rebalancing of supply and demand, since as at September 30, 2010, the number of active listings increased by 1 per cent in comparison with the same date last year, a first in 13 months. For now, we are still in a seller’s market in the Montréal area, but the increase in supply and the decrease in demand suggests that the scale will become balanced in the coming months,” she added. 

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Properties Selling Faster in the Montréal Area

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Île-des-Sœurs, September 14, 2010 
– Properties in the Montréal Metropolitan Area were selling faster in August 2010 compared to the same period last year according to the Greater Montréal Real Estate Board's (GMREB) MLS® statistics. 

In August 2010, single-family homes in the Montreal area sold in an average of 69 days, 10 days faster than in August 2009. Condominiums sold in an average of 79 days, a decrease of 11 days. Plexes sold the fastest with an average sale time of 62 days, 29 fewer days compared to the same period last year. 

“The real estate market in the Montréal area is currently a seller’s market: average selling times are very short and the number of properties available on the market decreased for the thirteenth consecutive month in August, leaving slightly less choice for buyers,” said Diane Ménard, Vice-President of the Board of Directors of the GMREB. “Because market conditions are tighter, property prices in the Montréal area continued to increase,” she added. 

The median price of single-family homes in the Montréal area reached $254,000 in August 2010, a 7 per cent increase compared to August 2009. The median price of condominiums increased by 9 per cent to reach $215,000, while that of plexes increased by 14 per cent to reach $395,000. 

In terms of sales, the market slowed in August 2010 as the number of residential sales in the Montréal area decreased by 16 per cent compared to August 2009. Sales of single-family homes decreased by 16 per cent, sales of condominiums decreased by 13 per cent, and sales of plexes fell by 22 per cent. 

Geographically, all areas posted a decrease in sales similar to that of the Montréal Metropolitan Area as a whole. The North Shore had the smallest decrease in sales, at 11 per cent, while the Island of Montréal posted a 16 per cent decrease in sales. Laval, Vaudreuil-Soulanges and the South Shore posted decreases of 18, 17 and 18 per cent, respectively. 

“Summer is always a slower period for the real estate market. Last year, however, the market was more active than usual as we were emerging from the recession,” said Ms. Ménard. “It is therefore too early to talk of a market downturn, particularly since year-to-date sales are up by 8 per cent. It will be interesting to see how the market performs in the fall, which is normally a more active period,” she added. 

As at August 31, 2010, the number of active listings on the MLS® system decreased by 3 per cent in comparison with the same date last year. 

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Sales Decrease and Prices Increase in July 2010

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Île-des-Sœurs, August 5, 2010 
– Although sales in the Montréal Metropolitan Area decreased by 26 per cent in July 2010 compared to July 2009, year-to-date sales increased by 10 per cent according to the Greater Montréal Real Estate Board's (GMREB) MLS® statistics. Property prices in the Montréal area also continued to increase.

“The real estate market normally slows during the summer months,” said Diane Ménard, Vice-President of the Board of Directors of the GMREB. “The market was busier than usual at the start of the year, as consumers accurately predicted an increase in mortgage rates and bought their property earlier than originally planned,” she added. 

Geographically, the South Shore and Laval had the largest decreases in sales, at 31 and 28 per cent, respectively, in July 2010 compared to July 2009. Sales decreased by 22 per cent in the Vaudreuil-Soulanges area, by 23 per cent on the Island of Montréal and by 25 per cent on the North Shore.

In terms of prices, single-family homes, condominiums and plexes all registered an increase in their median price compared to July 2009. In the Montréal area, the median price of single-family homes reached $258,000 (+5 per cent), that of condominiums reached $220,000 (+8 per cent), and that of plexes reached $381,500 (+9 per cent).

“We’re currently in a seller’s market. This explains why prices continue to increase despite the decrease in sales,” said Diane Ménard. 

As at July 31, 2010, the number of active listings on the MLS® system decreased by 7 per cent in comparison with the same date last year.


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June Sales Decrease, Prices Increase in the Montréal Area

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Île-des-Sœurs, June 8, 2010 
– Sales in the Montréal Metropolitan Area decreased by 19 per cent in June 2010 compared to June 2009, meaning a year-to-date increase in sales of 16 per cent compared to last year, according to the Greater Montréal Real Estate Board's (GMREB) MLS®statistics. Property prices also continued to increase. 

“June’s decrease in sales is no surprise because June 2009 was an exceptional month for the real estate market. In fact, it was the first time that sales in the Montréal area surpassed 4,000 transactions in a month of June,” said Michel Beausejour, FCA, Chief Executive Officer of the GMREB. “The market in June 2009 was recovering after a few difficult months due to the recession. And now, one year later, the market has returned to normal,” he added. 

“In addition, sales are up by 16 per cent in the first six months of 2010. This is because the market was very active, more than usual, at the start of the year, as consumers who had put their property purchase on hold due to the recession were back on the market,” said Beauséjour. 

In terms of property categories, condominiums registered a 13 per cent decrease in sales in June 2010 compared to June 2009. Single-family home sales in the Montréal area decreased by 21 per cent, while plex sales fell by 24 per cent. 

Geographically, the North Shore and Laval had the smallest decreases in sales, at 12 and 13 per cent, respectively, in June 2010 compared to June 2009. Sales decreased by 16 per cent in Vaudreuil-Soulanges, by 20 per cent on the Island of Montréal and by 26 per cent on the South Shore. 

As for prices, single-family homes, condominiums and plexes all registered an 8 per cent increase in median price in June 2010 compared to the same month last year. In the Montréal area, the median price of a single-family home reached $260,000, that of condominiums reached $214,500, and that of plexes reached $385,000. 

“We’re currently in a seller’s market. This explains why prices continue to increase despite the decrease in sales,” said Michel Beauséjour. 

As at June 30, 2010, the number of active listings on the MLS® system decreased by 10 per cent in comparison with the same date last year. 

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The Chief Executive Officer of the Québec Federation of Real Estate Boards and the Greater Montréal Real Estate Board Announces his Departure

Île-des-Sœurs, June 30, 2010 – Claude Charron, President of the Québec Federation of Real Estate Boards (QFREB), and Patrick Juanéda, President of the Greater Montréal Real Estate Board (GMREB), today announced the departure of Michel Beauséjour, FCA, Chief Executive Officer of the Québec Federation of Real Estate Boards and the Greater Montréal Real Estate Board. He will remain in office until his successor is appointed. 

Beauséjour said that a change in leadership was necessary to help support the ever changing landscape of the real estate industry as well as the major challenges facing brokers today. “On my part, I have developed and implemented all of the necessary tools to ensure the success of the industry and of real estate brokers as they face these essential changes,” said Mr. Beauséjour in his letter of resignation. He added that he was very confident in the industry’s ability to respond to the challenges it is facing. 

Mr. Charron and Mr. Juanéda stressed Michel Beauséjour’s exceptional contribution to the province’s real estate industry during his eleven years as its leader. “If the Greater Montréal Real Estate Board is thought of, in Canada and the United States, as a role model for its technology, professionalism and organization, this is largely due to the vision of Michel Beauséjour, a real estate industry pioneer who consistently proposed innovative ideas in line with changing market realities,” said Patrick Juanéda, President of the Greater Montréal Real Estate Board. 

Claude Charron, President of the Québec Federation of Real Estate Boards, highlighted the immense contribution that Beauséjour made in the consolidation of the real estate industry in Québec, which included that of standardization of professional practices and the implementation of one MLS®system for all of Québec.  

 

Montréal’s Real Estate Market Slowed in May 2010

Île-des-Sœurs, June 9, 2010 – There were 4,403 sales transactions in the Montréal Metropolitan Area in May 2010, an 8 per cent decrease compared to May 2009, according to the Greater Montréal Real Estate Board's MLS® statistics. "It's not unexpected to see a slowdown in the real estate market given that the market was extremely active the last few months with consumers getting back into the market following the recession," said Michel Beausejour, FCA, Chief Executive Officer of the GMREB. "Aside from experiencing some pent up demand from consumers, others were buying their properties earlier than planned, wanting to avoid an increase in mortgage interest rates. Plus, we're heading into the summer months when the real estate market tends to naturally slow down," he added.

Condominium sales in the Montréal area decreased by 6 per cent in May 2010 compared to the same month last year, while single-family and plex sales decreased by 9 and 10 per cent, respectively. Geographically, Laval performed well as sales were stable in May 2010 compared to May 2009. Sales fell slightly by 2 per cent in Vaudreuil-Soulanges, and decreased by 7 per cent on the Island of Montréal, by 11 per cent on the North Shore and by 15 per cent on the South Shore. These last two areas were the most active in May 2009, which explains their larger decrease. Despite the sales decrease, prices continued to increase in the Montréal area in May 2010. Plexes led the way with an 11 per cent increase in the median price compared to May 2009, reaching $390,000. The median price of single-family homes increased by 8 to reach $257,000, while that of condominiums increased by 7 per cent to reach $207,000. 

“The inventory of properties for sale in the Montréal area has been decreasing over the past few months, which has tightened market conditions. This explains why prices are still increasing despite the decrease in sales,” said Michel Beauséjour. As at May 31, 2010, the number of active listings on the MLS® system decreased by 16 per cent in comparison with the same date last year. More Information on centris.ca™ For more information as well as quarterly statistics for the province of Québec, including its municipalities and regions, visit centris.ca™, Québec’s real estate industry website. About the Greater Montréal Real Estate Board The Greater Montréal Real Estate Board is a non-profit organization that brings together most of the real estate brokers and agents who work in the Greater Montréal area. With more than 10,500 members, it is the second largest board in Canada. Its mission is to actively promote and protect its members' professional and business interests in order for them to successfully meet their business objectives and maintain their predominance in the real estate industry.

Activity on the Montréal Real Estate Market Holds Strong in April 2010

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Île-des-Sœurs, May 6, 2010 
– There were 5,513 sales transactions in the Montréal Metropolitan Area in April 2010, a 16 per cent increase compared to April 2009, according to the Greater Montréal Real Estate Board's MLS® statistics. 

“At this time last year, the Montréal real estate market was still feeling the effects of the recession, but was showing signs of recovery. Sales were down by only 6 per cent compared to April 2008,” said Michel Beauséjour, FCA, Chief Executive Officer of the GMREB. “With a 16 per cent increase in sales this April, the Montréal real estate market is now very active, which can be explained by positive economic conditions. Consumer confidence in the economy is strong, job creation is improving in the Montréal region and mortgage rates are still low,” he added. 

All property categories registered an increase in sales in April 2010 compared to April 2009. Plexes led the way with a 28 per cent increase in sales, followed by condominiums and single-family homes with increases of 18 and 12 per cent, respectively. 

Geographically, the five main areas in the Montréal region surpassed the sales levels reached in April 2009. Laval and the Island of Montréal were the most active areas, with respective sales increases of 27 and 21 per cent. Vaudreuil-Soulanges followed closely with an 18 per cent increase, while sales on the North Shore and South Shore increased by 14 and 4 per cent, respectively. 

In terms of prices, the median price of single-family homes in the Montréal area increased from $230,000 in April 2009 to $250,000 in April 2010, a 9 per cent increase. The median price of condominiums increased by 10 per cent to reach $210,000, while that of plexes increased by 9 per cent, to reach $375,000. 

“Montréal’s real estate is still the most affordable compared to other large cities in Canada, despite the increase in property prices. This increase can be explained by a decrease in the supply of properties for sale. On April 30, 2010, the number of active listings was down 20 per cent compared to the same date last year,” said Michel Beauséjour. He added, “On the other hand, the good news for buyers is that there are more new listings on the market, an increase of 4 per cent in April for example, so buyers still have choice.”  

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March 2010: A New Sales Record in the Montréal Area

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Île-des-Sœurs, April 9, 2010 
– March 2010 real estate sales in the Montréal Metropolitan Area broke the last record by 12 per cent, which was set in March 2007, according to the Greater Montréal Real Estate Board's MLS® statistics. 

Residential sales in the Montréal area increased by 38 per cent compared to March 2009, which was a recession month. Sales increased by 21 per cent compared to March 2008, prior to the start of the recession. 

In March 2010, all property categories surpassed March 2008 sales levels. Plexes led the way with a 34 per cent increase in sales, while single-family home and condominium sales increased by 21 and 17 per cent, respectively. 

“We believe that first-time buyers are very active in the market right now, as evidenced by our most recent survey,” said Michel Beauséjour, FCA, Chief Executive Officer of the GMREB. “The survey results showed that 43 per cent of people considering buying a property over the next 12 months are currently renting, so it’s no surprise that so many renters are active on the market right now. Positive economic conditions and low interest rates have definitely encouraged tenants to become owners. Some consumers may have even decided to buy a little earlier than expected due to some talk surrounding the possible increase in mortgage rates this summer,” he added. 

Geographically, the five main areas in the Montréal region were very active in March 2010, surpassing the number of sales in March 2008. Laval took the lead with a 40 per cent increase in sales compared to March 2008, followed by Vaudreuil-Soulanges with a 25 per cent increase. The North Shore, South Shore and Island of Montréal registered respective increases of 21, 20 and 17 per cent compared to March 2008. 

In terms of prices, there was an increase in all property categories in March 2010 compared to March 2009. The median price of single-family homes in the Montréal area reached $245,000, a 9 per cent increase. There was an increase of 10 per cent in the median price of condominiums and plexes, reaching $202,500 and $375,000, respectively. 

“This increase in prices can be explained by the concept of supply and demand. The market is very active in terms of sales and the supply of properties has decreased by about 20 per cent, which puts upward pressure on prices. But remember, even though prices have increased somewhat, with the median price of single-family homes set at $245,000, Montréal is still one of the most affordable areas in the country. Just compare Montréal prices to Toronto and Calgary, where the median price for single-family homes stood at $370,000 and $423,000, respectively, in March 2010, and compared to Vancouver, where the average property price reached $663,000 in February 2010, the last month for which data is available,” added Michel Beauséjour. 

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First Quarter of 2010: Condominiums Stand Out 

Overall residential sales in the Montréal Metropolitan Area increased by 46 per cent in the first quarter of 2010 compared to the same period last year, and by 10 per cent compared to the first quarter of 2008. In the first three months of the year, 3,865 condominiums were sold, up 13 per cent compared to the previous record set in the first quarter of 2008. Sales of single-family homes and plexes increased by 8 and 13 per cent, respectively, compared to the first quarter of 2008, which was before the start of the last recession. 

In terms of prices, the median price of single-family homes reached $243,000 in the first quarter of the year, an 8 per cent increase compared to the first quarter of last year. Condominiums also registered an 8 per cent increase to reach a median price of $200,000. The median price of plexes, which stood at $371,000, registered the largest increase, growing by 10 per cent compared to the first three months of 2009. 

“Lots of activity on the resale market as well as an increase in prices show that Montréal is a good place to live and a good place to invest,” concluded Michel Beauséjour. 

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Sales in Montréal Area Reach 2008 Levels

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Île-des-Sœurs,March 4, 2010 
– February 2010 sales in Montréal Metropolitan Area hit the same level as sales in February 2008, which was just before the last recession. According to the Greater Montréal Real Estate Board’s MLS ® statistics, there were 4,465 sales transactions in the Montréal area in February 2010, a 45 per cent increase compared to February 2009 but only a 1 per cent increase compared to February 2008. 

“It’s important to remember that last year – in February 2009 – the Montréal real estate market was feeling the effects of the recession and posted a 31 per cent decrease in sales. This explains why when we compare February 2010 to February 2009, sales are up by 45 per cent,” said Michel Beauséjour, FCA, Chief Executive Officer of the GMREB. “February 2008 offers a better point of comparison, since the recession had not yet started,” he added. 

In terms of sales, all property categories are back to levels similar to those of 2008. Condominiums led the way with a 5 per cent increase in February 2010 compared to February 2008. Single-family home and plex sales remained relatively stable compared to February 2008, with a decrease of 1 per cent and an increase of 1 per cent, respectively. 

As for prices, the median price of a single-family home in the Montréal area reached $245,000 in February 2010, a 9 per cent increase compared to February 2009. The median price of condominiums increased by 5 per cent to reach $197,000, while that of plexes grew by 15 per cent to reach $378,500. 

“The decrease in the number of homes for sale (-19 per cent) in the Montréal area in February 2010 explains why prices went up, especially in the case of plexes,” said Beauséjour. “But it is important to mention that buyers still have a lot of choice with 22,528 properties for sale in the Montréal Metropolitan Area. Also, 7,694 new listings were entered in the MLS ® system in February 2010, up 6 per cent compared to February 2009.” 

Geographically, the five main areas in the Montréal region met February 2008 sales figures with the exception of the South Shore, which posted a 2 per cent decrease. Sales in Laval increased by 6 per cent in February 2010 compared to February 2008, while the Island of Montréal, the North Shore and the Vaudreuil-Soulanges area registered increases of 1, 2 and 1 per cent, respectively, compared to February 2008. 

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Jump in Condominium Sales in the Montréal Area in January 2010

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Île-des-Sœurs, February 10, 2010
– Condominium sales in the Montréal Metropolitan Area increased by 98 per cent in January 2010 compared to January 2009 which was the worst month of the recession. In fact, condominium sales rebounded so well from the economic downturn that they exceeded the January 2007 sales peak by 20 per cent, according to the Greater Montréal Real Estate Board's MLS® statistics.

In terms of overall sales, 2,784 transactions took place in the Montréal area in January 2010, a 70 per cent increase compared to January 2009 and a 7 per cent increase compared to January 2008.

“The market was very active in January 2010 with condominiums leading the way and setting new sales records in Montréal’s five main areas,” said Michel Beauséjour, FCA, Chief Executive Officer of the GMREB. “This activity is mainly due to first-time buyers, as evidenced by our most recent survey results. About 43 per cent of people polled who are considering buying a property over the next 12 months are currently renting,” he added.

Single-family homes and plexes also turned in solid sales performances in January 2010, although they did not set new records. The number of single-family homes sold in the Montréal area increased by 60 per cent compared to January 2009 and by 1 per cent compared to January 2008. Plexes posted a 57 per cent increase in sales compared to January 2009 and a 3 per cent increase compared to January 2008.

In terms of prices, condominiums stood out yet again. The median price of condominiums in the Montréal area increased by 12 per cent in January 2010 compared to January 2009, reaching $201,500. The median price of single-family homes increased from $225,000 in January 2009 to $235,000 in January 2010, an increase of 4 per cent. In terms of plexes, the median price increased by 7 per cent, reaching $365,000.

“Property prices in the Montréal area never decreased during the last recession. This steady increase in price shows that real estate continues to be a good investment,” said Beauséjour.

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Geographically, the South Shore stood out with record-breaking sales in January 2010. Sales increased by 74 per cent compared to January 2009, and by 11 per cent compared to January 2008. Sales in January 2010 even surpassed the peak-level January 2007 sales by 2 per cent.

The Island of Montréal also turned in a solid performance in January 2010, posting a 63 per cent increase in sales compared to the same month last year, a 7 per cent increase compared to January 2008, and registering only three fewer sales than in the record-setting month of January 2007. Laval, the area most affected by the recession in January 2009, recorded the strongest growth so far this year (+96 per cent). The 320 sales transactions in this area were a return to the January 2008 sales level and represented only 9 fewer sales than in January 2007 – the best January on record.

Finally, the areas of Vaudreuil-Soulanges and the North Shore registered sales increases of 75 and 66 per cent, respectively, compared to January 2009, but posted decreases of 5 and 2 per cent, respectively, compared to the same period in 2008.

As at January 31, 2010, the number of active listings on the MLS ® system decreased by 19 per cent in comparison with the same date last year.


Recent Survey Shows First-Time Buyers Continue to be Active in 2010

According to a recent buyers’ and sellers’ survey conducted on behalf of the GMREB, 6.7 per cent of households surveyed in the Montréal area are considering buying a home within the next 12 months, a result similar to that of last year.

“These surveys have proven to be quite reliable over the years, which bodes well for the Montréal real estate market in 2010,” said Beauséjour. “This year’s results suggest that first-time buyers will continue to be active on the real estate market in the coming months, as substantiated by the level of condominium sales in January.”

According to the survey results, 43 per cent of households considering buying a property in the next 12 months are currently renters. Most of these first-time buyers are couples with or without children (52 per cent) and are less than 40 years old (63 per cent). Close to 18 per cent of respondents said they were leaning towards buying a condominium.

As for sellers’ intentions, the results were similar to last year’s survey. Nearly 17 per cent of respondents in the Montréal Metropolitan Area said that it was likely or very likely that they would sell their property within the next five years.

This annual survey was conducted by Groupe Multi Réso on behalf of the GMREB. This electronic survey took place from October 2 to 19, 2009, among 2,089 respondents in the Montréal area. The margin of error is 2.1 per cent 19 times out of 20.





Montréal’s Real Estate Market Performed Well in 2009

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Île-des-Sœurs, January 7, 2010
– Sales in the Montréal Metropolitan Area increased by 3 per cent in 2009 compared to 2008, with a total of 41,802 transactions, according to the Greater Montréal Real Estate Board's MLS® statistics.

“Although sales decreased the first four months of 2009, Montréal’s real estate market rebounded and finished the year on a positive note,” said Michel Beauséjour, FCA, Chief Executive Officer of the GMREB. “Because sales increased by 3 per cent in 2009 compared to 2008, it’s obvious that Montréal’s real estate market wasn’t really affected by the recession,” he added.

There was an increase in sales in all property categories in 2009. Single-family homes led the way with a 4 per cent increase in sales, followed closely by condominiums and plexes, which each posted a 3 per cent increase.

In terms of prices, the median price of a single-family home in the Montréal area reached $235,000 in 2009, a 4 per cent increase compared to 2008. The median price of condominiums increased by 5 per cent to reach $194,500, while that of plexes grew by 4 per cent to reach $349,000.

“Not only was the market more active in terms of sales in 2009, but prices continued to slowly and steadily increase in Montréal, meaning that real estate continues to be a good investment,” said Mr. Beauséjour.

Geographically, Vaudreuil-Soulanges saw the biggest increase in sales, at 7 per cent, in 2009 over 2008. The South Shore and the Island of Montréal posted a 4 per cent increase in sales, while Laval posted a 3 per cent increase. The number of transactions on the North Shore remained stable in 2009 compared to 2008.

The average number of active listings on the MLS® system in 2009 was 1 per cent higher than in 2008.

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Record-Breaking Month of December

There were 2,819 sales in the Montréal area in December 2009, a 67 per cent increase compared to December 2008. These 2,819 transactions represented a new record for the month of December, outdoing December 2006, during which 2,466 sales took place.

“It’s important to remember that in December 2008, sales in the Montréal area were down 29 per cent compared to December 2007. In that sense, then, the increase in sales in December 2009 should be interpreted cautiously, as it was amplified by the market’s poor performance in December 2008,” explained Mr. Beauséjour.

Property prices increased in the Montréal area in December 2009. All three property categories registered a 4 per cent increase in the median price compared to December 2008. The median price of single-family homes reached $240,000, that of condominiums reached $200,000 and that of plexes reached $353,000.

As at December 31, 2009, the number of active listings on the MLS® system decreased by 19 per cent in comparison with the same date last year.

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