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. For more information, please visit www.homepriceindex.ca. About the Greater Montréal Real Estate Board The Greater Montréal Real Estate Board is a non-profit organization with close to 9,300 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 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. For further information: Manon Stébenne Manager, Communications and Public Relations Greater Montréal Real Estate Board Tel.: 514-762-2440, ext. 157 manon.stebenne@gmreb.qc.ca Josée Labrie Coordinator, Writing and Communications, Communications and Public Relations Greater Montréal Real Estate Board Tel.: 514-762-2440, ext. 222 josee.labrie@gmreb.qc.ca
