February 2012: MLS® Sales Steam Ahead!

Île-des-Sœurs, 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.

About the Greater Montreal Real Estate Board
The Greater Montréal Real Estate Board is a non-profit organization and has more than 10,500 members: real estate brokers. It is the second most important board in Canada and its mission is to actively promote and protect its members’ professional and business interests in order for them to successfully meet their business objectives.

For further information:
Chantal de Repentigny
Assistant Director
Communications, Industry Relations
Tel.: 514-762-2440, ext. 130
chantal.derepentigny@gmreb.qc.ca