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

Île-des-Sœurs, August 7, 2012 – Île-des-Soeurs, 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.
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 who work in the Greater Montréal area. With more than 10,000 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.

For further information:
Chantal de Repentigny
Assistant Director, Development, Media Relations and Special Projects
Communications and Industry Relations
Phone: 514-762-2440 , extension 130
chantal.derepentigny@gmreb.qc.ca