Market Overview

Centris® Residential Sales Statistics - August 2017 - Led by Condominiums, Montréal's Residential Real Estate Market Continued its Momentum in August

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L'ÎLE-DES-SŒURS, QC, Sept. 7, 2017 /CNW/ - 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. Click here to watch the August 2017 statistics video.

Centris® Residential Sales Statistics (CNW Group/Greater Montréal Real Estate Board)

"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.

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

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.  

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 under the same address. Société Centris® provides real estate industry stakeholders with access to real estate data and a wide range of technology tools. Centris® also manages the collaboration system used by more than 13,000 real estate brokers in Québec.

For August 2017 statistics charts, click here.

For year-to-date statistics charts, click here.

SOURCE Greater Montréal Real Estate Board

View original content with multimedia: http://www.newswire.ca/en/releases/archive/September2017/07/c7215.html

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