Market Overview

Centris® Residential Sales Statistics - June 2018 - Slight Increase in Sales on Montréal's Residential Real Estate Market

Share:

Centris® Residential Sales Statistics - June 2018 - Slight Increase in Sales on Montréal's Residential Real Estate Market

Canada NewsWire

L'ÎLE-DES-SŒURS, QC, July 6, 2018 /CNW Telbec/ - 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, 4,081 residential sales were concluded in June 2018, a 1 per cent increase compared to June of last year. Click here to watch the June 2018 statistics video.

Centris Residential Sales Statistics – June 2018 (CNW Group/Greater Montréal Real Estate Board)

"Residential sales in the Montréal area have now increased for 40 consecutive months," said Mathieu Cousineau, President of the GMREB Board of Directors. "This level of sustained growth has never been seen before," he added.

  Sales by geographic area

  • Geographically, five of the Montréal CMA's six main areas registered an increase in sales in June.
  • Laval and Vaudreuil-Soulanges led the way with respective increases of 8 per cent and 6 per cent.
  • The South Shore and the North Shore were neck-and-neck, as both areas registered a 4 per cent increase in sales, while Saint-Jean-sur-Richelieu saw a 1 per cent increase.
  • The Island of Montréal was the only area to register a drop in sales in June, as transactions fell by 5 per cent. This was only the second time in the past 24 months that sales decreased on the Island of Montréal.

Sales by property category

  • It is thanks to the number of condominium transactions that sales in the Montréal CMA increased in June. The 1,383 condo transactions represent a 7 per cent jump compared to June of last year.
  • In contrast, sales of single-family homes (2,290 transactions) and plexes (404 transactions) fell by 2 per cent and 3 per cent, respectively.

Prices

  • The median price of single-family homes across the Montréal CMA stood at $325,089 in June, up by only 1 per cent year over year. This was the smallest monthly increase in the past 20 months.
  • The median price of condominiums was unchanged compared to June 2017 and stood at $256,000.
  • Plexes registered a more sustained increase in median price at 7 per cent, reaching $507,000.

Number of properties for sale

Across the Montréal CMA, there were 22,333 active residential listings in the Centris system in June, a 17 per cent drop compared to June of 2017.

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 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 June 2018 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/July2018/06/c4792.html

View Comments and Join the Discussion!