Greater Montreal Real Estate Board

Greater Montreal Real Estate Board

May 16, 2006 10:31 ET

Greater Montreal Real Estate Board: Sales Up by 2.5% So Far in 2006

ILE-DES-SOEURS, QUEBEC--(CCNMatthews - May 16, 2006) - A total of 19,876 residential sales were recorded on the Greater Montreal Real Estate Board (GMREB) MLS® system in the first four months of 2006, which is a 2.5% increase compared to the same period in 2005, the all-time best year.

According to statistics published by the GMREB, the average price of a single-family home for the first four months of 2006 was $210,000, compared to $197,000 at the same time a year ago, which is a 7% increase.



---------------------------------------------------------------------
January to April 2006
---------------------------------------------------------------------
Zone Average price Variation
(single-family) 2005-2006
---------------------------------------------------------------------
Montreal $322,000 +5%
---------------------------------------------------------------------
Laval $213,000 +9%
---------------------------------------------------------------------
Monteregie $197,000 +8%
---------------------------------------------------------------------
Laurentians $189,000 +8%
---------------------------------------------------------------------
Lanaudiere $156,000 +7%
---------------------------------------------------------------------


The total sales dollar volume of units sold for the first four months of 2006 was $4.17 billion, a 9% increase compared to the previous record of $3.83 billion set in 2005.

"The real estate market remains strong and positive for sellers and buyers," says Michel Beausejour, FCA, GMREB Chief Executive Officer. "If social-economic indicators remain constant, the market will be as active this year as it was in 2005."

April 2006

According to the GMREB statistics, 5,496 sales were registered in April 2006, down by 3% when compared to the 5,649 sales for the same time period a year ago. "It's interesting to note that in March 2005 - March traditionally being the busiest month of the year - the number of sold properties had gone down by 5% compared to March 2004, but that didn't stop 2005 from being a record year", says Michel Beausejour.

In April 2006, the total sales dollar volume of units sold reached $1.20 billion, a 5% increase when compared to the total of $1.14 billion in April 2005.

As of April 30, there were 36,398 residential listings on the MLS® system, while there were 32,640 at the same time last year, an 11% increase. Also, 8,854 new listings were entered in our system in April 2006, an increase of 2% compared to the 8,670 new listings entered in April 2005.

In April 2006, the average price of single-family homes was $220,000 in Greater Montreal, up by 9% when compared to $202,000 in April 2005.



---------------------------------------------------------------------
April 2006
---------------------------------------------------------------------
Zone Average price Variation
(single-family) 2005-2006
---------------------------------------------------------------------
Montreal $349,000 +13%
---------------------------------------------------------------------
Laval $218,000 +8%
---------------------------------------------------------------------
Monteregie $201,000 +7%
---------------------------------------------------------------------
Laurentians $194,000 +7%
---------------------------------------------------------------------
Lanaudiere $165,000 +12%
---------------------------------------------------------------------


This is not necessarily a true indication of the actual price of single-family homes in all sectors of the Greater Montreal area, but rather an indication of the trend in the average cost of properties located in the areas covered by the GMREB.

About the GMREB

The Greater Montreal Real Estate Board is a non-profit organization and has more than 9,000 members, real estate brokers and agents. 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.

Contact Information

  • Greater Montreal Real Estate Board
    Chantal de Repentigny, Assistant Director
    Communications, Industry Relations and Legal Affairs
    (514) 762-2181, extension 130
    chantal.derepentigny@gmreb.qc.ca