Greater Montreal Real Estate Board

Greater Montreal Real Estate Board

July 08, 2009 08:30 ET

MLS® Residential Statistics for the Montreal Metropolitan Area

Second Consecutive Sales Increase in June

ILE-DES-SOEURS, QUEBEC--(Marketwire - July 8, 2009) -



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Important Note

The Greater Montreal Real Estate Board publishes its MLS® sales
statistics by Montreal Metropolitan Area territory, as defined by
Statistics Canada during the last census. The list of municipalities that
make up this territory is available at www.statcan.ca.

In addition, the Greater Montreal Real Estate Board uses the median price
to measure the evolution of property prices. The median price is the middle
price, in other words, half of the transactions had a lower price and the
other half had a higher price.
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MLS® sales in the Montreal Metropolitan Area increased by 14 per cent in June 2009 compared to June 2008, the second consecutive monthly increase, reported the Greater Montreal Real Estate Board. Property prices also continued to climb, with the median price of a single-family home increasing by 4 per cent.

"Despite the current economic situation, the Montreal real estate market is thriving," said Michel Beausejour, FCA, Chief Executive Officer of the GMREB. "Sales are up for the second consecutive month and prices continue to climb. The stability we're seeing in the Montreal resale market is good news for consumers and for the Quebec economy," he added.

All property categories registered an increase in sales in June 2009 compared to the same month last year. With 2,524 transactions, single-family homes registered the largest increase at 16 per cent. Single-family home sales were especially strong on the Island of Montreal (+24 per cent). Condominium sales grew by 10 per cent and plex sales by 12 per cent.



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MLS® Residential Statistics
Montreal Metropolitan Area
June 2009 versus June 2008
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Variation
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Active listings 22,047 +2%
New listings 4,862 -3%
Total sales 4,200 +14%
Single-family 2,524 +16%
Condominiums 1,172 +10%
Plexes (2 to 5 dwellings) 498 +12%
Volume of sales $1,157,427,624 +17%
Median price
Single-family $240,000 +4%
Condominiums $198,000 0%
Plexes (2 to 5 dwellings) $355,500 +5%
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Source: Greater Montreal Real Estate Board by Centris®


In terms of prices, the median price of single-family homes grew by 4 per cent in June 2009 compared to June 2008, to reach $240,000. The increase was higher on the Island of Montreal (+9 per cent), where the median price is now $320,000. The median price of condominiums remained stable, whiles that of plexes grew by 5 per cent.

"This steady increase in prices confirms to buyers and sellers that Montreal real estate remains a solid investment," said Mr. Beausejour.

All geographic areas registered an increase in sales in June 2009 compared to the same month last year. Vaudreuil-Soulanges and the South Shore led the way with increases of 19 per cent and 17 per cent, respectively. Sales on the Island of Montreal grew by 14 per cent while the North Shore and Laval posted an 11 per cent increase.

As at June 30, 2009, the number of active listings on the MLS® system increased by 2 per cent in comparison with the same date last year.

Sales in the Montreal Metropolitan Area were up 4 per cent in the second quarter of 2009 compared to the second quarter of 2008. Property prices also rose, with the median price of a single-family home increasing by 2 per cent.

Single-family homes registered the largest increase in sales in the second quarter of 2009, growing by 7 per cent compared to the same period last year. Condominium sales increased by 1 per cent and plex sales remained stable.



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MLS® Residential Statistics
Montreal Metropolitan Area
April to June 2009 versus April to June 2008
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Variation
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Active listings (overall average) 25,247 +8%
New listings 17,033 -9%
Total sales 13,782 +4%
Single-family 8,341 +7%
Condominiums 3,916 +1%
Plexex (2 to 5 dwellings) 1,516 0%
Volume of sales $3,708,395,000 +7%
Median price
Single-family $235,000 +2%
Condominiums $194,000 +3%
Plexes (2 to 5 dwellings) $350,000 +3%
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Source: Greater Montreal Real Estate Board by Centris®


In terms of prices, the median price of a single-family home reached $235,000 in the second quarter of the year, a 2 per cent increase compared to the same period in 2008, while the median price of condominiums and plexes increased by 3 per cent.

About the Greater Montreal Real Estate Board

The Greater Montreal Real Estate Board is a non-profit organization that brings together most of the real estate brokers and agents who work in the Greater Montreal area. With close to 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 and maintain their predominance in the real estate industry.

For June 2009 statistics charts: http://www.centris.ca/upl/MT/Tableaux%20Communiques%20CIGM%202009M6_ENG.pdf

For year-to-date statistics charts: http://www.centris.ca/upl/MT/Tableaux%20Communiques%20CIGM%202009M6cum_ENG.pdf

For a more detailed analysis, watch for the MLS® Barometer on August 11.

Contact Information

  • Greater Montreal Real Estate Board
    Chantal de Repentigny, Assistant Director
    Communications, Industry Relations and Legal Affairs
    514-762-2440, extension 130
    chantal.derepentigny@gmreb.qc.ca