Greater Montreal Real Estate Board

Greater Montreal Real Estate Board

October 07, 2009 08:30 ET

Montreal Real Estate Market: Best September on Record

MLS® Residential Statistics for the Montreal Metropolitan Area

ILE-DES-SOEURS, QUEBEC--(Marketwire - Oct. 7, 2009) - Sales in the Montreal Metropolitan Area increased by 5 per cent in September 2009 compared to September 2008, according to the Greater Montreal Real Estate Board's MLS(R) statistics. Property prices also continued to climb, with a 7 per cent increase in median price for single-family homes.

"September 2009 was the best September on record for the Montreal market. We're seeing a balanced market now, so both buyers and sellers are benefiting," said Michel Beausejour, FCA, Chief Executive Officer of the GMREB.

In terms of sales, single-family homes led the way with an 8 per cent increase in September 2009 compared to the same month last year, while condominium and plex sales increased by 1 and 3 per cent, respectively.

MLS(R) Residential Statistics
Montreal Metropolitan Area
September 2009 versus September 2008
 Variation
Active listings20,912-7%
New listings6,110-11%
Total sales3,140+5%
  Single-family1,894+8%
  Condominiums892+1%
  Plexes (2 to 5 dwellings)347+3%
Volume of sales$894,528,740+14%
Median price  
  Single-family$243,500+7%
  Condominiums$200,000+7%
  Plexes (2 to 5 dwellings)$347,000+5%
Source: Greater Montreal Real Estate Board by Centris(R)

As for prices, the median price of single-family homes and condominiums increased by 7 per cent in September 2009 compared to September 2008. Plexes also stood their ground, with a 5 per cent increase in median price.

"Montreal's real estate prices have continued to increase slowly but steadily, once again confirming that Montreal is not only a desirable place to live, but also a solid investment so far as real estate is concerned," added Mr. Beausejour.

Geographically, the Vaudreuil-Soulanges area stood out in September 2009 with a 40 per cent increase in sales compared to September 2008. The Island of Montreal and the South Shore also turned in strong performances, as sales in both of these areas increased by 9 per cent. The number of transactions increased by 3 per cent in Laval and decreased by 9 per cent on the North Shore.

As at September 30, 2009, the number of active listings on the MLS(R) system decreased by 7 per cent in comparison with the same date last year.

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 September 2009 statistics charts, click here: http://www.centris.ca/upl/MT/tableau_communiques/TableauxCommuniquesCIGM2009M9_ENG.pdf

For year-to-date statistics charts, click here: http://www.centris.ca/upl/MT/tableau_communiques/TableauxCommuniquesCIGM2009M9cum_ENG.pdf

Important Note
The Greater Montreal Real Estate Board publishes its MLS(R) 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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