Greater Montreal Real Estate Board

Greater Montreal Real Estate Board

July 08, 2014 07:00 ET

Centris® Residential Sales Statistics-June 2014: Sales Increase in the Montreal Area

ÎLE-DES-SOEURS, QUÉBEC--(Marketwired - July 8, 2014) - The Greater Montréal Real Estate Board (GMREB) today released its residential sales statistics for the Montréal Census Metropolitan Area (CMA). According to the real estate brokers' Centris® provincial database, 3,298 residential sales transactions were concluded in June 2014, a 3 per cent increase compared to June of last year. This was the first increase in sales in nine months.

"The increase in sales that we saw in June is largely due to the 14 per cent increase in condominium transactions on the Island of Montréal," said Diane Ménard, Vice-President of the GMREB Board of Directors. "In fact, this was the most active month of June in the past three years for condominiums on the Island of Montréal, which bodes well for the rest of 2014," she added.

Across the Montréal CMA, sales of single-family homes increased by 2 per cent, sales of condominiums rose by 8 per cent and plex sales grew by 1 per cent. This was the first increase in condominium sales since September 2013.

Geographically, sales increased on the Island of Montréal (+10 per cent) and on the South Shore (+2 per cent), but decreased in Laval (-2 per cent), on the North Shore (-4 per cent) and in Vaudreuil-Soulanges (-1 per cent).

As for prices in the Montréal CMA, the median price of single-family homes grew by 2 per cent in June 2014 compared to June of last year, to reach $291,000. The median price of plexes increased by 5 per cent ($445,650), while that of condominiums remained virtually unchanged at $234,525.

The number of properties listed on the real estate brokers' Centris® system in June 2014 was 10 per cent higher than one year earlier. This was the 46th consecutive monthly increase in the number of active listings. For a second consecutive month, single-family homes registered the largest increase in supply.

Property Price Index for June 2014:

Montréal Metropolitan Area
June 2014
January 2005 = 100 Composite HPI Annual Change
Montréal Metropolitan Area 156.6 0.6 %
Island of Montréal 155.7 0.6 %
Laval 163.0 1.4 %
North Shore 154.7 0.5 %
South Shore 158.3 0.0 %
Vaudreuil-Soulanges 149.5 3.0 %

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

About the Greater Montréal Real Estate Board

The Greater Montréal Real Estate Board is a non-profit organization with close to 10,000 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. Centris®, a division of the Greater Montréal Real

Estate Board, offers technology resources exclusively to Québec's 12 real estate boards and their 14,000 real estate brokers.

For June 2014 statistics charts, click here.

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

Tables and a map are available at the following address: http://media3.marketwire.com/docs/centris_eng.pdf

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