Greater Montreal Real Estate Board

Greater Montreal Real Estate Board

April 04, 2006 09:00 ET

GMREB: 14,425 Properties Changed Hands in the First Quarter of 2006

ILE-DES-SOEURS, QUEBEC--(CCNMatthews - April 4, 2006) - A total of 14,425 residential sales were recorded on the Greater Montreal Real Estate Board (GMREB) S.I.A.®/MLS® System in the first quarter of 2006, which makes it the second best quarter of all time after 2002, when 16,024 sales were closed.

According to statistics published by the GMREB, the average price of a single-family home for the first three months of 2006 was $207,000, compared to $195,000 at the same time a year ago, which is a 6% increase.



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Average price Variation
Zone (single-family) 2005-2006
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Montreal $312,000 +2%
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Laval $211,000 +9%
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Monteregie $196,000 +8%
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Laurentians $187,000 +8%
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Lanaudiere $152,000 +5%
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The total sales dollar volume of units sold for the first quarter of 2006 was $2.98 billion, an 11% increase compared to the previous record of $2.68 billion set in 2005.

"The number of units sold confirms that the market remains strong and, as we had predicted earlier this year, price increases have stabilized," says Michel Beausejour, FCA, GMREB Chief Executive Officer.

March 2006

According to the GMREB statistics, 6,332 sales were registered in March 2006, up by 5.5% when compared to the 6,003 sales for the same time period a year ago.

In March, the total sales dollar volume of units sold was $1.32 billion, a 10% increase when compared to the total of $1.2 billion in March 2005.

As of March 31, there were 36,642 residential listings on the S.I.A.®/MLS® System, while there were 32,323 at the same time last year. Also, 10,697 new listings were entered in our system in March 2006, an increase of 13% compared to the 9,479 new listings entered in March 2005.

"That's good news for sellers because the market is still very active, and also for buyers because the number of active listings keeps increasing, which gives them a broader choice of properties," adds Michel Beausejour.

According to GMREB statistics, the average price of single-family homes was $211,000 in March 2006, up by 6% when compared to $199,000 in March 2005.



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Average price Variation
Zone (single-family) 2005-2006
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Montreal $314,000 -1%
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Laval $212,000 +10%
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Monteregie $199,000 +9%
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Laurentians $185,000 +4%
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Lanaudiere $154,000 +5%
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This is not necessarily a true indication of the actual price of single-family homes, 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 close to 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 Montréal Real Estate Board
    Chantal de Repentigny, Assistant Director
    Communications, Industry Relations and Legal Affairs
    (514) 762-2181, extension 130
    chantal.derepentigny@gmreb.qc.ca