Greater Montreal Real Estate Board

Greater Montreal Real Estate Board

September 10, 2012 09:00 ET

MLS® Residential Statistics for the Montreal Metropolitan Area

First Drop in Sales in 15 Months

ÎLE-DES-SŒURS, QUEBEC--(Marketwire - Sept. 10, 2012) - According to the Québec real estate brokers' provincial database, sales in the Montréal Census Metropolitan Area (CMA) decreased by 7 per cent in August 2012 compared to August 2011, with 2,323 transactions, said the Greater Montréal Real Estate Board (GMREB).

"It could be that the effects of the federal government's tightened mortgage rules, the most recent of which came into force this past July, are starting to be felt," said Diane Ménard, Vice-President of the GMREB Board of Directors. "However, it's too early to make this conclusion and we'll have to see if this trend continues in coming months. Elsewhere in Canada, MLS® sales fell by 12.4% in Toronto and by 30.7% in Vancouver, where homeownership is more difficult than in Québec," she added.

Sales decreased for all property categories in August 2012 compared to August 2011. Single-family homes registered the smallest decrease at 5 per cent, while sales of both condominiums and plexes fell by 8 per cent.

MLS®Residential Statistics
Montréal Metropolitan Area
August 2012 versus August 2011
Variation
Active listings 25,028 7%
New listings 5,295 -2%
Total sales 2,323 -7%
Single-family 1,360 -5%
Condominiums 727 -8%
Plexes (2 to 5 dwellings) 233 -8%
Volume of sales $749,934,575 -2%
Median price
Single-family $280,000 4%
Condominiums $224,500 -1%
Plexes (2 to 5 dwellings) $417,000 3%
Source : Greater Montréal Real Estate Board by Centris®

Of the five main areas of the Montréal CMA, the North Shore was the only one to register an increase in sales in August 2012, at 1 per cent. Sales on the South Shore fell by 4 per cent, followed by the Island of Montréal at 5 per cent. Laval and Vaudreuil-Soulanges registered respective decreases of 20 and 21 per cent.

As for prices, the median price of single-family homes in the Montréal CMA increased by 4 per cent in August 2012 compared to August 2011, reaching $280,000. The Island of Montréal ($382,000) posted the largest increase in median price at 6 per cent, followed by the North Shore ($237,500) at 4 per cent, and by Laval ($283,000) and the South Shore ($270,000), both at 3 per cent. The median price of single-family homes in Vaudreuil-Soulanges ($263,000) fell slightly by 3 per cent compared to August 2011.

As at August 31, 2012, the number of active listings on the MLS® system increased by 7 per cent in comparison with the same date last year.

The MLS® Home Price Index

Here is the MLS® HPI data for August 2012:

Montréal Metropolitan Area
August 2012
January 2005 = 100 Composite HPI Annual Change
Montréal Metropolitan Area 151.4 2.2%
Island of Montréal 154.7 3.8%
Laval 153.1 2.6%
North Shore 147.6 1.4%
South Shore 150.1 0.1%
Vaudreuil-Soulanges 145.0 2.3%

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 more than 10,000 members: real estate brokers. It is the second largest 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.

For August 2012 statistics charts, click here (http://communications.centris.ca/Tableaux/2012/Tableaux_Communiques_CIGM_2012M08_ENG.pdf).

For year-to-date statistics charts, click here (http://communications.centris.ca/Tableaux/2012/Tableaux_Communiques_CIGM_2012M08cum_ENG.pdf).

Contact Information

  • Chantal de Repentigny
    Assistant Director, Development,
    Media Relations and Special Projects
    Communications and Industry Relations
    514-762-2440, ext. 130
    chantal.derepentigny@gmreb.qc.ca