Greater Montreal Real Estate Board

Greater Montreal Real Estate Board

May 07, 2008 09:58 ET

MLS® Residential Statistics for the Montréal Metropolitan Area

Residential Sales Beat the Record Set in April Last Year

ILE-DES-SOEURS, QUEBEC--(Marketwire - May 7, 2008) - The Greater Montreal Real Estate Board (GMREB) announces that the number of residential sales in April beat the record set last year for the same period by 1%, reaching 5,172 transactions, according to data from the MLS® system.

"This is good news for buyers and sellers because the residential real estate market has remained strong since the beginning of the year with a number of transactions that approximates the high recorded in 2007 for the same period," says Michel Beausejour, FCA, Chief Executive Officer of the GMREB. "If we combine this level of transactions with a 3% increase of the number of active listings, we see that the market is still active."

In the Montreal Metropolitan Area, the increases of resales for condominiums (+7%) and plexes (+6%) compensate for the slight decrease recorded for single-family homes (-4%).



MLS® Residential Statistics
Montreal Metropolitan Area
April 2008
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Variation
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Active listings 25,505 +3%
New listings 7,480 +13%
Total sales 5,172 +1%
Single-family 3,015 -4%
Condominiums 1,519 +7%
Plexes (2 to 5 dwellings) 567 +6%
Volume of sales $1,322,215,536 +5%
Median price
Single-family $230,000 +6%
Condominiums $182,000 +2%
Plexes (2 to 5 dwellings) $340,000 +8%
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Source: Greater Montreal Real Estate Board by Centris™


On the geographic level, Laval's condominiums delivered a strong performance and stood out with a 10% increase in property transactions in April 2008. In other sectors, activity remained stable (Montreal 0%, South Shore +1%, North Shore -1% and Vaudreuil-Soulanges - 2%) in comparison with the same month last year.

In April, the median price of a single-family home in the Montreal Metropolitan Area reached $230,000, which is 6% higher than for the same period last year. The median price for condominiums progressed by 2% to reach $182,000, while plexes (2 to 5 dwellings) saw the strongest increase in a year, with their median price now reaching $340,000, an 8% increase.

"Steady price increases as well as sustained sales show that the residential real estate market is robust, which is excellent news for Montreal," says Michel Beausejour.

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 more than 9,000 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 April 2008 statistics charts, click here (http://file.marketwire.com/release/gmreb_ENG.pdf).

Important Note

From now on, the Greater Montreal Real Estate Board will publish 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 will use 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.

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