Greater Montreal Real Estate Board

Greater Montreal Real Estate Board

August 07, 2012 09:00 ET

MLS® Residential Statistics for the Montreal Metropolitan Area/Single-Family Homes: Strongest Performer for 5th Straight Month

ÎLE-DES-SŒURS, QUEBEC--(Marketwire - Aug. 7, 2012) - According to the Québec real estate brokers' provincial database, sales in the Montréal Census Metropolitan Area (CMA) increased by 3 per cent in July 2012 compared to July 2011, with 2,643 transactions, said the Greater Montréal Real Estate Board (GMREB). In terms of sales by property category, single-family homes stood out with a 6 per cent increase in the number of properties sold.

"Sales of single-family homes posted a sixth consecutive monthly increase, outperforming condominiums for five straight months," said Diane Ménard, Vice-President of the GMREB Board of Directors. "However, these results are a contrast to those that we've seen in recent years, as condominium sales outperformed single-family home sales every month between October 2009 and November 2011 inclusively," she added.

MLS®Residential Statistics
Montréal Metropolitan Area
July 2012 versus July 2011
Variation
Active listings 24,827 8%
New listings 4,856 0%
Total sales 2,643 3%
Single-family 1,518 6%
Condominiums 872 1%
Plexes (2 to 5 dwellings) 252 -9%
Volume of sales $855,318,573 5%
Median price
Single-family $275,000 0%
Condominiums $233,000 1%
Plexes (2 to 5 dwellings) $440,000 8%
Source: Greater Montréal Real Estate Board by Centris®

Condominium sales did grow in July 2012 compared to July 2011, but with a more modest increase of 1 per cent, while plex sales fell by 9 per cent.

Among the five main areas of the Montréal CMA, Vaudreuil-Soulanges led the way with a 30 per cent increase in sales in July 2012, compared to July 2011. This was followed by the North Shore with a 16 per cent increase in sales and the South Shore with an 8 per cent increase. Laval took fourth place with a 6 per cent increase in sales, after ranking first last month. Finally, the Island of Montréal registered an 8 per cent decrease in sales compared to July of last year.

As for median prices, that of single-family homes remained stable in the Montréal CMA in July 2012 at $275,000. The median price of single-family homes grew by 3 per cent in both Laval ($280,000) and on the North Shore ($232,000), while it decreased by 2 per cent on the South Shore ($260,000) and in Vaudreuil-Soulanges ($255,000). The Island of Montréal posted the largest increase in median price, at 8 per cent ($385,000).

As at July 31, 2012, the number of active listings on the MLS® system increased by 8 per cent in comparison with the same date last year.

The MLS® Home Price Index

Here is the MLS® HPI data for July 2012:

Montréal Metropolitan Area
July 2012
January 2005 = 100 Composite HPI Annual Change
Montréal Metropolitan Area 151.1 2.1%
Island of Montréal 154.1 4.1%
Laval 153.2 2.5%
North Shore 147.7 1.2%
South Shore 150.1 -0.1%
Vaudreuil-Soulanges 145.4 2.5%

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 July 2012 statistics charts, http://communications.centris.ca/Tableaux/2012/Tableaux_Communiques_CIGM_2012M07_ENG.pdf.

For year-to-date statistics charts, http://communications.centris.ca/Tableaux/2012/Tableaux_Communiques_CIGM_2012M07cum_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