Greater Montreal Real Estate Board

Greater Montreal Real Estate Board

May 08, 2013 09:00 ET

Montreal Area Registers Smallest Decrease in Residential Sales in the Past Six Months

Centris® Residential Sales Statistics for the Montréal Metropolitan Area

ILE-DES-SOEURS, QUEBEC--(Marketwired - May 8, 2013) - According to the real estate brokers' Centris® provincial database, there were 4,605 residential sales transactions concluded in the Montréal Census Metropolitan Area (CMA) in April 2013, said the Greater Montréal Real Estate Board (GMREB). Although this represents an 11 per cent decrease compared to April 2012, it was the smallest drop in sales in the past six months.

"Sales have decreased every month since the entry into force of the new mortgage rules last July," said Diane Ménard, Vice-President of the GMREB Board of Directors. "Despite the drop in sales, April 2013 was a better month than that of April 2011, when 4,474 transactions were concluded," she added.

Centris® Residential Statistics
Montréal Metropolitan Area
April 2013 versus April 2012
Variation
Active listings 33,099 16 %
New listings 7,745 10 %
Total sales 4,605 -11 %
Single-family 2,777 -11 %
Condominiums 1,421 -10 %
Plexes (2 to 5 dwellings) 405 - 13 %
Volume of sales $ 1,449,092,991 -10 %
Median price
Single-family $ 278,000 2 %
Condominiums $ 222,000 - 1 %
Plexes (2 to 5 dwellings) $ 425,000 3 %
Source: Greater Montréal Real Estate Board by Centris®

All three property categories registered a similar decrease in sales in April 2013. Sales of single-family homes fell by 11 per cent, condominium sales dropped by 10 per cent and plex sales slipped by 13 per cent compared to April of last year.

All five main areas of the Montréal CMA registered a decrease in sales in April 2013 compared to April 2012. The largest decreases, for a second consecutive month, were in Laval (-20 per cent) and Vaudreuil-Soulanges (-13 per cent), while the North Shore (-7 per cent) and South Shore (-6 per cent) posted the smallest decreases. Sales on the Island of Montréal fell by 12 per cent.

As for the median price of single-family homes, Laval ($285,000), the South Shore ($270,000) and the North Shore all registered an increase of 2 per cent, while the Island of Montréal ($380,000) registered a 1 per cent increase. The median price of single-family homes remained stable in Vaudreuil-Soulanges ($270,000) compared to April 2012.

As at April 30, 2013, there were 33,099 active listings in the Centris® system, up 16 per cent compared to the same period last year. Once again, the increase in active listings was most noticeable for condominiums (29 per cent). The increase in supply was more moderate for single-family homes (8 per cent) and plexes (12 per cent).

Geographically, the increase in the number of active listings was largest on the Island of Montréal (+26 per cent) and in Laval (+21 per cent). Vaudreuil-Soulanges, the South Shore and the North shore registered respective increases of 14, 9 and 4 per cent.

Property Price Index for April 2013

Montréal Metropolitan Area
April 2013
January 2005 = 100 Composite HPI Annual Change
Montréal Metropolitan Area 154.1 1.9%
Island of Montréal 154.9 1.2%
Laval 157.8 1.9%
North Shore 151.5 2.7%
South Shore 155.1 2.4%
Vaudreuil-Soulanges 146.4 1.3%

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 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®, a division of the Greater Montréal Real Estate Board, offers technology resources to Québec's 12 real estate boards and their 14,000 real estate brokers. 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.

For April 2013 statistics charts, click here.

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

Contact Information

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