Greater Montreal Real Estate Board

Greater Montreal Real Estate Board

December 09, 2013 09:00 ET

Residential Real Estate Market Remained Stable in the Montreal Area in November

Centris® Residential Sales Statistics for the Montreal Metropolitan Area

ILE-DES-SOEURS, QUEBEC--(Marketwired - Dec. 9, 2013) - The Greater Montréal Real Estate Board (GMREB) today released its residential sales statistics for the Montréal Census Metropolitan Area (CMA). According to the real estate brokers' Centris® provincial database, 2,629 residential sales transactions were concluded in November 2013, a 1 per cent increase compared to November of last year.

"Single-family home sales registered solid results in November, thanks to increases in the suburbs, particularly on the South Shore and in Vaudreuil-Soulanges which posted respective increases of 14 and 21 per cent," said Diane Ménard, Vice-President of the GMREB Board of Directors.

In contrast, both condominiums and plexes registered a decrease in sales, particularly plexes, which posted a 10 per cent drop in sales compared to last November.

The only areas that registered an increase in sales in November 2013 were the South Shore and Vaudreuil-Soulanges, at 13 per cent and 17 per cent, respectively.

The median price of single-family homes across the CMA rose by 1 per cent in November 2013 to reach $278,000. It remained stable on the South Shore and in Vaudreuil-Soulanges, increased by 3 per cent in Laval and on the North Shore, and fell by 5 per cent on the Island of Montréal. As for the median price of condominiums, it registered a 3 per cent decrease in November, reaching $233,000.

Centris®Residential Statistics
Montréal Metropolitan Area
November 2013 versus November 2012
Active listings 30,955 9 %
New listings 5,453 -3 %
Total sales 2,629 1 %
Single-family homes 1,546 5 %
Condominiums 792 -3 %
Plexes (2 to 5 units) 288 -10 %
Sales volume $847,451,953 -2 %
Median price
Single-family homes $278,000 1 %
Condominiums $233,000 -3 %
Plexes (2 to 5 5 units) $445,000 6 %
Source: Greater Montreal Real Estate Board by Centris®

Market conditions for single-family homes remained balanced across the CMA. Vaudreuil-Soulanges was the only area where the single-family home market gave buyers an advantage, while sellers still had the upper hand only in Laval.

As at November 30, 2013, there were 30,955 active listings in the Centris® system, up 9 per cent compared to the same period last year and the 39th consecutive monthly increase.

Note that, as has been the case since January 2012, condominiums once again registered the largest increase in active listings. However, November's increase of 13 per cent is slightly smaller than that observed last month.

Property Price Index for November 2013

Montréal Metropolitan Area
November 2013
January 2005 = 100 Composite HPI Annual Change
Montréal Metropolitan Area 155.1 2.7 %
Island of Montréal 153.8 0.3 %
Laval 161.2 5.1 %
North Shore 153.7 3.8 %
South Shore 157.5 4.8 %
Vaudreuil-Soulanges 145.2 0.8 %

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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® is Québec's real estate industry website for consumers, grouping all properties for sale by a real estate broker under the same address. Centris®, a division of the Greater Montréal Real Estate Board, offers technology resources exclusively to Québec's 12 real estate boards and their 14,000 real estate brokers.

For November 2013 statistics charts, click here.

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

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