Third Increase in Sales in the Past Four Months for the Montreal Area Real Estate Market

ÎLE-DES-SOEURS, QUÉBEC--(Marketwired - Oct. 7, 2014) - 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, 2,552 residential sales transactions were concluded in September 2014, a 7 per cent increase compared to September of last year. This was the third increase in sales in the past four months.

"We just witnessed the best month of September since 2011 in terms of residential sales," said Diane Ménard, Vice-President of the GMREB Board of Directors.

Click here to watch the July 2014 statistics video

Click here to see the statistics charts and the Property Price Index.

Single-family homes posted very solid results in September, as sales of this property category increased by 11 per cent across the CMA. Vaudreuil-Soulanges turned in an excellent performance with a 41 per cent increase in single-family home sales and the North Shore also performed well with a 20 per cent increase. Condominium sales across the CMA rose by 4 per cent in September, while plex sales registered a small decrease of 1 per cent compared to September 2013.

Geographically, with the exception of a 4 per cent decrease in sales on the South Shore, all main areas of the Montréal CMA registered sales growth in September. For all property categories combined, Vaudreuil-Soulanges led the way with a 41 per cent jump in sales, followed by the North Shore with a 15 per cent increase, the Island of Montréal with an 8 per cent increase, and Laval with a 2 per cent increase.

The median price of single-family homes across the Montréal CMA rose by 2 per cent compared to September 2013 to reach $283,750. After falling by 1 per cent in August, the median price of condominiums grew by 3 per cent to reach $234,000. Finally, the median price of plexes stood at $428,000, a 2 per cent increase compared to September of last year.

The number of properties listed on the real estate brokers' Centris^® system continued its upward trend, but at a more moderate pace. The supply of properties for sale was 8 per cent higher in September 2014 than it was in September of last year.

About the Greater Montréal Real Estate Board

The Greater Montréal Real Estate Board is a non-profit organization with more than 9,300 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.ca 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 13,000 real estate brokers.

For September 2014 statistics charts, click here.

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