Montreal home sales up, Report

0
382
Montreal home sales up, Report
Montreal home sales up, Report

Montreal area home sales in April up 10 per cent from year ago.

The Greater Montréal Real Estate Board (GMREB) has just released its most recent residential real estate market statistics for the Montréal Census Metropolitan Area (CMA), based on the real estate brokers’ Centris® provincial database. In total, 5,432 residential sales were concluded in April 2018, a 10 per cent increase compared to April of last year. This was the 38th consecutive increase in sales and the best month of April in eight years.

Sales by geographic area

  • Apart from Vaudreuil-Soulanges, where sales were unchanged compared to April of 2017, all of the other main areas of the Montréal CMA registered a significant increase in sales.
  • Suburban areas led the way, as sales rose by 15 per cent on the South Shore, by 13 per cent in Saint-Jean-sur-Richelieu and by 12 per cent in Laval and on the North Shore.
  • As for the Island of Montréal, sales increased by 6 per cent.

Sales by property category

  • Condominium sales soared once again in April with an 18 per cent increase in transactions. In fact, this was the twelfth consecutive month of double-digit sales growth for this property category.
  • Single-family homes and plexes both registered a 6 per cent increase in sales compared to April of last year.

Prices

  • Prices were contained across the Montréal CMA in April. The median price of single-family homes stood at $317,000, a 4 per cent increase compared to one year earlier.
  • The median price of condominiums increased by 2 per cent to reach $245,350, while that of plexes increased by 3 per cent to reach $500,000.

Number of properties for sale

Across the Montréal CMA, there were 25,466 active residential listings in the Centris® system in April, a 17 per cent drop compared to April of 2017.

“The decrease in the number of properties for sale means that market conditions are becoming increasingly favourable to sellers,” said Mathieu Cousineau, President of the GMREB Board of Directors.

LEAVE A REPLY

Please enter your comment!
Please enter your name here