Montréal’s Residential Real Estate Market: Most Active Month of April Since 2012
L’Île-des-Sœurs, May 4, 2017 – 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, 4,798 residential sales were concluded in April 2017, a 1 per cent increase compared to April of last year. This was the most active month of April since 2012.
Sales by geographic area
- Two of the five main areas of the Montréal CMA registered an increase in sales in April: Vaudreuil-Soulanges (+29 per cent) and the South Shore (+3 per cent).
- Sales were unchanged on the Island of Montréal, and decreased slightly in Laval (-3 per cent) and on the North Shore (-2 per cent).
Sales by property category
- Condominiums were the only property category to register an increase in sales in April, as the number of condo transactions rose by 9 per cent.
- Sales of single-family homes (-3 per cent) and plexes (-1 per cent) posted slight decreases.
Prices
- Condominiums and plexes registered moderate price increases. The median price of plexes reached $488,000, a 4 per cent increase compared to April of last year, while that of condominiums stood at $240,000, a 2 per cent increase.
- The median price of single-family homes rose by 7 per cent compared to April 2016, to reach $309,000. This was the largest increase since July 2011.
“Price increases were more sustained for single-family homes, as market conditions for this property category once again give sellers the upper hand,” said Mathieu Cousineau, President of the GMREB Board of Directors. “The number of active listings has dropped significantly over the past year for single-family homes, which helped create a certain rarity,” added Mr. Cousineau.
Number of properties for sale
The downward trend in the supply of properties for sale continued in April, as the number of residential properties listed on the real estate brokers’ Centris®system (29,519) fell by 14 per cent compared to April of last year.
