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, 2,244 residential sales were concluded in January 2017, a 5 per cent increase compared to January of last year. This was the most active month of January since 2012. Click here to watch the January 2017 statistics video.
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“January’s sales increase can be largely attributed to the number of condominium transactions, which jumped by 21 per cent compared to January of last year,” said Daniel Dagenais, President of the GMREB Board of Directors. “What’s more, condominium sales increased in all geographic areas and in all price ranges,” added Mr. Dagenais.
Sales by geographic area
- For all property categories combined, January’s results show an increase in residential sales in the areas of Vaudreuil-Soulanges (+18 per cent), the Island of Montréal (+10 per cent) and the North Shore (+2 per cent).
- Sales in the areas of Laval and the South Shore were unchanged compared to January of last year.
Sales by property category
- Condominium sales in January 2017 were robust, jumping by 21 per cent, while sales of plexes (2 to 5 dwellings) grew by 6 per cent. In contrast, single-family home sales in the Montréal CMA fell slightly by 3 per cent.
- In terms of price growth, single-family homes led the way with a 6 per cent increase in median price ($297,389) across the CMA.
- The median price of plexes ($460,000) increased by 5 per cent.
- As for condominiums, their median price was flat as compared to January 2016, with half of all units selling for more than $240,000.
Number of properties for sale
The number of properties for sale (28,280 active listings), all property categories combined, dropped by 14 per cent in January across the Montréal CMA. This was the sixteenth consecutive monthly decrease.
About the Greater Montréal Real Estate Board
The Greater Montréal Real Estate Board is a non-profit organization with more than 9,000 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.
Centris.ca is Québec’s real estate industry website for consumers, grouping all properties for sale by a real estate broker – more than 90,000 – 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 January 2017 statistics charts, click here.
SOURCE Greater Montréal Real Estate Board + Newswire