ÎLE-DES-SŒURS, QC, April 8, 2015 /CNW Telbec/ - 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, 4,495 residential sales were concluded in March 2015, representing a 6 per cent increase compared to March 2014 and the most active month of the past two years. Click here to watch the March 2015 statistics video.
"The effects of the recent decreases in mortgage rates were finally felt on the real estate market, as many consumers were convinced that this is an opportune time to buy a property," said Diane Ménard, Vice‑President of the GMREB Board of Directors.
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Geographically, all of the main areas of the Montréal CMA registered an increase in sales in March 2015 except for the North Shore. The South Shore stood out with a 17 per cent increase in sales compared to March of last year, and the Island of Montréal also turned in a solid performance as sales rose by 7 per cent. The areas of Laval and Vaudreuil-Soulanges both registered a sales increase of 2 per cent compared to March 2014. On the North Shore, the decrease in sales was at 5 per cent.
By property category, sales of condominiums and single-family homes throughout the CMA both increased by 7 per cent in March. Plex sales moved in the opposite direction, with 7 per cent fewer transactions compared to March of last year.
In terms of prices across the CMA, the median price of single-family homes rose by 2 per cent compared to March 2014 to reach $285,000, while the median price of condominiums ($235,000) and plexes ($445,000) registered an identical increase of 4 per cent.
Finally, the number of active listings on the real estate brokers' Centris® system continued its upward trend, as in March 2015, there were 5 per cent more properties for sale than a year earlier in the metropolitan area.
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.
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 March 2015 statistics charts, click here.
For year-to-date statistics charts, click here.
SOURCE Greater Montréal Real Estate Board
Image with caption: "Centris® Residential Statistics - Montréal Metropolitan Area - March 2015 (CNW Group/Greater Montréal Real Estate Board)". Image available at: http://photos.newswire.ca/images/download/20150408_C6651_PHOTO_EN_14037.jpg
For further information: Manon Stébenne, Manager, Communications and Public Relations, Greater Montréal Real Estate Board, Tel.: 514-762-2440, ext. 157, firstname.lastname@example.org; Josée Labrie, Coordinator, Writing and Communications, Communications and Public Relations, Greater Montréal Real Estate Board, Tel.: 514-762-2440, ext. 222, email@example.com