Centris® Residential Sales Statistics - April 2016 - Montréal Area Residential Real Estate Market: Condominiums Performed Well in April

L'ÎLE-DES-SŒURS, QC, May 5, 2016 /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, 4,798 residential sales were concluded in April 2016, a 3 per cent increase compared to April 2015 and the 14th consecutive monthly increase in sales.

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Sales by geographic area

• There were significant variations in sales results in the different areas of the Montréal CMA in April: Laval and the Island of Montréal were very dynamic with sales increases of 10 per cent and 8 per cent respectively, while the North Shore (-1 per cent), the South Shore (- 2 per cent) and Vaudreuil-Soulanges (-9 per cent) registered their first monthly decrease in sales since the start of 2016.
• The Island of Montréal registered its most active month of April in six years.    

Sales by property category

• Condominiums continued to post solid results, as sales of this property category grew by 7 per cent in April thanks particularly to an 11 per cent increase on the Island of Montréal.
• The number of single-family and plex transactions registered respective increases of 1 and 4 per cent.

Prices

• The median price of single-family homes throughout the Montréal CMA stood at $290,000 in April. This represents a 1 per cent increase compared to April of last year.
• For a second consecutive month, the median price of plexes registered a significant increase, rising by 6 per cent to reach $469,000.
• The median price of condominiums ($235,000) rebounded in April, registering a 2 per cent increase. This follows two consecutive decreases in February (-2 per cent) and March (-1 per cent).

Number of properties for sale

For a seventh consecutive month, the number of properties for sale on the real estate brokers' Centris^® system fell, with the number of active listings decreasing by 8 per cent compared to April 2015.

"Price growth remains moderate in the Montréal area, even though the supply of properties for sale is decreasing and sales are increasing steadily," said Daniel Dagenais, President of the GMREB Board of Directors. "Cumulatively for the first four months of 2016, the median price of single-family homes increased by 1 per cent, while that of condominiums remained stable. This means that the Montréal CMA continues to be an affordable area for buyers," he added.

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 – more than 100,000 – 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 April 2016 statistics charts, click here.

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

SOURCE Greater Montréal Real Estate Board

Image with caption: "Centris® Residential Sales Statistics - April 2016 - Montréal Area Residential Real Estate Market: Condominiums Performed Well in April (CNW Group/Greater Montréal Real Estate Board)". Image available at: http://photos.newswire.ca/images/download/20160505_C2730_PHOTO_EN_682873.jpg

Manon Stébenne, Manager, Communications and Public Relations, Greater Montréal Real Estate Board, Tel.: [phone], ext. 157, [email protected]