Centris® Residential Sales Statistics - January 2015 - Residential Sales Slow in January in the Montréal Area

ÎLE-DES-SŒURS, QC, Feb. 6, 2015 /CNW Telbec/ - The Greater Montréal Real Estate Board (GMREB) today released its residential sales statistics for the Montréal Census Metropolitan Area (CMA). According to the real estate brokers' Centris^® provincial database, 1,935 residential sales were concluded in January 2015, a 5 per cent decrease compared to January 2014. Click here to watch the January 2015 statistics video.

"January's results are a contrast to those of December, when sales increased by 9 per cent in the Montréal CMA," said Diane Ménard, Vice-President of the GMREB Board of Directors. "Fortunately, the recent drop in interest rates could reinvigorate the real estate market in the coming months," she added.

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Geographically, the South Shore was the only area to register an increase in sales in January, as transactions rose by 4 per cent compared to January of 2014. Otherwise, sales decreased on the Island of Montréal (-8 per cent), in Laval (-8 per cent), on the North Shore (-5 per cent) and in Vaudreuil-Soulanges (-10 per cent).

By property category, sales of single-family homes fell by 5 per cent across the CMA in January, while sales of condominiums posted a larger decrease at 9 per cent. Plexes, on the other hand, had a good start to the year, as sales of this property category grew by 10 per cent compared to January of last year.  

In terms of prices, despite a larger decrease in sales, condominiums registered the largest increase in median price, growing by 5 per cent across the CMA compared to January of last year to reach $230,485. The median price of single-family homes increased by 2 per cent to reach $277,500, while that of plexes remained relatively stable at $428,500.

Finally, the number of active listings on the real estate brokers' Centris^® system continued its upward trend. In January 2015, there were 7 per cent more properties for sale across the Montréal CMA compared to January of last year.

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 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 2015 statistics charts, click here.

SOURCE Greater Montréal Real Estate Board

Image with caption: "Centris® Residential Sales Statistics - January 2015 - Residential Sales Slow in January in the Montréal Area. (CNW Group/Greater Montréal Real Estate Board)". Image available at: http://photos.newswire.ca/images/download/20150206_C8134_PHOTO_EN_11893.jpg

For further information: Manon Stébenne, Manager, Communications and Public Relations, Greater Montréal Real Estate Board, Tel.: [phone], ext. 157, [email protected]; Josée Labrie, Coordinator, Writing and Communications, Communications and Public Relations, Greater Montréal Real Estate Board, Tel.: [phone], ext. 222, [email protected]