L'ÎLE-DES-SŒURS, QC, July 7, 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, 3,627 residential sales were concluded in June 2015, an 11 per cent increase compared to June 2014. This was the fourth consecutive increase in sales and the most active month of June since 2009. Click here to watch the June 2015 statistics video.
"In the past few months, sales have been growing significantly faster than the number of listings, which means that market conditions have started to tighten again," said François Bissonnette, President of the GMREB Board of Directors. "However, the balance of power in negotiations is still, generally speaking, in the hands of buyers for condominiums," he added.
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Variation by geographic area
- The North Shore clearly stood out in June 2015, registering a 26 per cent increase in residential sales including, more specifically, a 33 per cent increase in condominium sales.
- The area of Vaudreuil-Soulanges also performed well in June with a 13 per cent increase in sales compared to June of last year.
- The other areas of the CMA also contributed to June's increase in sales, as the number of transactions rose by 7 per cent on the Island of Montréal and in Laval, and by 5 per cent on the South Shore.
Statistics by property category
- Single-family homes registered the largest increase in sales in June 2015, at 15 per cent.
- Sales of plexes (2 to 5 dwellings) rose by 11 per cent.
- Condominium sales increased by 4 per cent after registering a slight decrease (-1 per cent) in May.
- For the Montréal CMA as a whole, the median price of single-family homes ($295,000) and condominiums ($240,000) increased by 2 per cent compared to June 2014.
- In contrast, the median price of plexes fell slightly by 2 per cent to reach $438,000.
Number of properties for sale
Although the upward trend continued in June, to the tune of 2 per cent, this was the smallest increase in the number of active listings in more than four years in the Montréal 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 June 2015 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 - June 2015 (CNW Group/Greater Montréal Real Estate Board)". Image available at: https://photos.newswire.ca/images/download/20150707_C5786_PHOTO_EN_437095.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