Centris(R) Residential Sales Statistics - October 2015 - Sales are Up, Inventory is Down on Montréal's Residential Real Estate Market

L'ÎLE-DES-SŒURS, QC, Nov. 5, 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, 2,860 residential sales were concluded in October 2015, a 9 per cent increase compared to October of last year. This was the eighth consecutive monthly increase in sales and the most active month of October in four years. Click here to watch the October 2015 statistics video.

For more information, please visit www.homepriceindex.ca.

Sales by geographic area

• The North Shore and South Shore both registered a significant increase in sales at 14 per cent.
• The Island of Montréal continued to post solid results: after a 9 per cent increase in August and an 8 per cent increase in September, sales rose by 10 per cent in October.
• Laval registered a slight drop in sales of 2 per cent, while the decrease was more pronounced in the Vaudreuil-Soulanges area (-15 per cent).

Statistics by property category

• Condominium and single-family home sales were particularly strong in October, with respective increases of 11 and 10 per cent.
• After two months of strong growth, plex sales fell by 3 per cent in October.

Prices

• For the Montréal CMA as a whole, the median price of single-family homes reached $300,000 for the first time ever, rising by 5 per cent compared to October of last year; this was the largest increase in the past 22 months.
• The median price of plexes stood at $454,500, a 1 per cent increase compared to October 2014.
• The median price of condominiums ($240,000) registered its first decrease in 2015, falling by 3 per cent.

Number of properties for sale

"It's important to point out that October's data show that the supply of properties for sale in the Montréal area decreased for the first time in just over five years," noted Sylvain Girard, Vice-President of the GMREB Board of Directors. The 33,014 properties listed on the Centris^® system in October represent a 1 per cent decrease compared to the same month last year and the first drop in five years.

About the Greater Montréal Real Estate Board

The Greater Montréal Real Estate Board is a non-profit organization with close to 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 October 2015 statistics charts, click here.

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

SOURCE Greater Montréal Real Estate Board

Image with caption: "Centris(R) Residential Sales Statistics – October 2015 (CNW Group/Greater Montréal Real Estate Board)". Image available at: http://photos.newswire.ca/images/download/20151105_C6320_PHOTO_EN_537284.jpg

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