April 2012: Many MLS® Sales Records Set in Montréal Metropolitan Area
Île-des-Sœurs, May 8, 2012 – Residential MLS® sales in the Montréal Census Metropolitan Area (CMA) increased by 16 per cent in April 2012 compared to April 2011, according to the Greater Montréal Real Estate Board (GMREB). This was the eleventh consecutive monthly increase in sales, and the second best result for a month of April after the record set in 2010.
“The April 2012 increase in sales in the Montréal CMA was the largest among the province’s six metropolitan areas,” said Diane Ménard, Vice-President of the GMREB Board of Directors. “It’s thanks to the strong performance of Montréal’s suburbs that residential sales increased so dramatically compared to the same month last year,” she added.
The area of Vaudreuil-Soulanges registered a 27 per cent increase in residential sales, its best result ever for a month of April. Sales on the South Shore grew by 26 per cent, rebounding from the same month last year when sales on the South Shore posted their largest decrease.
The North Shore and Laval also registered their second best month of April, with respective sales increases of 17 and 19 per cent. Last but not least came the Island of Montréal with a very respectable 8 per cent increase in MLS® sales.
In terms of property categories, single-family homes posted the best result as sales of this property category grew by 18 per cent (3,130 transactions), followed by condominiums at 14 per cent (1,589 transactions), and plexes at 12 per cent (472 transactions). The number of active listings for the entire Montréal CMA increased by 10 per cent in April 2012 compared to April in 2011, with a total of 28,632 residential properties for sale by a real estate broker. This was the largest supply of properties available for a month of April in eight years.
As for prices, all three property categories registered an increase in median price. The median price of single-family homes grew at a slower pace than in the three previous months, at 3 per cent, to reach $272,000. The increase in median price of condominiums was also more moderate at 2 per cent, reaching $223,950. The median price of plexes increased by 6 per cent to reach $412,000 in the Montréal Metropolitan Area.
The MLS® Home Price Index
Here is the MLS® HPI data for April 2012:
For more information, please visit www.homepriceindex.ca .
About the Greater Montréal Real Estate Board
The Greater Montréal Real Estate Board is a non-profit organization that brings together most of the real estate brokers who work in the Greater Montréal area. With more than 10,000 members, it is the second largest board in Canada. Its mission is to actively promote and protect its members' professional and business interests in order for them to successfully meet their business objectives.