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MLS(R) Residential Statistics for the Montreal Metropolitan Area February 2012: MLS(R) Sales Steam Ahead!

MLS(R) Residential Statistics for the Montreal Metropolitan Area

February 2012: MLS(R) Sales Steam Ahead!

ILE-DES-SOEURS, QUEBEC, Mar 07, 2012 (MARKETWIRE via COMTEX) -- The usual cold dreary days of February do not seem to have affected the real estate market. In fact, according to MLS(R) data, the Greater Montreal Real Estate Board (GMREB) registered a 9% increase in sales throughout the Montreal Metropolitan Area as compared to February 2011. This marks the ninth consecutive increase and the strongest one since April 2010.

"Active listings grew by 13% in February with almost 29,000 residential properties for sale by real estate brokers in the Greater Montreal area," says Patrick Juaneda, President of the GMREB Board of Directors. "Consequently, consumers who are using the services of a broker have access to the largest inventory of properties for sale," added Mr. Juaneda.

The Vaudreuil-Soulanges region continued to lead the way with an overall 26% increase in residential sales for February 2012. The Laval and the South Shore regions are tied at second place with an 11% increase, followed by a 7% increase for the Island of Montreal and a 5% increase for the North Shore relative to the same period last year.

                                MLS(R) Residential Statistics
                                 Montreal Metropolitan Area
                             February 2012 versus February 2011
        Active listings                                   28,804                +13%
        New listings                                       8,839                 18%
        Total sales                                        4,415                 +9%
          Single-family homes                              2,647                 +6%
          Condominiums                                     1,394                +15%
          Plexes (2 to 5 units)                              373                + 7%
        Sales volume                              $1,364,315,329               + 15%
        Median price
          Single-family homes                           $266,000                 +5%
          Condominiums                                  $219,925                 +2%
          Plexes (2 to 5 units)                         $411,500                 +5%
        Source: Greater Montreal Real Estate Board by Centris(R)

For the 23rd consecutive month, condominiums are the performance leader out of all property categories with 1,394 transactions, a 15% increase relative to February 2011. Single-family homes increased by 6% despite a slight 2% decrease in January 2012. Plexes registered a 7% increase.

As regards median prices, three property categories continue to do well. In fact, the median prices of single-family homes and plexes were up by 5% in February 2012 to $266,000 and $411,500, respectively. The median price of condominiums grew by 2% to reach $219,295.

The MLS(R) Home Price Index

Here is the MLS(R) HPI data for February 2012:

                                 Montreal Metropolitan Area
                                        February 2012
          January 2005 = 100                   Composite HPI    12-Month Variation
          Montreal Metropolitan Area                   148.1                  1.6%
          Island of Montreal                           149.5                  0.5%
          Laval                                        149.7                  2.0%
          North Shore                                  144.7                  0.1%
          South Shore                                  149.8                  1.0%
          Vaudreuil-Soulanges                          140.9                  2.0%

For more information, please consult the Internet site: http://homepriceindex.ca .

About the Greater Montreal Real Estate Board

The Greater Montreal Real Estate Board is a non-profit organization and has more than 10,500 members: real estate brokers. It is the second most important board in Canada and its mission is to actively promote and protect its members' professional and business interests in order for them to successfully meet their business objectives.

For February 2012 statistics charts, click here: http://communications.centris.ca/Tableaux/2012/Tableaux_Communiques_CIGM_2012M02_ENG.pdf

For year-to-date statistics charts, click here: http://communications.centris.ca/Tableaux/2012/Tableaux_Communiques_CIGM_2012M02cum_ENG.pdf


SOURCE: Greater Montreal Real Estate Board