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MLS® Residential Statistics for the Montreal Metropolitan Area

MLS® Residential Statistics for the Montreal Metropolitan Area

Greater Montreal Real Estate Board

April 10, 2012 09:28 ET

MLS® Residential Statistics for the Montreal Metropolitan Area

MLS® Sales: Tenth Consecutive Month of Growth

 

ÎLE-DES-SOEURS, QUEBEC--(Marketwire - April 10, 2012) - Residential MLS® sales in the Montréal Metropolitan Area are still going strong and registered their tenth consecutive monthly increase in March 2012, according to the Greater Montréal Real Estate Board (GMREB). MLS® sales increased by 4 per cent compared to March 2011, making March 2012 the second best month of March on record, identical to March 2007.

"After holding the title of best-performing property category for many months, condominiums were dethroned by plexes, which posted an 8 per cent increase in sales in March," said Diane Ménard, Vice-President of the GMREB Board of Directors. "In terms of active listings, real estate brokers have a very large supply of properties to present to their clients, as there are currently 29,000 homes for sale in the Montréal Metropolitan Area," she added.

As for the different geographic areas, Vaudreuil-Soulanges (-6 per cent), the best-performing area from November 2011 to February 2012, ceded its place to the North Shore, where MLS® sales increased by 9 per cent. The South Shore and the Island of Montréal both registered a 4 per cent increase in sales, while sales in Laval remained stable compared to March 2011.

In terms of property categories, plexes took the lead with 530 sales, an 8 per cent increase compared to March of last year. After being the most popular property category for the past 23 months, condominiums posted a slight increase in sales of 2 per cent, with 1,657 transactions. Sales of single-family homes grew by 5 per cent with 3,173 transactions.

As for median prices, all three property categories posted an increase compared to March 2011. The median price of condominiums increased by 7 per cent to reach $225,000, the largest increase since May 2011. The median price of single-family homes grew by 5 per cent to reach $272,000, while that of plexes increased by 1 per cent to reach $414,500.

MLS®Residential Statistics
Montréal Metropolitan Area
March 2012 versus March 2011


Variation
Active listings 29,425 13%
New listings 8,501 4%
Total sales 5,362 4%

Single-family 3,173 5%

Condominiums 1,657 2%

Plexes (2 to 5 dwellings) 530 8%
Volume of sales $1,655,850,911 9%
Median price


Single-family $272,000 5%

Condominiums $225,000 7%

Plexes (2 to 5 dwellings) $414,500 1%
Source: Greater Montréal Real Estate Board by Centris®

The MLS® Home Price Index

Here is the MLS® HPI data for March 2012:

Montréal Metropolitan Area
March 2012
January 2005 = 100 Composite HPI Annual change (in %)
Montréal Metropolitan Area 150.5 +2.3
Island of Montréal 151.9 +3.6
Laval 154.2 +4.1
North Shore 146.7 +0.5
South Shore 151.4 +0.9
Vaudreuil-Soulanges 143.1 +3.1

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

SOURCE:About the Greater Montréal Real Estate Board

The Greater Montréal Real Estate Board is a non-profit organization with more than 10,500 members: real estate brokers. It is the second largest 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 March 2012 statistics charts, click here (http://communications.centris.ca/Tableaux/2012/Tableaux_Communiques_CIGM_2012M03_ENG.pdf).

For year-to-date statistics charts, click here (http://communications.centris.ca/Tableaux/2012/Tableaux_Communiques_CIGM_2012M03cum_ENG.pdf).