Strong End to the Year on Montréal's Residential Real Estate Market

L'Île-des-Sœurs, January 8, 2019 - 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, 2,825 residential sales were concluded in December 2018, a 3 per cent increase compared to December of 2017. It also represents a new sales record for a month of December and the 46th consecutive increase in transactions.

Sales by geographic area

·         Five of the six main areas of the Montréal CMA registered an increase in sales in December.

·         Vaudreuil-Soulanges and Saint-Jean-sur-Richelieu clearly stood out with respective sales increases of 13 per cent and 8 per cent.

·         Transactions were also on the rise on the North Shore (+6 per cent), in Laval (+5 per cent) and on the South Shore (+3 per cent).

·         The Island of Montréal was the only area that posted a decrease in sales, as transactions fell slightly by 1 per cent compared to December of 2017.

Sales by property category

·         Across the Montréal CMA, the number of single-family home transactions rose by 3 per cent (1,491 sales) while condominium transactions grew by 2 per cent (993 sales). In contrast, plex transactions fell by 1 per cent (336 sales).

Prices

·         The median price of single-family homes and plexes increased significantly across the Montréal CMA in December, reaching $327,450 (+7 per cent) and $525,000 (+8 per cent) respectively.

·         The median price of condominiums rose by 3 per cent, reaching $272,863.

Number of properties for sale

In December, there were 18,970 active residential listings in the real estate brokers' Centris system, an 18 per cent drop compared to one year earlier. 



About the Greater Montréal Real Estate Board 

The Greater Montréal Real Estate Board is a non-profit organization with more than 9,500 members: real estate brokers. Its mission is to actively promote and protect its members’ professional interests in order for them to successfully meet their business objectives.

About Centris

Centris.cais Québec’s real estate industry website for consumers, grouping all properties for sale by a real estate broker under the same address. Société Centris provides real estate industry stakeholders with access to real estate data and a wide range of technology tools. Centris also manages the collaboration system used by more than 13,000 real estate brokers in Québec.

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For November 2018 statistics charts, click here. 

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


For further information:  

Taïssa Hrycay
Director, Communications and Public Relations
Greater Montréal Real Estate Board
Tel.: 514-762-2440, ext. 1257
taissa.hrycay@cigm.qc.ca


Nathalie Rochette
Assistant Manager, Communications and Public Relations
Greater Montréal Real Estate Board
Tel.: 514-762-2440, ext. 238
nathalie.rochette@cigm.qc.ca