Centris® Residential Sales Statistics - July 2017 - Hot Month of July on Montréal's Residential Real Estate Market

L'ÎLE-DES-SOEURS, QC, Aug. 4, 2017 /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, 3,075 residential sales were concluded in July 2017, a 16 per cent increase compared to July of last year. This was the most active month of July in eight years. Click here to watch the July 2017 statistics video.

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

Sales by geographic area

• All five main areas of the Montréal CMA registered an increase in sales in July, with the Island of Montréal (+21 per cent) and Vaudreuil-Soulanges (+19 per cent) leading the way.
• Laval and the North Shore registered similar results as sales in both of these areas rose by 14 per cent compared to July 2016.
• The South Shore posted a more moderate sales increase of 6 per cent.

Sales by property category

• Condominium sales increased by 24 per cent across the CMA, with 1,071 transactions concluded. This was the third consecutive month that condo sales have increased by more than 20 per cent.
• Single-family homes also turned in an excellent performance, as sales of this property category grew by 13 per cent.
• Plex sales were also on the rise, increasing by 2 per cent compared to July of last year.

Prices

• Across the CMA, the median price of single-family homes increased by 8 per cent to reach $323,000 in July.
• Half of all plex (2 to 5 dwellings) transactions were concluded at a price higher than $489,000, a
  7 per cent increase compared to July of last year.
• Finally, the median price of condominiums stood at $256,000, which is 2 per cent higher than in July 2016.

"For single-family homes, market conditions for resales are increasingly favouring sellers, which explains why price increases have been more sustained in recent months," said Mathieu Cousineau, President of the GMREB Board of Directors. "We are also in a seller's market for plexes, while market conditions for condominiums are almost balanced," he added.

Number of properties for sale

The number of residential properties listed on the real estate brokers' Centris® system (24,412) decreased by 15 per cent compared to July of last year.

About the Greater Montréal Real Estate Board

The Greater Montréal Real Estate Board is a non-profit organization with more than 9,000 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 ? more than 90,000 ? under the same address. Centris®, a division of the Greater Montréal Real Estate Board, offers technology resources to Québec's 12 real estate boards and their 13,000 real estate brokers.

For July 2017 statistics charts, click here.

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

SOURCE Greater Montréal Real Estate Board