Île-des-Sœurs, June 9, 2010 – There were 4,403 sales transactions in the Montréal Metropolitan Area in May 2010, an 8 per cent decrease compared to May 2009, according to the Greater Montréal Real Estate Board's MLS® statistics. "It's not unexpected to see a slowdown in the real estate market given that the market was extremely active the last few months with consumers getting back into the market following the recession," said Michel Beausejour, FCA, Chief Executive Officer of the GMREB. "Aside from experiencing some pent up demand from consumers, others were buying their properties earlier than planned, wanting to avoid an increase in mortgage interest rates. Plus, we're heading into the summer months when the real estate market tends to naturally slow down," he added.

Condominium sales in the Montréal area decreased by 6 per cent in May 2010 compared to the same month last year, while single-family and plex sales decreased by 9 and 10 per cent, respectively. Geographically, Laval performed well as sales were stable in May 2010 compared to May 2009. Sales fell slightly by 2 per cent in Vaudreuil-Soulanges, and decreased by 7 per cent on the Island of Montréal, by 11 per cent on the North Shore and by 15 per cent on the South Shore. These last two areas were the most active in May 2009, which explains their larger decrease. Despite the sales decrease, prices continued to increase in the Montréal area in May 2010. Plexes led the way with an 11 per cent increase in the median price compared to May 2009, reaching $390,000. The median price of single-family homes increased by 8 to reach $257,000, while that of condominiums increased by 7 per cent to reach $207,000. 

“The inventory of properties for sale in the Montréal area has been decreasing over the past few months, which has tightened market conditions. This explains why prices are still increasing despite the decrease in sales,” said Michel Beauséjour. As at May 31, 2010, the number of active listings on the MLS® system decreased by 16 per cent in comparison with the same date last year. More Information on centris.ca™ For more information as well as quarterly statistics for the province of Québec, including its municipalities and regions, visit centris.ca™, Québec’s real estate industry website. 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 and agents who work in the Greater Montréal area. With more than 10,500 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 and maintain their predominance in the real estate industry.

 


Île-des-Sœurs, May 6, 2010 – There were 5,513 sales transactions in the Montréal Metropolitan Area in April 2010, a 16 per cent increase compared to April 2009, according to the Greater Montréal Real Estate Board's MLS® statistics. 

“At this time last year, the Montréal real estate market was still feeling the effects of the recession, but was showing signs of recovery. Sales were down by only 6 per cent compared to April 2008,” said Michel Beauséjour, FCA, Chief Executive Officer of the GMREB. “With a 16 per cent increase in sales this April, the Montréal real estate market is now very active, which can be explained by positive economic conditions. Consumer confidence in the economy is strong, job creation is improving in the Montréal region and mortgage rates are still low,” he added. 

All property categories registered an increase in sales in April 2010 compared to April 2009. Plexes led the way with a 28 per cent increase in sales, followed by condominiums and single-family homes with increases of 18 and 12 per cent, respectively. 

Geographically, the five main areas in the Montréal region surpassed the sales levels reached in April 2009. Laval and the Island of Montréal were the most active areas, with respective sales increases of 27 and 21 per cent. Vaudreuil-Soulanges followed closely with an 18 per cent increase, while sales on the North Shore and South Shore increased by 14 and 4 per cent, respectively. 

In terms of prices, the median price of single-family homes in the Montréal area increased from $230,000 in April 2009 to $250,000 in April 2010, a 9 per cent increase. The median price of condominiums increased by 10 per cent to reach $210,000, while that of plexes increased by 9 per cent, to reach $375,000. 

“Montréal’s real estate is still the most affordable compared to other large cities in Canada, despite the increase in property prices. This increase can be explained by a decrease in the supply of properties for sale. On April 30, 2010, the number of active listings was down 20 per cent compared to the same date last year,” said Michel Beauséjour. He added, “On the other hand, the good news for buyers is that there are more new listings on the market, an increase of 4 per cent in April for example, so buyers still have choice.”  



 

 


Île-des-Sœurs, April 9, 2010 – March 2010 real estate sales in the Montréal Metropolitan Area broke the last record by 12 per cent, which was set in March 2007, according to the Greater Montréal Real Estate Board's MLS® statistics. 

Residential sales in the Montréal area increased by 38 per cent compared to March 2009, which was a recession month. Sales increased by 21 per cent compared to March 2008, prior to the start of the recession. 

In March 2010, all property categories surpassed March 2008 sales levels. Plexes led the way with a 34 per cent increase in sales, while single-family home and condominium sales increased by 21 and 17 per cent, respectively. 

“We believe that first-time buyers are very active in the market right now, as evidenced by our most recent survey,” said Michel Beauséjour, FCA, Chief Executive Officer of the GMREB. “The survey results showed that 43 per cent of people considering buying a property over the next 12 months are currently renting, so it’s no surprise that so many renters are active on the market right now. Positive economic conditions and low interest rates have definitely encouraged tenants to become owners. Some consumers may have even decided to buy a little earlier than expected due to some talk surrounding the possible increase in mortgage rates this summer,” he added. 

Geographically, the five main areas in the Montréal region were very active in March 2010, surpassing the number of sales in March 2008. Laval took the lead with a 40 per cent increase in sales compared to March 2008, followed by Vaudreuil-Soulanges with a 25 per cent increase. The North Shore, South Shore and Island of Montréal registered respective increases of 21, 20 and 17 per cent compared to March 2008. 

In terms of prices, there was an increase in all property categories in March 2010 compared to March 2009. The median price of single-family homes in the Montréal area reached $245,000, a 9 per cent increase. There was an increase of 10 per cent in the median price of condominiums and plexes, reaching $202,500 and $375,000, respectively. 

“This increase in prices can be explained by the concept of supply and demand. The market is very active in terms of sales and the supply of properties has decreased by about 20 per cent, which puts upward pressure on prices. But remember, even though prices have increased somewhat, with the median price of single-family homes set at $245,000, Montréal is still one of the most affordable areas in the country. Just compare Montréal prices to Toronto and Calgary, where the median price for single-family homes stood at $370,000 and $423,000, respectively, in March 2010, and compared to Vancouver, where the average property price reached $663,000 in February 2010, the last month for which data is available,” added Michel Beauséjour. 

 

First Quarter of 2010: Condominiums Stand Out 

Overall residential sales in the Montréal Metropolitan Area increased by 46 per cent in the first quarter of 2010 compared to the same period last year, and by 10 per cent compared to the first quarter of 2008. In the first three months of the year, 3,865 condominiums were sold, up 13 per cent compared to the previous record set in the first quarter of 2008. Sales of single-family homes and plexes increased by 8 and 13 per cent, respectively, compared to the first quarter of 2008, which was before the start of the last recession. 

In terms of prices, the median price of single-family homes reached $243,000 in the first quarter of the year, an 8 per cent increase compared to the first quarter of last year. Condominiums also registered an 8 per cent increase to reach a median price of $200,000. The median price of plexes, which stood at $371,000, registered the largest increase, growing by 10 per cent compared to the first three months of 2009. 

“Lots of activity on the resale market as well as an increase in prices show that Montréal is a good place to live and a good place to invest,” concluded Michel Beauséjour. 

 

 


Île-des-Sœurs,March 4, 2010 – February 2010 sales in Montréal Metropolitan Area hit the same level as sales in February 2008, which was just before the last recession. According to the Greater Montréal Real Estate Board’s MLS ® statistics, there were 4,465 sales transactions in the Montréal area in February 2010, a 45 per cent increase compared to February 2009 but only a 1 per cent increase compared to February 2008. 

“It’s important to remember that last year – in February 2009 – the Montréal real estate market was feeling the effects of the recession and posted a 31 per cent decrease in sales. This explains why when we compare February 2010 to February 2009, sales are up by 45 per cent,” said Michel Beauséjour, FCA, Chief Executive Officer of the GMREB. “February 2008 offers a better point of comparison, since the recession had not yet started,” he added. 

In terms of sales, all property categories are back to levels similar to those of 2008. Condominiums led the way with a 5 per cent increase in February 2010 compared to February 2008. Single-family home and plex sales remained relatively stable compared to February 2008, with a decrease of 1 per cent and an increase of 1 per cent, respectively. 

As for prices, the median price of a single-family home in the Montréal area reached $245,000 in February 2010, a 9 per cent increase compared to February 2009. The median price of condominiums increased by 5 per cent to reach $197,000, while that of plexes grew by 15 per cent to reach $378,500. 

“The decrease in the number of homes for sale (-19 per cent) in the Montréal area in February 2010 explains why prices went up, especially in the case of plexes,” said Beauséjour. “But it is important to mention that buyers still have a lot of choice with 22,528 properties for sale in the Montréal Metropolitan Area. Also, 7,694 new listings were entered in the MLS ® system in February 2010, up 6 per cent compared to February 2009.” 

Geographically, the five main areas in the Montréal region met February 2008 sales figures with the exception of the South Shore, which posted a 2 per cent decrease. Sales in Laval increased by 6 per cent in February 2010 compared to February 2008, while the Island of Montréal, the North Shore and the Vaudreuil-Soulanges area registered increases of 1, 2 and 1 per cent, respectively, compared to February 2008. 

 

Île-des-Sœurs, February 10, 2010 – Condominium sales in the Montréal Metropolitan Area increased by 98 per cent in January 2010 compared to January 2009 which was the worst month of the recession. In fact, condominium sales rebounded so well from the economic downturn that they exceeded the January 2007 sales peak by 20 per cent, according to the Greater Montréal Real Estate Board's MLS® statistics.

In terms of overall sales, 2,784 transactions took place in the Montréal area in January 2010, a 70 per cent increase compared to January 2009 and a 7 per cent increase compared to January 2008.

“The market was very active in January 2010 with condominiums leading the way and setting new sales records in Montréal’s five main areas,” said Michel Beauséjour, FCA, Chief Executive Officer of the GMREB. “This activity is mainly due to first-time buyers, as evidenced by our most recent survey results. About 43 per cent of people polled who are considering buying a property over the next 12 months are currently renting,” he added.

Single-family homes and plexes also turned in solid sales performances in January 2010, although they did not set new records. The number of single-family homes sold in the Montréal area increased by 60 per cent compared to January 2009 and by 1 per cent compared to January 2008. Plexes posted a 57 per cent increase in sales compared to January 2009 and a 3 per cent increase compared to January 2008.

In terms of prices, condominiums stood out yet again. The median price of condominiums in the Montréal area increased by 12 per cent in January 2010 compared to January 2009, reaching $201,500. The median price of single-family homes increased from $225,000 in January 2009 to $235,000 in January 2010, an increase of 4 per cent. In terms of plexes, the median price increased by 7 per cent, reaching $365,000.

“Property prices in the Montréal area never decreased during the last recession. This steady increase in price shows that real estate continues to be a good investment,” said Beauséjour.



Geographically, the South Shore stood out with record-breaking sales in January 2010. Sales increased by 74 per cent compared to January 2009, and by 11 per cent compared to January 2008. Sales in January 2010 even surpassed the peak-level January 2007 sales by 2 per cent.

The Island of Montréal also turned in a solid performance in January 2010, posting a 63 per cent increase in sales compared to the same month last year, a 7 per cent increase compared to January 2008, and registering only three fewer sales than in the record-setting month of January 2007. Laval, the area most affected by the recession in January 2009, recorded the strongest growth so far this year (+96 per cent). The 320 sales transactions in this area were a return to the January 2008 sales level and represented only 9 fewer sales than in January 2007 – the best January on record.

Finally, the areas of Vaudreuil-Soulanges and the North Shore registered sales increases of 75 and 66 per cent, respectively, compared to January 2009, but posted decreases of 5 and 2 per cent, respectively, compared to the same period in 2008.

As at January 31, 2010, the number of active listings on the MLS ® system decreased by 19 per cent in comparison with the same date last year.


Recent Survey Shows First-Time Buyers Continue to be Active in 2010

According to a recent buyers’ and sellers’ survey conducted on behalf of the GMREB, 6.7 per cent of households surveyed in the Montréal area are considering buying a home within the next 12 months, a result similar to that of last year.

“These surveys have proven to be quite reliable over the years, which bodes well for the Montréal real estate market in 2010,” said Beauséjour. “This year’s results suggest that first-time buyers will continue to be active on the real estate market in the coming months, as substantiated by the level of condominium sales in January.”

According to the survey results, 43 per cent of households considering buying a property in the next 12 months are currently renters. Most of these first-time buyers are couples with or without children (52 per cent) and are less than 40 years old (63 per cent). Close to 18 per cent of respondents said they were leaning towards buying a condominium.

As for sellers’ intentions, the results were similar to last year’s survey. Nearly 17 per cent of respondents in the Montréal Metropolitan Area said that it was likely or very likely that they would sell their property within the next five years.

This annual survey was conducted by Groupe Multi Réso on behalf of the GMREB. This electronic survey took place from October 2 to 19, 2009, among 2,089 respondents in the Montréal area. The margin of error is 2.1 per cent 19 times out of 20.

Île-des-Sœurs, January 7, 2010 – Sales in the Montréal Metropolitan Area increased by 3 per cent in 2009 compared to 2008, with a total of 41,802 transactions, according to the Greater Montréal Real Estate Board's MLS® statistics.

“Although sales decreased the first four months of 2009, Montréal’s real estate market rebounded and finished the year on a positive note,” said Michel Beauséjour, FCA, Chief Executive Officer of the GMREB. “Because sales increased by 3 per cent in 2009 compared to 2008, it’s obvious that Montréal’s real estate market wasn’t really affected by the recession,” he added.

There was an increase in sales in all property categories in 2009. Single-family homes led the way with a 4 per cent increase in sales, followed closely by condominiums and plexes, which each posted a 3 per cent increase.

In terms of prices, the median price of a single-family home in the Montréal area reached $235,000 in 2009, a 4 per cent increase compared to 2008. The median price of condominiums increased by 5 per cent to reach $194,500, while that of plexes grew by 4 per cent to reach $349,000.

“Not only was the market more active in terms of sales in 2009, but prices continued to slowly and steadily increase in Montréal, meaning that real estate continues to be a good investment,” said Mr. Beauséjour.

Geographically, Vaudreuil-Soulanges saw the biggest increase in sales, at 7 per cent, in 2009 over 2008. The South Shore and the Island of Montréal posted a 4 per cent increase in sales, while Laval posted a 3 per cent increase. The number of transactions on the North Shore remained stable in 2009 compared to 2008.

The average number of active listings on the MLS® system in 2009 was 1 per cent higher than in 2008.



Record-Breaking Month of December

There were 2,819 sales in the Montréal area in December 2009, a 67 per cent increase compared to December 2008. These 2,819 transactions represented a new record for the month of December, outdoing December 2006, during which 2,466 sales took place.

“It’s important to remember that in December 2008, sales in the Montréal area were down 29 per cent compared to December 2007. In that sense, then, the increase in sales in December 2009 should be interpreted cautiously, as it was amplified by the market’s poor performance in December 2008,” explained Mr. Beauséjour.

Property prices increased in the Montréal area in December 2009. All three property categories registered a 4 per cent increase in the median price compared to December 2008. The median price of single-family homes reached $240,000, that of condominiums reached $200,000 and that of plexes reached $353,000.

As at December 31, 2009, the number of active listings on the MLS® system decreased by 19 per cent in comparison with the same date last year.

Île-des-Sœurs, December 8, 2009 – There were 3,411 sales in the Montréal Metropolitan Area in November 2009, a 51 per cent increase compared to November 2008, according to the Greater Montréal Real Estate Board's MLS® statistics. These 3,411 transactions were enough to surpass, by 4 per cent, the record-breaking sales levels of November 2007, when 3,276 transactions were registered.

“It’s important to remember that last year – in November 2008 – the Montréal real estate market was feeling the effects of the recession and posted a 31 per cent decrease in sales compared to November 2007,” said Michel Beauséjour, FCA, Chief Executive Officer of the GMREB. “So the increase in sales in November 2009 was amplified by the market’s poor performance last year. November 2007 offers a better point of comparison, as it was the best November on record,” he added.

All property categories registered an increase in sales in November 2009 compared to November 2008, and all categories managed to exceed the record-breaking sales levels of 2007. Condominiums led the way with a 55 per cent increase in sales compared to November 2008 and a 12 per cent increase compared to November 2007. Plex sales also grew by 55 per cent compared to 2008, while increasing by 2 per cent compared to November 2007. Finally, single-family homes posted a 49 per cent increase in sales compared to November 2008 and a 1 per cent increase compared to 2007.

In terms of prices, the median price of a single-family home reached $244,000 in November 2009, an 8 per cent increase compared to November 2008, while condominiums and plexes both registered a 7 per cent increase in their median price.

“The market is very active. Now is a good time to sell a property, and it’s also a good time to buy a property as mortgage rates are still low and the inventory of homes for sale is quite extensive, with 21,197 properties on the market in the Montréal area,” said Mr. Beauséjour.

In November 2009, three of the five main geographic areas in the Montréal region exceeded the record-breaking sales figures of November 2007. The South Shore, which registered a 71 per cent increase in sales compared to November 2008, registered a 10 per cent increase compared to 2007. The Island of Montréal and the North Shore were the other two areas that surpassed the November 2007 sales levels, as both areas posted an increase of 6 per cent. Compared to November 2008, these two areas registered sales increases of 55 and 42 per cent, respectively. Sales in the areas of Vaudreuil-Soulanges and Laval increased by 60 and 22 per cent, respectively, in November 2009 compared to the same month last year. However, they did not reach the November 2007 sales levels, with respective decreases of 1 and 12 per cent.

As at November 30, 2009, the number of active listings on the MLS® system decreased by 16 per cent in comparison with the same date last year.

 

Île-des-Sœurs, November 10, 2009 – October 2009 sales in Montréal Metropolitan Area hit the same level as sales in October 2007, the year that broke all records. According to the Greater Montréal Real Estate Board’s MLS ® statistics, there were 3,543 sales transactions in the Montréal area in October 2009, a 23 per cent increase compared to October 2008 and a 3 per cent increase compared to October 2007.

“It’s important to remember that the official beginning of the recession was in October 2008, and sales in the Montréal area at that time were down 17 per cent compared to October 2007,” said Michel Beauséjour, FCA, Chief Executive Officer of the GMREB. “We should then approach the October 2009 data cautiously, because obviously the increase in sales this October was amplified by the market’s poor performance last year. It’s better to compare with October 2007 since it was the best October on record,” he added.

In terms of sales, condominiums led the way with a 28 per cent increase in October 2009 compared to October 2008 and a 12 per cent increase compared to October 2007. Single-family home and plex sales remained stable compared to October 2007, but increased by 23 and 16 per cent, respectively, compared to October 2008.

As for prices, all three property categories registered a 6 per cent increase in median price in October 2009 compared to October 2008. In the Montréal area, the median price of a single-family home reached $240,000, while that of a condominium reached $195,000 and that of a plex reached $350,000.

“Property prices have continued to increase despite the drop in sales in October 2008. That situation has not changed today and prices continue to increase, once again reaffirming that real estate remains a good investment in the Montréal area,” added Michel Beauséjour.

Geographically, the five main areas in the Montréal region met – and even exceeded – October 2007 sales figures with the exception of the North Shore, which posted a 13 per cent increase in sales compared to October 2008 but a 13 per cent decrease compared to October 2007. Sales in Laval increased by 35 per cent in October 2009 compared to October 2008 and by 29 per cent compared to 2007. The Island of Montréal, the South Shore and the Vaudreuil-Soulanges area registered increases of 24, 21 and 51 per cent, respectively, compared to October 2008, while they increased by 3, 9 and 4 per cent, respectively, compared to October 2007.

As at October 31, 2009, the number of active listings on the MLS ® system decreased by 10 per cent in comparison with the same date last year.

Île-des-Sœurs, October 7, 2009 – Sales in the Montréal Metropolitan Area increased by 5 per cent in September 2009 compared to September 2008, according to the Greater Montréal Real Estate Board's MLS ® statistics. Property prices also continued to climb, with a 7 per cent increase in median price for single-family homes.

"September 2009 was the best September on record for the Montréal market. We're seeing a balanced market now, so both buyers and sellers are benefiting," said Michel Beauséjour, FCA, Chief Executive Officer of the GMREB.

In terms of sales, single-family homes led the way with an 8 per cent increase in September 2009 compared to the same month last year, while condominium and plex sales increased by 1 and 3 per cent, respectively.

As for prices, the median price of single-family homes and condominiums increased by 7 per cent in September 2009 compared to September 2008. Plexes also stood their ground, with a 5 per cent increase in median price.

"Montréal's real estate prices have continued to increase slowly but steadily, once again confirming that Montreal is not only a desirable place to live, but also a solid investment so far as real estate is concerned," added Mr. Beauséjour.

Geographically, the Vaudreuil-Soulanges area stood out in September 2009 with a 40 per cent increase in sales compared to September 2008. The Island of Montréal and the South Shore also turned in strong performances, as sales in both of these areas increased by 9 per cent. The number of transactions increased by 3 per cent in Laval and decreased by 9 per cent on the North Shore.

As at September 30, 2009, the number of active listings on the MLS ® system decreased by 7 per cent in comparison with the same date last year.

Île-des-Sœurs, September 09, 2009 – With sustained sales and a steady increase in prices, the Montréal real estate market showed no sign of slowing down in August, according to the Greater Montréal Real Estate Board's MLS® statistics. Sales increased by 9 per cent in August 2009 compared to August 2008, and the median price of a single-family home increased by 6 per cent.

"Because residential property sales generate significant economic benefits, the increases we've seen over the past four months have largely contributed to the economy of the Montréal Metropolitan Area," said Michel Beauséjour, FCA, Chief Executive Officer of the GMREB.

All property categories registered an increase in sales. There were 1,674 single-family homes sold in August 2009, a 5 per cent increase compared to the same month last year. Condominium sales increased by 15 per cent and plex sales had the largest increase at 17 per cent.

In terms of prices, single-family homes led the way with a 6 per cent increase in median price in August 2009 compared to the same period last year. The median price of condominiums grew by 3 per cent, while that of plexes increased by 5 per cent.

"Montréal's real estate market is doing well. Interest rates are still low, the job market is improving and consumer confidence is up," said Mr. Beauséjour.

Geographically, the largest increases in sales were registered in Laval, in the Vaudreuil-Soulanges area and on the Island of Montréal, where sales increased by 24 per cent, 16 per cent and 15 per cent, respectively, compared to August 2008. Sales on the North Shore grew by 5 per cent and sales on the South Shore decreased slightly by 2 per cent.

As at August 31, 2009, the number of active listings on the MLS® system decreased by 3 per cent in comparison with the same date last year.

Île-des-Sœurs, August 11, 2009 – MLS® sales in the Montréal Metropolitan Area continued to thrive in July 2009, increasing by 19 per cent compared to July 2008, reported the Greater Montréal Real Estate Board (GMREB). Property prices also continued to climb, with the median price of a single-family home increasing by 7 per cent.

"Even though real estate sales are usually slower during the summer because people are more in holiday mode, this year has been a real exception. July's real estate market was very active, meaning the market is doing a good job of catching up after a slow start this year," said Michel Beauséjour, FCA, Chief Executive Officer of the GMREB.

All property categories registered an increase in sales in July 2009 compared to the same month last year. Condominiums led the way with a 20 per cent increase in sales, while single-family homes and plexes posted increases of 18 and 19 per cent, respectively.

In terms of prices, the median price of single-family homes increased by 7 per cent, growing from $230,000 in July 2008 to $246,000 in July 2009. The median price of condominiums remained stable, while that of plexes increased by 3 per cent.

"This is excellent news for buyers and sellers. The market is active, prices are good, the recession is behind us, interest rates are still low, the job market is improving and consumer confidence is increasing," said Mr. Beauséjour.

Sales increases were registered in all geographic areas of the Montréal Metropolitan Area. Laval posted the greatest increase at 24 per cent. Montréal Island (+19 per cent) and the North Shore (+19 per cent) registered similar increases, followed by the South Shore (+16 per cent) and Vaudreuil-Soulanges (+16 per cent).

As at July 31, 2009, the number of active listings on the MLS® system decreased by 1 per cent in comparison with the same date last year.

Île-des-Sœurs, June 16, 2009 MLS® sales in the Montréal Metropolitan Area increased by 8 per cent in May 2009 compared to May 2008, with single-family homes leading the way at 13 per cent, reported the Greater Montréal Real Estate Board. Property prices also continued their upward trend, as the median price of a single-family home grew by 3 per cent.

"Consumer confidence, which is at its highest level since July 2008, largely explains this increase in sales," said Michel Beauséjour, FCA, Chief Executive Officer of the GMREB. "In May, 55 per cent of Québecers said that now is a good time to make a major purchase, such as a property, compared to 38 per cent in April. There are three factors that affect the real estate market – consumer confidence, interest rates, which are at historically low levels, and job creation," he added.

All property categories registered an increase in sales in May 2009 compared to May 2008. Single-family homes delivered the strongest performance with 2,959 transactions, an increase of 13 per ent. Plex sales grew by 3 per cent and condominium sales by 2 per cent.



In terms of prices, the median price of single-family homes and condominiums increased by 3 per cent in May 2009 compared to the same month last year, while that of plexes grew by 2 per cent.

"This is good news; not only is the market more active, but prices are also continuing to increase," said Mr. Beauséjour. "This confirms that Montréal real estate remains a solid investment and has certainly contributed to the increase in consumer confidence."

All geographic areas experienced an increase in sales in May 2009 compared to the same month last year. The South Shore had the largest increase, at 13 per cent. Sales on the North Shore increased by 8 per cent, while the Island of Montréal, Vaudreuil-Soulanges and Laval registered increases of 7, 5 and 4 per cent, respectively.

As at May 31, 2009, the number of active listings on the MLS® system increased by 6 per cent in comparison with the same date last year.

Île-des-Sœurs, July 7, 2009 MLS® sales in the Montréal Metropolitan Area increased by 14 per cent in June 2009 compared to June 2008, the second consecutive monthly increase, reported the Greater Montréal Real Estate Board. Property prices also continued to climb, with the median price of a single-family home increasing by 4 per cent.

"Despite the current economic situation, the Montréal real estate market is thriving," said Michel Beauséjour, FCA, Chief Executive Officer of the GMREB. "Sales are up for the second consecutive month and prices continue to climb. The stability we're seeing in the Montréal resale market is good news for consumers and for the Québec economy," he added.

All property categories registered an increase in sales in June 2009 compared to the same month last year. With 2,524 transactions, single-family homes registered the largest increase at 16 per cent. Single-family home sales were especially strong on the Island of Montréal (+24 per cent). Condominium sales grew by 10 per cent and plex sales by 12 per cent.

In terms of prices, the median price of single-family homes grew by 4 per cent in June 2009 compared to June 2008, to reach $240,000. The increase was higher on the Island of Montréal (+9 per cent), where the median price is now $320,000. The median price of condominiums remained stable, whiles that of plexes grew by 5 per cent.

"This steady increase in prices confirms to buyers and sellers that Montréal real estate remains a solid investment," said Mr. Beauséjour.

All geographic areas registered an increase in sales in June 2009 compared to the same month last year. Vaudreuil-Soulanges and the South Shore led the way with increases of 19 per cent and 17 per cent, respectively. Sales on the Island of Montréal grew by 14 per cent while the North Shore and Laval posted an 11 per cent increase.

As at June 30, 2009, the number of active listings on the MLS® system increased by 2 per cent in comparison with the same date last year.

 


Sales and Prices Increase in the Second Quarter of 2009

Sales in the Montréal Metropolitan Area were up 4 per cent in the second quarter of 2009 compared to the second quarter of 2008. Property prices also rose, with the median price of a single-family home increasing by 2 per cent.

Single-family homes registered the largest increase in sales in the second quarter of 2009, growing by 7 per cent compared to the same period last year. Condominium sales increased by 1 per cent and plex sales remained stable.

In terms of prices, the median price of a single-family home reached $235,000 in the second quarter of the year, a 2 per cent increase compared to the same period in 2008, while the median price of condominiums and plexes increased by 3 per cent.

Île-des-Sœurs, June 16, 2009 MLS® sales in the Montréal Metropolitan Area increased by 8 per cent in May 2009 compared to May 2008, with single-family homes leading the way at 13 per cent, reported the Greater Montréal Real Estate Board. Property prices also continued their upward trend, as the median price of a single-family home grew by 3 per cent.

"Consumer confidence, which is at its highest level since July 2008, largely explains this increase in sales," said Michel Beauséjour, FCA, Chief Executive Officer of the GMREB. "In May, 55 per cent of Québecers said that now is a good time to make a major purchase, such as a property, compared to 38 per cent in April. There are three factors that affect the real estate market – consumer confidence, interest rates, which are at historically low levels, and job creation," he added.

All property categories registered an increase in sales in May 2009 compared to May 2008. Single-family homes delivered the strongest performance with 2,959 transactions, an increase of 13 per ent. Plex sales grew by 3 per cent and condominium sales by 2 per cent.



In terms of prices, the median price of single-family homes and condominiums increased by 3 per cent in May 2009 compared to the same month last year, while that of plexes grew by 2 per cent.

"This is good news; not only is the market more active, but prices are also continuing to increase," said Mr. Beauséjour. "This confirms that Montréal real estate remains a solid investment and has certainly contributed to the increase in consumer confidence."

All geographic areas experienced an increase in sales in May 2009 compared to the same month last year. The South Shore had the largest increase, at 13 per cent. Sales on the North Shore increased by 8 per cent, while the Island of Montréal, Vaudreuil-Soulanges and Laval registered increases of 7, 5 and 4 per cent, respectively.

As at May 31, 2009, the number of active listings on the MLS® system increased by 6 per cent in comparison with the same date last year.

Île-des-Sœurs, May 5, 2009 – MLS® sales in the Montréal Metropolitan Area are picking up, with only a 6 per cent decrease in the number of transactions in April 2009 compared to April 2008, the month that broke all records, reported the Greater Montréal Real Estate Board. The median price of condominiums increased by 5 per cent, while single family-homes remained stable.

"It is a good time to buy a property today," said Michel Beauséjour, FCA, Chief Executive Officer of the GMREB. "Mortgage rates are at their lowest level in more than half a century and the inventory of properties is growing, giving buyers more choice. Buyers are taking a bit more time to buy, as shown by the average sale time. While single-family homes stayed on the market for an average of 67 days in April 2008, in April 2009, the average was 80 days," he added.

In terms of prices, condominiums led the way with a 5 per cent increase in the median price in April 2009 compared to the same month last year, to reach $191,800. The median price of plexes increased by 1 per cent, while that of single-family homes remained stable at $230,500.




"It is also a good time to sell today," said Mr. Beauséjour. "The market is becoming increasingly active and property prices are stable or increasing, depending on the property type. The price increase for condominiums can be explained by the increase in median price on the Island of Montréal (+7 per cent), which is responsible for 60 per cent of the region's condominium sales," he added.

Sales of single-family homes decreased slightly by 3 per cent in April 2009 compared to April 2008, while condominium and plex sales decreased by 7 and 11 per cent, respectively.

Geographically, the South Shore had the smallest decrease in sales, with a drop of only 1 per cent. Sales on the North Shore decreased by 3 per cent, while the regions of Laval, Vaudreuil-Soulanges and the Island of Montréal registered decreases of 7, 9 and 10 per cent, respectively.

As at April 30, 2009, the number of active listings on the MLS® system increased by 11 per cent in comparison with the same date last year.

Île-des-Sœurs, April 2, 2009 – The drop in MLS® sales evidenced over the last few months in the Montréal Metropolitan Area relented in March, registering a 12 per cent decrease compared to the same month last year. Property prices continued to increase slightly, with the median price of a single-family home reaching $227,000, reported the Greater Montréal Real Estate Board.

"Spring is the busiest time of the year for the resale market, and 2009 should be no exception," said Michel Beauséjour, FCA, Chief Executive Officer of the GMREB. "Interest rates are at their lowest ever, and consumer confidence is up. In March, 39 per cent of consumers said that now is a good time to make a major purchase, such as a property, compared to 28 per cent last month," he added.

In terms of prices, the median price of a single-family home increased by 1 per cent in March 2009 compared to March 2008, to reach $227,000. The median price of condominiums grew by 2 per cent, while that of plexes increased by 3 per cent.




"This is good news for the Montréal real estate market," added Mr. Beauséjour. "Not only has consumer confidence increased and the market become more active, but property prices are stable and are even increasing slightly."

Sales of single-family homes decreased by 11 per cent in March 2009 compared to the same month last year. Condominium sales decreased by 15 per cent and plex sales dropped by 6 per cent.

Geographically, sales on the Island of Montréal decreased by 11 per cent in March 2009 compared to the same month last year. Sales were down 14 per cent on the South Shore, 4 per cent in Laval, 11 per cent on the North Shore and 27 per cent in Vaudreuil-Soulanges.

On March 31, 2009, the number of active listings on the MLS® system increased by 14 per cent in comparison with the same date last year.

Île-des-Sœurs, March 4, 2009 – MLS® sales in the Montréal Metropolitan Area decreased by 30 per cent in February 2009 compared to the same month last year while, at the same time, the median price of single-family homes increased by 2 per cent, reported the Greater Montréal Real Estate Board.

"Sales are still slow in comparison to last year at the same time, but the positive sign is that prices are still up over last year, with condos leading the way with a 6 per cent increase in pricing," said Michel Beauséjour, FCA, Chief Executive Officer of the GMREB.

"For the second consecutive month, there has been a decrease in the number of new listings," added Beauséjour. "This is an interesting situation because it shows that, despite the economic situation and the lack of consumer confidence in the economy, there is no increase in the number of property owners wanting to sell. Montréal is actually in a decent position when compared with other major Canadian cities such as Toronto, Vancouver and Calgary, which are not only seeing a large drop in sales, but are also seeing a drop in prices."




In February 2009, the median price of a single-family home grew by 2 per cent compared to the same month last year, to reach $225,000. The median price of condominiums grew by 6 per cent, while that of plexes fell slightly by 1 per cent.

In terms of sales, there was a 30 per cent decrease in sales of single-family homes in February 2009 compared to February 2008. Sales of condos decreased by 32 per cent and sales of plexes fell by 27 per cent.

Geographically, sales in Laval decreased by 20 per cent in February 2009 compared to the same month last year. Sales were down 25 per cent in Vaudreuil-Soulanges, 30 per cent on the North Shore, 31 per cent on the South Shore and 32 per cent on the Island of Montréal.

On February 28, 2009, the number of active listings on the MLS® system increased by 13 per cent in comparison with the same date last year.

Île-des-Sœurs, February 11, 2009 – MLS® real estate sales in the Montréal Metropolitan Area declined by 37 per cent in January 2009 compared to the same month last year while, at the same time, median prices of single-family homes increased by 3 per cent, reported the Greater Montréal Real Estate Board.

"It's obvious that the sales decline is mostly due to a drop in consumer confidence," said Michel Beauséjour, FCA, Chief Executive Officer of the GMREB. "It's not surprising to see this decline, even though the real estate market has been quite solid for the last 30 years or so, which is as far back as our statistics go.

"For example, you just have to look at prices in Montréal, which continue to increase slowly but surely at the current time. This is contrary to what's happening in other major cities like Toronto, Vancouver and Calgary, where sales as well as prices have dropped," he added.




All property categories recorded price increases. The median price of a single-family home grew by 3 per cent compared to January 2008, to reach $225,000. The median price of condominiums grew by 4 per cent, while that of plexes increased by 3 per cent.

In terms of sales, there were 1,662 transactions in the Montréal Metropolitan Area in January 2009, a 37 per cent drop compared to the same month last year. Sales of single-family homes fell by 36 per cent, while sales of plexes and condominiums fell by 37 per cent.

Geographically, sales on the Island of Montréal dropped by 29 per cent in January 2009 compared to January 2008. Sales were down 36 per cent on the South Shore, 41 per cent on the North Shore, 43 per cent in Vaudreuil-Soulanges, and 48 per cent in Laval.

On January 31, 2009, the number of active listings on the MLS® system increased by 12 per cent in comparison with the same date last year.

 



Île-des-Soeurs, January 13, 2009 The Greater Montréal Real Estate Board (GMREB) reported that the median price of single-family homes in the Montréal Metropolitan Area increased by 6 per cent in 2008 compared to 2007 while, overall, residential sales slowed by 7 per cent.

“The Montréal real estate market fared well in 2008 with almost 41,000 sales transactions, 7 per cent less than the previous year, which was the year that broke all records," said Michel Beauséjour, FCA, Chief Executive Officer of the GMREB. "In addition, prices continued to increase in 2008, which bodes well for homeowners and anyone who has a vested interest in Montréal real estate. You just have to look at what's happening elsewhere like Calgary, Vancouver or Toronto, which have seen prices and sales drop dramatically over the last year, to appreciate the strength of the Montréal market," he said.

All real estate property types registered price increases in 2008. The median price of a single-family home grew by 6 per cent compared to 2007, to reach $227,000. The median price of plexes also grew by 6 per cent, while that of condominiums increased by 3 per cent.



In terms of sales, condominiums were the big winners in 2008 with sales virtually matching those in the record-breaking year of 2007. Sales of single-family homes dropped by 10 per cent and sales of plexes fell by 9 per cent compared to 2007.

The number of transactions on the South Shore and in Laval was down 5 per cent and 6 per cent, respectively, compared to last year.

Sales on the Island of Montréal were down 8 per cent, and sales were down 9 per cent on the North Shore and in Vaudreuil-Soulanges.

The average number of active listings on the MLS® system in 2008 was 7 per cent higher than last year, giving a bit more choice to potential buyers.

Prices Up, Sales Down in December 2008

Sales in the Montréal Metropolitan Area were down 29 per cent in December 2008 compared to December 2007.

Single-family and plex prices continued to grow, increasing by 3 per cent in December 2008 compared to the same period last year, while that of condominiums dropped by 2 per cent.

"Consumer confidence, a key factor in the vibrancy of the real estate market, has obviously been affected recently as a result of the constant bombarding of unsettling news about the world economy. However, Montréalers should be heartened by the overall results for 2008, which was the second most significant year overall for the Montréal real estate market in terms of sales," said Beauséjour. "As well, it's interesting to note the results of our annual buyers' and sellers' survey which show that roughly the same number of people intend on buying this year as last year," he said.



On December 31, 2008, the number of active listings on the MLS® system was up 17 per cent compared to the same date last year.

Buyers' and Sellers' Intentions Remain Good

According to the latest GMREB Buyers' and Sellers' Survey, 5 per cent of households in the Montréal Metropolitan Area intend on purchasing a home in 2009, a similar result to that of 2008. In addition, 17 per cent of respondents said they were likely or very likely to buy a home within the next five years, down 3 points compared to the results obtained last year.



"The surveys we have conducted have been quite accurate and this is good news for Montréal real estate. For example, in 2006, the buyers' intention was 9 per cent and this led to the record-breaking year of 2007," said Beauséjour.

Sellers' intentions were also similar to those of last year. The proportion of respondents in the Montréal Metropolitan Area who indicated they were likely or very likely to sell a property within the next five years remained at 15 per cent.

The survey also showed significant differences in the profile of future buyers. Four out of 10 buyers will be couples with one or more children, a significant increase compared to 2007 (40 per cent versus 28 per cent). There was also an increase in the proportion of future buyers in the 40-to-49-year-old age group (28 per cent versus 20 per cent). Also of interest was the significant increase in the amount of respondents who plan on buying a smaller property (29 per cent versus 21 per cent).

The GMREB commissioned Groupe Multi-Réso to conduct an annual telephone survey of more than 1,500 buyers and sellers in the Montréal Metropolitan Area, which was undertaken from October 21 to November 9, 2008.

Île-des-Sœurs, December 9, 2008 – Last month’s MLS® residential sales in the Montréal Metropolitan Area decreased by 31 per cent compared to November 2007, a 6 per cent decrease in year-to-date sales compared to the same period last year, according to the Greater Montréal Real Estate Board (GMREB). While sales have decreased, single-family home median prices are up by 6 per cent year-to-date.

“Montréal’s real estate market has done quite well this year especially when you consider that prices are up and we’re comparing today’s sales with 2007, the year that broke all sales records," said Michel Beauséjour, FCA, GMREB's Chief Executive Officer. "All being said and done, Montreal’s market continues to be a good investment, padrticularly when comparisons are made with other major Canadian cities such as Toronto, Calgary and Vancouver where sales of single-family homes have dropped by as much as 37 per cent year-to-date, whereas we’re only at a decrease of 9 per cent,” he said.

“Obviously Montreal is not immune from the economic uncertainties facing consumers today. There are three variables that affect the real estate market – interest rates, job creation and consumer confidence. Consumer confidence has dropped for the last two months and employment in Montréal is on the decline as well,” he added.




In terms of prices, the median price of single-family homes grew by 6 per cent during the first 11 months of the year compared to the same period last year, increasing from $215,000 to $227,000. The median price of plexes also grew by 6 per cent, while that of condominiums grew by 3 per cent.

As for year-to-date sales in the Montréal Metropolitan Area, only condominium sales have increased, growing by 2 per cent compared to the same period in 2007. Sales of single-family homes decreased by 9 per cent and sales of plexes fell by 8 per cent.

Since the beginning of the year, all major geographic areas have experienced sales slow-downs compared to the same period last year. The South Shore and Laval had the smallest declines, with sales decreasing by only 4 per cent during the first 11 months of the year. Eight per cent declines were recorded on the North Shore and in Vaudreuil-Soulanges, while sales on the Island of Montréal decreased by 6 per cent.

Decrease in November Sales

In November 2008, sales in the Montréal Metropolitan Area dropped by 31 per cent compared to November 2007, while property prices continued to grow.

The median price of condominiums experienced the strongest growth in November 2008, increasing by 5 per cent compared to November 2007. The median price of single-family homes grew by 3 per cent and that of plexes grew by 4 per cent.

All activity sectors recorded sales decreases last month. Sales of single-family homes decreased by 32 per cent compared to November 2007, while sales of condominiums and plexes decreased by 28 per cent and 33 per cent, respectively.






Property prices in the Montréal Metropolitan Area continued to climb during the first 10 months of the year. Median prices of single-family homes and plexes grew by 6% compared to the same period last year, while that of condominiums grew by 3%.

On November 30, 2008, the number of active listings on the MLS® system was up 13 per cent compared to the same date last year.

Île-des-Sœurs, November 12, 2008 – Year-to-date sales in the Montréal Metropolitan Area total 36,955 transactions, and are down slightly by 4 per cent compared to the same period last year, according to the Greater Montréal Real Estate Board's MLS® system.

"With real estate sales still going strong in Montréal, it proves that it's still a good investment. This argument is even more compelling when you look at the other major cities like Calgary, Vancouver and Toronto, which have seen dramatic decreases in sales since the start of this year," said Michel Beauséjour, FCA, Greater Montréal Real Estate Board Chief Executive Officer. "Also, bear in mind that we're comparing sales so far this year with 2007, which broke all records," he said.

In Calgary, the number of sales recorded in the first 10 months of 2008 dropped by 27% compared to the same period in 2007, while Vancouver and Toronto recorded drops of 22% and 16%, respectively.

Property prices in the Montréal Metropolitan Area continued to climb during the first 10 months of the year. Median prices of single-family homes and plexes grew by 6% compared to the same period last year, while that of condominiums grew by 3%.




Since the beginning of the year, condominium sales have increased by 5% in the Montréal Metropolitan Area compared to the first 10 months of 2007. However, sales of single-family homes have decreased by 7%, while plex sales have decreased by 5%.

The South Shore and Laval recorded slight slowdowns since the beginning of the year, with sales decreasing by 1 per cent and 2 per cent, respectively, compared to the same period last year. Similar decreases of close to 5 per cent were observed on the Island of Montréal and in the Vaudreuil-Soulanges area, while the North Shore recorded a decrease of 7 per cent.

Sales Decrease in October 2008

Some 2,926 transactions were recorded in the Montréal Metropolitan Area in October 2008, a decrease of 16 per cent compared to October 2007. However, sales levels are similar to those of October 2006, when 3,002 sales were recorded.

"When you look at the decrease in October sales, it's also very important to note that September's sales were up by 13 per cent compared to the same month last year," said Beauséjour. "Therefore, it's not unusual to see an adjustment in October sales. What's even more relevant is that there has only been a slight decrease for the first 10 months of this year meaning that the Montréal real estate market continues to do well."

The median price of a single-family home grew last month by 4 per cent, increasing from $220,000 in October 2007 to $228,000 in October 2008. The plex market retained a stable median price at $329,250, while that of condominiums fell slightly by 1 per cent. This decrease can be explained by the minor decline in median prices of condominiums on the Island of Montréal, the largest condominium market.

October's resale market continues to favour sellers, despite a 9 per cent increase in the number of active listings in the MLS® system.

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 and agents who work in the Greater Montréal area. With more than 9,500 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 and maintain their predominance in the real estate industry.

Île-des-Sœurs, October 7, 2008 – The increase in sales in the Montréal Metropolitan Area is the highest it's been in the past 11 months, growing by 13 per cent in September 2008 compared to September 2007, according to the Greater Montréal Real Estate Board's MLS® statistics. With 3,060 sales this past month, year-to-date overall sales are down by only 2 per cent.

"We're fortunate in Canada not to be facing the same type of real estate situation as our neighbours to the south," said Michel Beauséjour, FCA, GMREB's Chief Executive Officer. "In Canada, our real estate economic situation is much healthier due to the more stringent regulations governing the purchase of real estate, including that of careful credit analysis of potential buyers."

Sales of condominiums in the Montréal Metropolitan Area, which were already performing well, increased by 25 per cent in September 2008 compared to September 2007, reflecting sustained activity in suburban areas (+41 per cent on the North Shore and +27 per cent on the South Shore). Sales of plexes also increased substantially, growing by 16 per cent. And, finally, sales of single-family homes rose by 7 per cent in September, the first increase since the start of the year.

All major geographic regions recorded significant growth last month, with the exception of Vaudreuil-Soulanges (-2 per cent). The North Shore and the Island of Montréal performed exceptionally well with sales increasing by 16 per cent and 14 per cent, respectively. Laval and the South Shore, also showing strong growth levels, recorded an 11 per cent and 12 per cent increase in their number of transactions.




. Property prices also continued to rise in September 2008. In the Montréal Metropolitan Area, the median price of a single-family home was $230,000, a 5 per cent increase compared to September 2007. The median price of condominiums grew by 4 per cent and that of plexes grew by 6 per cent.

On September 30, 2008, the number of active listings increased by 10 per cent in comparison with the same date last year.


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 and agents who work in the Greater Montréal area. With more than 9,500 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 and maintain their predominance in the real estate industry.