November 2011: MLS® Sales Increase Again

Île-des-Sœurs, december 7, 2011 – MLS® sales in the Montréal Metropolitan Area increased by 3 per cent in November 2011 compared to November 2010, according to the Greater Montréal Real Estate Board (GMREB). This was the sixth consecutive increase in existing-home sales.

“November was an excellent month for the Montréal area real estate market,” said Diane Ménard, Vice-President of the GMREB Board of Directors. “The market has been particularly active since the early summer, which benefits both buyers and sellers,” she added.

Sales increased in all five of the main geographic areas in November 2011, except for the South Shore. Vaudreuil-Soulanges led the way with a 26 per cent increase in the number of transactions. Sales on the North Shore increased by 3 per cent, while sales in Laval and on the Island of Montréal grew by 2 per cent. Sales on the South Shore remained stable compared to November 2010.

Condominiums stood out once again in November 2011, as sales of this property category increased by 6 per cent compared to the same month last year. Condominium sales on the Island of Montréal (+7 per cent) and on the North Shore (+5 per cent) were primarily responsible for this increase. Meanwhile, sales of single-family homes increased by 1 per cent and plex sales grew by 3 per cent.

In terms of prices, all three property categories posted a 4 per cent increase in median price in November 2011 compared to November 2010. The median price of single-family homes reached $270,000, that of condominiums reached $226,750 while that of plexes hit $400,000.

In the entire Montréal Metropolitan Area, the number of active listings increased by 15 per cent in November 2011 compared to November 2010. In total, close to 26,000 residential properties were available to buyers. The South Shore posted the largest increase in the number of active listings (+21 per cent), but all other areas also posted an increase. In terms of property categories, condominiums posted the largest increase in the number of active listings in November 2011 at 20 per cent, followed by plexes at 17 per cent and single-family homes at 10 per cent.

October: Best Month Since the Start of the Year for Existing-Home Sales

Île-des-Sœurs, november 08, 2011 –MLS® sales in the Montréal Metropolitan Area increased by 7 per cent in October 2011 compared to October 2010, according to the Greater Montréal Real Estate Board (GMREB). This was the largest increase in existing-home sales since the start of the year.

“It’s a good time to buy a property,” said Diane Ménard, Vice-President of the GMREB Board of Directors. “Mortgage rates are still low and the inventory of properties available on the market is increasing, which gives buyers more choice. Consumers are also taking a bit more time to buy, as shown by market conditions which are now balanced in many areas,” she added.

All five of the main geographic areas registered an increase in sales, except for the South Shore. Laval led the way with a 12 per cent increase, followed closely by the Island of Montréal and the North Shore, which posted respective increases of 10 and 9 per cent. Sales in Vaudreuil-Soulanges grew by 4 per cent while sales on the South Shore fell again, decreasing by 2 per cent compared to October 2010.

For a sixth consecutive month, there was a marked increase in condominium sales, which grew by 13 per cent in October 2011 compared to October 2010. Sales of single-family homes increased by 5 per cent, while plex sales grew by 6 per cent.

As for prices, plexes took the lead with an 8 per cent increase in median price compared to October 2010, reaching $410,000. The median price of condominiums increased by 5 per cent to reach $228,900, while that of single-family homes increased by 3 per cent to reach $268,000. For single-family homes, this was the smallest increase since September 2010.

The number of active listings in the entire Montréal Metropolitan Area increased by 15 per cent in October 2011 compared to October 2010. This was the 14th consecutive monthly increase, but was smaller than those registered in past months. The number of properties for sale increased by 13 per cent on the Island of Montréal, by 14 per cent on the North Shore, by 24 per cent on the South Shore and by 20 per cent in Vaudreuil-Soulanges.

In terms of property categories, plexes posted the largest increase in the number of active listings at 19 per cent. Condominiums followed closely with an 18 per cent increase, while the number of single-family homes listed on the MLS® system increased by 13 per cent compared to October 2010.

Île-des-Sœurs, october 12, 2011 – MLS® sales in the Montréal Metropolitan Area increased by 1 per cent in September 2011 compared to September 2010, according to the Greater Montréal Real Estate Board (GMREB). This fourth consecutive increase in sales was particularly strong on the Island of Montréal.

“Sales were most dynamic on the Island of Montréal and in Laval compared to September 2010,” said Diane Ménard, Vice-President of the GMREB Board of Directors. “In fact, the number of transactions increased by 8 per cent on the Island of Montréal and by 5 per cent in Laval. For the Island of Montréal, this was the second busiest month of September in over 10 years,” she added.

Sales decreased on the North Shore (-2 per cent), on the South Shore (-8 per cent) and in Vaudreuil-Soulanges (-6 per cent) compared to September 2010.

Once again, the increase in sales in the Montréal Metropolitan Area can be attributed to the performance of condominiums. Sales of condominiums were particularly vibrant in Laval (+40 per cent) and on the Island of Montréal (+10 per cent). The North Shore also contributed to this increase but on a more modest scale, at 1 per cent. Conversely, the South Shore posted an 11 per cent decrease in condominium sales in September 2011. As for single-family homes, sales in the Montréal Metropolitan Area decreased by 1 per cent compared to September 2010, while plex sales fell by 6 per cent.

In terms of prices, the median price of single-family homes in the Montréal area reached $266,750 in September 2011, a 6 per cent increase compared to September of last year. The median price of plexes also posted a 6 per cent increase to reach $400,000, while that of condominiums increased by 2 per cent, reaching $220,000, the most modest increase since July 2009.

The number of active listings for the entire Montréal Metropolitan Area increased by 15 per cent in September 2011 compared to the same month last year. Although this was the thirteenth consecutive increase, it was smaller than those observed in the past five months, which ranged between 17 and 19 per cent. The largest increases were registered on the South Shore (+24 per cent) and in Vaudreuil-Soulanges (+16 per cent). By property category, there were 13,621 single-family homes for sale on the market (+13 per cent), 8,140 condominiums (+18 per cent) and 2,521 plexes (+20 per cent).

Condominiums Were Big Winners Again in August 2011

Île-des-Sœurs, August 10, 2011 –MLS®sales in the Montréal Metropolitan Area increased by 5 per cent in August 2011 compared to August 2010, according to the Greater Montréal Real Estate Board (GMREB). This third consecutive increase in sales in the Montréal area was primarily due to the vitality of condominium sales, which increased by 9 per cent in August.

“Condominium sales increased in all areas of Greater Montréal,” said Diane Ménard, Vice-President of the GMREB Board of Directors. “The undeniable popularity of condominiums continues to grow, as evidenced by the results of the past four months,” she added.

Condominium sales increased in all geographic areas, but Laval took the lead with a 33 per cent increase compared to August of 2010. Single-family homes also performed well in Greater Montréal, as sales grew by 4 per cent, while plex sales decreased slightly by 1 per cent compared to August of last year.

In terms of prices, the median price of condominiums reached $228,761 in the Montréal Metropolitan Area, a 6 per cent increase compared to last August. The median price of single-family homes also grew by 6 per cent to reach $270,000, while that of plexes increased by 3 per cent to reach $405,000.

The number of active listings in the Montréal Metropolitan Area increased by 17 per cent compared to August 2010. This increase is slightly smaller than those registered in July, June and May 2011. For a fifth consecutive month, the South Shore stood out for posting the largest increase in number of active listings, but increases were posted in all other geographic areas. In terms of property categories, plex (+ 22 per cent) and condominium (+ 23 per cent) listings had the largest jumps in August.

Condominium Sales Took the Lead in July 2011

Île-des-Sœurs, August 10, 201 – MLS ® sales in the Montréal Metropolitan Area increased by 6 per cent in July 2011 compared to July 2010, according to the Greater Montréal Real Estate Board (GMREB). This second consecutive increase in sales in the Montréal area was mainly due to the vitality of condominium sales, which increased by 19 per cent in July.

“Condominiums continued to be extremely popular in the Greater Montréal area,” said Diane Ménard, Vice-President of the GMREB Board of Directors. “Condominium sales in the Montréal area represented 77 per cent of all condominium transactions across the province in July, showing that it is primarily an urban phenomenon. Condominium sales in the Montréal area clearly surpassed sales of other property categories, as single-family home sales remained stable and plex sales increased by 6 per cent in July,” she added.

Condominium sales increased significantly in all areas of Greater Montréal in July 2011. The Island of Montréal, where condominiums represent close to 50 per cent of the market, posted the largest increase, at 23 per cent, compared to last year. The North Shore followed closely with a 22 per cent increase in condominium sales. Finally, the number of condominiums sold in Laval and on the South Shore increased by 15 and 11 per cent, respectively.

As for prices, increases were registered for all three property categories. The median price of single-family homes reached $275,000 in the Montréal area, a 7 per cent increase compared to last July. The median price of condominiums increased by 5 per cent in July 2011 to reach $232,000, while that of plexes grew by 6 per cent to reach $407,000.

As at July 31, 2011, 22,826 listings were active on the MLS ® system, an 18 per cent increase in comparison with the same date last year.

MLS® Sales Increase for First Time in 14 Months

Île-des-Sœurs, July 13, 2011 – There were 3,501 MLS® sales transactions in the Montréal Metropolitan Area in June 2011, a 5 per cent increase compared to June 2010, according to the Greater Montréal Real Estate Board (GMREB). This was the first increase in sales in the region in 14 months.

“The increase in sales in June is encouraging news but it must be interpreted with caution as we are comparing June 2011 results with those of June 2010, when sales had decreased by 20 per cent,” said Diane Ménard, Vice-President of the GMREB Board of Directors. “With this increase, sales in the Montréal area are approaching the levels that were seen in June 2007 and 2008, two prosperous years for the real estate market,” she added.

All property categories recorded an increase in sales in June 2011 in the Montréal area. Once again, condominiums led the way with a 12 per cent increase compared to June 2010, while sales of single-family homes grew by 1 per cent and that of plexes by 3 per cent.

Geographically, the Island of Montréal stood out with a 12 per cent increase in sales compared to June of last year. Condominiums led the way, as sales of this property category grew by 17 per cent. Sales were also up in Vaudreuil-Soulanges and on the North Shore, with respective increases of 5 and 3 per cent compared to June 2010. Sales on the South Shore and in Laval fell by 2 and 5 per cent, respectively.

As for prices, half of all single-family homes sold in the Montréal area in June 2011 sold at a price higher than $275,000, a 6 per cent increase compared to the same period last year. The median price of plexes also increased by 6 per cent to reach $409,000, while that of condominiums grew by 5 per cent to reach $223,750.

As at June 30, 2011, the number of active listings on the MLS ® system increased by 19 per cent in comparison with the same date last year.

   

Île-des-Sœurs, June 08, 2011 - There were 4,186 MLS® sales transactions in the Montréal Metropolitan Area in May 2011, a 4 per cent decrease compared to May 2010, according to the Greater Montréal Real Estate Board (GMREB). Despite this slight decrease in real estate activity, condominium sales actually increased by 4 per cent in May.

“The growing popularity of condominiums that we’ve seen in recent years is an urban phenomenon, and Montréal is no exception to this new market reality,” said Diane Ménard, Vice-President of the GMREB Board of Directors. “Its popularity can be explained in part by the fact that many first-time buyers choose this property category due to its affordability. And because spring is a very active time for first-time buyers, it is not surprising that condominiums perform well at this time of year,” she added.

Sales of single-family homes and plexes in the Montréal area decreased in May 2011, posting respective drops of 8 and 9 per cent compared to May of last year.

Geographically, condominiums stood out once again. While sales decreased by 5 per cent on the Island of Montréal, condominium sales increased by 6 per cent. The central areas of the Island were particularly active: condominium sales increased by 29 per cent in Rosemont/Villeray, by 21 per cent in Le Plateau and by 16 per cent in the South-West of the Island. In Laval, residential sales decreased by 14 per cent, but condominium sales remained stable. On the South Shore and North Shore, condominium sales increased by 1 and 6 per cent, respectively, while residential sales fell by 2 and 1 per cent, respectively.

The Vaudreuil-Soulanges area stood out from the other areas for two reasons. First, the condominium market in this area is quite small and the number of sales was insufficient to produce reliable statistics. Second, it is the only region in the Montréal area that posted an increase in sales in May 2011 compared to May 2010, at 1 per cent.

In terms of prices, the median price of condominiums reached $220,739 in the Montréal area, a 7 per cent increase compared to May of last year. The median price of single-family homes increased by 4 per cent to reach $266,500, while that of plexes remained stable at $390,000.

“The popularity of condominiums was reflected in the price increases, as this property category posted the largest increase in May. As for single-family homes and plexes, the increases were more moderate, as we anticipated,” said Diane Ménard.

As at May 31, 2011, the number of active listings on the MLS® system increased by 19 per cent in comparison with the same date last year.

   

   

Île-des-Sœurs, May 10, 2011 - There were 4,509 MLS® sales transactions in the Montréal Metropolitan Area in April 2011, an 18 per cent decrease compared to April 2010 and the twelfth consecutive monthly decrease, according to the Greater Montréal Real Estate Board (GMREB).

“In addition to the drop in sales, the number of properties available on the market increased for an eighth consecutive month which, as we anticipated, translated into more relaxed market conditions, said Diane Ménard, Vice-President of the GMREB Board of Directors. “Some areas of Greater Montréal even had a balanced market in April. The market was balanced for single-family homes in the Vaudreuil-Soulanges area and on the North Shore, and it was balanced for condominiums in Vaudreuil-Soulanges, on the North Shore and in Laval,” she added.

In terms of property categories, plexes registered the largest slowdown in sales in April 2011, with a 31 per cent decrease compared to April 2010. Sales of single-family homes fell by 16 per cent and condominium sales decreased by 15 per cent.

Geographically, the number of transactions on the North Shore decreased by 10 per cent in April 2011 compared to the same month last year. Sales in the Vaudreuil-Soulanges area decreased by 13 per cent, while sales on the Island of Montréal, in Laval and on the South Shore fell by 17, 24 and 25 per cent, respectively.

“A sign that the market is becoming more relaxed is the fact that price increases were once again more moderate this month, as we had predicted,” said Diane Ménard.


In April 2011, the median price of single-family homes in the Montréal area reached $265,000, a 6 per cent increase compared to April 2010. Both condominiums and plexes posted a 4 per cent increase in median price, reaching $219,000 and $390,000, respectively. At the same time last year, the median price of single-family homes increased by 9 per cent, that of condominiums increased by 10 per cent and that of plexes grew by 9 per cent.

As at April 30, 2011, the number of active listings on the MLS® system increased by 17 per cent in comparison with the same date last year.

   

   

Île-des-Sœurs, April 07, 2011 - There were 5,188 MLS® sales transactions in the Montréal Metropolitan Area in March 2011, a 13 per cent decrease compared to March 2010, according to the Greater Montréal Real Estate Board (GMREB). Despite this decrease, March 2011 was one of the best months of March in sales since the early 2000s.

“It’s important to remember that March 2010 was exceptionally active and set a new sales record in the Montréal area,” said Diane Ménard, Vice-President of the GMREB Board of Directors. “With 5,188 sales transactions, March 2011 posted one of the best results of the 2000s, surpassed only by March 2010 (5,967 sales), March 2007 (5,354 sales) and March 2002 (5,307 sales). Condominiums registered the best results with 1,641 sales in the Montréal area in March 2011, only 2 per cent lower than in March 2010 and the second best performance for a month of March,” she added.

As for the other property categories, sales of single-family homes decreased by 17 per cent in March 2011, while plex sales fell by 21 per cent.

Geographically, March 2011 was one of the strongest months of March for most regions in the Montréal area, despite the decrease in sales. Vaudreuil-Soulanges stood out with only a 3 per cent decrease in sales compared to March 2010. Sales on the Island of Montréal decreased by 9 per cent, while Laval and the North Shore registered respective decreases of 12 and 14 per cent. The South Shore experienced a more difficult March than the other areas with 1,128 sales transactions, a decrease of 21 per cent compared to the same period last year and one of the weakest results of the 2000s, ahead of only March 2009 and March 2003. This slowdown is primarily due to significant sales decreases in the areas of Centre of the South Shore (Brossard, Saint-Lambert, Candiac, La Prairie), the South-West area of the South Shore (Delson, Saint-Constant, Sainte-Catherine, Saint-Mathieu, Saint-Philippe) and Châteauguay (Beauharnois, Châteauguay, Léry, Mercier, Saint-Isidore).

As for prices, property prices continued to increase in the Montréal area in March 2011, but at a more moderate pace. The median price of single-family homes increased by 6 per cent compared to March 2010 to reach $260,000. The median price of condominiums increased by 3 per cent to reach $210,000 while that of plexes grew by 8 per cent to reach $405,500.

“As we anticipated, price increases were more moderate in 2011 due to slower sales and the market’s move toward becoming balanced,” said Diane Ménard.

As at March 31, 2011, 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, March 09, 2011 - Although still favouring home sellers, market conditions eased as evidenced by the number of MLS® sales transactions in the Montréal Metropolitan Area in February 2011, according to the Greater Montréal Real Estate Board (GMREB). The market eased the most for single-family homes in Vaudreuil-Soulanges and on the North Shore, while condominiums moved more towards a balanced market on the North Shore and in Laval.

“As expected, market conditions continued to become more balanced in February. Even though sellers still have the upper hand, buyers have a bit more bargaining power, a trend we started seeing since April 2010,” said Diane Ménard, Vice-President of the GMREB Board of Directors. “Market conditions favoured sellers the most on the Island of Montréal, in the case of both single-family homes and condominiums.”

More moderate price increases in February 2011 is another sign that market conditions are easing. The median price for a single-family home increased by 4 per cent to $254,000 in the Montréal area compared to February 2010. The median price for plexes increased by 3 per cent, reaching $390,000. Only condominium prices registered sustained growth, posting an increase of 9 per cent to reach $214,500.

In terms of sales, 4,104 residential transactions were registered in the Montréal area in February 2011, a 7 per cent decrease compared to February 2010. Plexes posted the most significant decrease, 11 per cent, while sales of single-family homes and condominiums declined by 7 per cent in February 2011.

Geographically, the Island of Montréal was the most active area in February 2011, with a slight decrease in sales of 3 per cent compared to the same month last year. Vaudreuil-Soulanges and the North Shore followed closely with respective sales decreases of 4 per cent and 6 per cent. Sales were down by 10 per cent in Laval and by 14 per cent on the South Shore.

As at February 28, 2011, the number of active listings on the MLS® system increased by 13 per cent in comparison with the same date last year.

“The increase in the number of homes for sale – which provides more choice for buyers – and the easing up of sales we’ve seen over the past 10 months lead us to believe that the market will continue moving towards becoming balanced in the next few months,” said Diane Ménard.

   

   

Île-des-Sœurs, February 09, 2011 - There were 2,477 MLS® sales transactions in the Montréal Metropolitan Area in January 2011, a 10 per cent decrease compared to January 2010, according to the Greater Montréal Real Estate Board (GMREB). Despite a decrease in sales, prices continued their upward trend.

“It’s important to remember that in 2010, the year started off strong due to the anticipated increase in mortgage interest rates. In that way, it’s no surprise that January 2011 sales are down compared to January 2010,” said Diane Ménard, Vice President of the GMREB Board of Directors. “We’re predicting a slight decrease in residential sales in 2011, which is even more reason we’re not surprised by January’s sales,” she added.

In terms of prices, they continued to increase in January 2011. Both single-family homes and plexes registered a 7 per cent increase in median price, reaching $252,000 and $390,000, respectively. The median price of condominiums posted a more modest increase of 4 per cent to reach $210,000.

“When we look at property prices elsewhere in Canada, we see that Montréal is still one of the country’s most affordable large cities. For example, in Calgary, a city that also publishes median prices, the median price of single-family homes was $390,000, which is 55 per cent higher than Montréal’s median price of $252,000,” said Ms. Ménard.

All property categories posted a decrease in sales in January 2011 in the Montréal area. Sales of single-family homes decreased by 11 per cent compared to January 2010, sales of condominiums decreased by 8 per cent and plex sales fell by 9 per cent. Even though the 782 condominiums sold in January 2011 did not surpass the sales level of January 2010, this was still the second best January on record for condominium sales, which demonstrates the growing demand for this type of property.

Geographically, the Island of Montréal and Laval both posted a slight 3 per cent decrease in sales in January 2011 compared to January 2010. Sales in the Vaudreuil-Soulanges area decreased by 7 per cent, while sales on the North Shore fell by 11 per cent. Finally, the South Shore registered a sharper decrease in real estate activity, as sales fell by 22 per cent.

As at January 31, 2011, the number of active listings on the MLS® system increased by 13 per cent in comparison with the same date last year.

“If you take into consideration that sales have decreased and listings have increased, it shows that market conditions are softening in Montréal. Even though the market continues to favour sellers, we can see that we’re slowly moving towards a balanced market,” said Diane Ménard.

   

   

Île-des-Sœurs, January 11, 2011 – MLS® sales in the Montréal Metropolitan Area increased by 1 per cent in 2010 compared to 2009, with a total of 42,347 transactions, according to the Greater Montréal Real Estate Board, making 2010 the second best year on record in sales.

“There were two distinct phases in 2010. The first four months of the year were very active as many consumers bought their properties earlier than planned in order to avoid a possible increase in mortgage rates. Then the real estate market began to slow down in the following months and posted eight consecutive monthly sales decreases,” said Diane Ménard, Vice-President of the GMREB Board of Directors. “However, the strong start to 2010 compensated for the loss of momentum later on in the year, and the real estate market actually finished the year with a slightly higher number of transactions compared to 2009, but fewer transactions compared to the record set in 2007,” she added.

In terms of property categories, condominiums posted the largest increase in sales in 2010 and it was the only property category to register an increase in the Montréal area. The 12,668 condominiums sold surpassed by 7 per cent the previous record set in 2009. Sales of single-family homes and plexes remained relatively stable in 2010, decreasing slightly by 1 per cent compared to 2009.

Geographically, Laval and Vaudreuil-Soulanges registered the biggest increases in sales in 2010, as both areas posted a 4 per cent increase compared to 2009. The popularity of condominiums in these two areas contributed significantly to their strong performance, as condominium sales increased by 28 per cent in the Vaudreuil-Soulanges area and by 15 per cent in Laval. Strong condominium sales on the Island of Montréal (+7 per cent) and on the North Shore (+10 per cent) contributed to the vitality of these two areas, which ended the year with a 2 per cent increase in sales compared to 2009. The South Shore was the only area to register a decrease in sales compared to 2009, with a slight drop of 2 per cent.

“Condominiums were primarily responsible for the strong 2010 real estate market due undoubtedly to their affordability. It also leads us to believe that there were many first-time buyers on the market in 2010, as this property category is most popular with first-time buyers who also took advantage of low interest rates,” said Ms. Ménard.

As for prices, all three property categories finished the year with a higher median price than that of 2009. The median price of single-family homes increased by 7 per cent to reach $252,000, while that of condominiums increased by 8 per cent to reach $210,000 and that of plexes grew by 9 per cent to reach $380,000.

   

   

Île-des-Sœurs, December 9, 2010 – November 2010 MLS® sales on the Island of Montréal set a new record with 1,370 sales, an increase of 1 per cent, slightly surpassing the previous record set in November 2009, according to the Greater Montréal Real Estate Board's (GMREB) MLS® statistics. Sales in the Montréal Metropolitan Area decreased by 5 per cent in November 2010, while year-to-date sales increased by 2 per cent.

“November was a strong month for the Montréal area real estate market,” said Diane Ménard, Vice-President of the GMREB Board of Directors. “It’s true that MLS® sales decreased for a seventh consecutive month, but the decrease was much smaller than those registered in recent months. Furthermore, some areas really stood out, such as Laval, which posted a 3 per cent increase in sales, and the Island of Montréal which set a new November sales record,” she added.

Condominiums also stood out in November 2010, as it was the only property category to register an increase in sales in the Montréal area. The 983 condominium sales set a new November record, surpassing the November 2009 peak by 3 per cent. Condominium sales increased in most of the main areas in the Montréal region. Only the South Shore posted a decrease in condominium sales (-9 per cent). On the Island of Montréal, in Laval and on the North Shore, the number of condominiums sold in November 2010 increased by 4, 23 and 15 per cent, respectively, compared to November 2009.

However, the increase in condominium sales was not enough to offset the decrease in sales of single-family homes (-7 per cent) and plexes (-13 per cent) in the Montréal area. Geographically, the North Shore (-10 per cent) and the South Shore (-14 per cent) were primarily responsible for pulling Montréal area residential sales downward. Sales in the Vaudreuil-Soulanges area decreased slightly by 3 per cent.

In terms of prices, all three property categories registered a 7 per cent increase in median price in November 2010 compared to November 2009. In the Montréal area, the median price of single-family homes reached $260,750, that of condominiums reached $218,000 and that of plexes reached $385,000.

“These price increases are good news for sellers, as it shows that real estate continues to be a solid investment. Furthermore, selling times continued to decrease in November, which is also encouraging for sellers. There was good news for buyers as well, as they had more choice compared to November 2009 as active listings increased by 7 per cent,” said Diane Ménard.

   

   

Île-des-Sœurs, November 9, 2010 – There were 2,839 sales transactions in the Montréal Metropolitan Area in October 2010, a 19 per cent decrease compared to October 2009. On a year-to-date basis, sales have increased by 3 per cent compared to the first ten months of last year.

“After posting record sales levels in October 2009, it’s normal that the Montréal real estate market was less active this October,” said Diane Ménard, Vice-President of the Board of Directors of the GMREB. “Furthermore, 2009 and 2010 were very different years on the real estate market: 2009 began with a significant decrease in sales due to the recession and ended with record-high sales. Conversely, 2010 started off strong with record-breaking months but sales have returned to their usual levels,” she added.

Property prices in the Montréal area continued to increase in October 2010. The median price of single-family homes increased by 8 per cent compared to October 2009, reaching $260,000. The median price of condominiums increased by 12 per cent to reach $218,000, while that of plexes increased by 9 per cent to reach $380,000.

“Market conditions continued to favour sellers, which explains why property prices continued to increase in the Montréal area,” said Ms. Ménard. “Consumers are still buying real estate, as price increases indicate that buying a property is still a solid investment. Moreover, Montréal is one of the most affordable cities in Canada,” she added.

In terms of sales by property category, condominiums fared best, posting a 14 per cent decrease compared to October 2009. Sales of single-family homes decreased by 21 per cent and that of plexes fell by 26 per cent.

Geographically, the North Shore, Vaudreuil-Soulanges and the Island of Montréal posted similar decreases in sales at 14, 15 and 16 per cent, respectively. The South Shore and Laval posted larger decreases, at 24 and 31 per cent, respectively.

   

   

Île-des-Sœurs, October 13, 2010 – There were 2,704 sales transactions in the Montréal Metropolitan Area in September 2010, a decrease of 13 per cent compared to September 2009 but a level similar to those registered from September 2003 to 2008, according to the Greater Montréal Real Estate Board's (GMREB) MLS® statistics. 

“We were coming out of the recession last September and the real estate market was particularly active,” said Diane Ménard, Vice-President of the Board of Directors of the GMREB. “More than 3,000 transactions took place last September, the highest number of sales ever recorded in a month of September. This year, the market has returned to normal and sales levels are similar to those seen from September 2003 to September 2008,” she added. 

All property categories registered a decrease in sales in September 2010 compared to September 2009. Single-family home sales decreased by 16 per cent, condominium sales decreased by 9 per cent and plex sales fell by 10 per cent. 

Geographically, the North Shore posted the smallest decrease in sales, at 6 per cent. Sales in the Vaudreuil-Soulanges area decreased by 10 per cent, while sales on the Island of Montréal, on the South Shore and in Laval decreased by 14, 19 and 14 per cent, respectively. 

As for prices, the median price of single-family homes in the Montréal area reached $252,000 in September 2010, a 3 per cent increase compared to the same month last year. The median price of condominiums increased by 8 per cent to reach $216,000, while that of plexes increased by 9 per cent to reach $379,000. 

“As anticipated, the decrease in sales that we experienced in recent months has led to a slow-down in the rate of price increases, particularly for single-family homes,” said Ms. Ménard. “This situation can also be explained by a rebalancing of supply and demand, since as at September 30, 2010, the number of active listings increased by 1 per cent in comparison with the same date last year, a first in 13 months. For now, we are still in a seller’s market in the Montréal area, but the increase in supply and the decrease in demand suggests that the scale will become balanced in the coming months,” she added. 

   

 

Île-des-Sœurs, September 14, 2010 – Properties in the Montréal Metropolitan Area were selling faster in August 2010 compared to the same period last year according to the Greater Montréal Real Estate Board's (GMREB) MLS® statistics. 

In August 2010, single-family homes in the Montreal area sold in an average of 69 days, 10 days faster than in August 2009. Condominiums sold in an average of 79 days, a decrease of 11 days. Plexes sold the fastest with an average sale time of 62 days, 29 fewer days compared to the same period last year. 

“The real estate market in the Montréal area is currently a seller’s market: average selling times are very short and the number of properties available on the market decreased for the thirteenth consecutive month in August, leaving slightly less choice for buyers,” said Diane Ménard, Vice-President of the Board of Directors of the GMREB. “Because market conditions are tighter, property prices in the Montréal area continued to increase,” she added. 

The median price of single-family homes in the Montréal area reached $254,000 in August 2010, a 7 per cent increase compared to August 2009. The median price of condominiums increased by 9 per cent to reach $215,000, while that of plexes increased by 14 per cent to reach $395,000. 

In terms of sales, the market slowed in August 2010 as the number of residential sales in the Montréal area decreased by 16 per cent compared to August 2009. Sales of single-family homes decreased by 16 per cent, sales of condominiums decreased by 13 per cent, and sales of plexes fell by 22 per cent. 

Geographically, all areas posted a decrease in sales similar to that of the Montréal Metropolitan Area as a whole. The North Shore had the smallest decrease in sales, at 11 per cent, while the Island of Montréal posted a 16 per cent decrease in sales. Laval, Vaudreuil-Soulanges and the South Shore posted decreases of 18, 17 and 18 per cent, respectively. 

“Summer is always a slower period for the real estate market. Last year, however, the market was more active than usual as we were emerging from the recession,” said Ms. Ménard. “It is therefore too early to talk of a market downturn, particularly since year-to-date sales are up by 8 per cent. It will be interesting to see how the market performs in the fall, which is normally a more active period,” she added. 

As at August 31, 2010, 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 5, 2010 – Although sales in the Montréal Metropolitan Area decreased by 26 per cent in July 2010 compared to July 2009, year-to-date sales increased by 10 per cent according to the Greater Montréal Real Estate Board's (GMREB) MLS® statistics. Property prices in the Montréal area also continued to increase.

“The real estate market normally slows during the summer months,” said Diane Ménard, Vice-President of the Board of Directors of the GMREB. “The market was busier than usual at the start of the year, as consumers accurately predicted an increase in mortgage rates and bought their property earlier than originally planned,” she added. 

Geographically, the South Shore and Laval had the largest decreases in sales, at 31 and 28 per cent, respectively, in July 2010 compared to July 2009. Sales decreased by 22 per cent in the Vaudreuil-Soulanges area, by 23 per cent on the Island of Montréal and by 25 per cent on the North Shore.

In terms of prices, single-family homes, condominiums and plexes all registered an increase in their median price compared to July 2009. In the Montréal area, the median price of single-family homes reached $258,000 (+5 per cent), that of condominiums reached $220,000 (+8 per cent), and that of plexes reached $381,500 (+9 per cent).

“We’re currently in a seller’s market. This explains why prices continue to increase despite the decrease in sales,” said Diane Ménard. 

As at July 31, 2010, 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, June 8, 2010 – Sales in the Montréal Metropolitan Area decreased by 19 per cent in June 2010 compared to June 2009, meaning a year-to-date increase in sales of 16 per cent compared to last year, according to the Greater Montréal Real Estate Board's (GMREB) MLS®statistics. Property prices also continued to increase. 

“June’s decrease in sales is no surprise because June 2009 was an exceptional month for the real estate market. In fact, it was the first time that sales in the Montréal area surpassed 4,000 transactions in a month of June,” said Michel Beausejour, FCA, Chief Executive Officer of the GMREB. “The market in June 2009 was recovering after a few difficult months due to the recession. And now, one year later, the market has returned to normal,” he added. 

“In addition, sales are up by 16 per cent in the first six months of 2010. This is because the market was very active, more than usual, at the start of the year, as consumers who had put their property purchase on hold due to the recession were back on the market,” said Beauséjour. 

In terms of property categories, condominiums registered a 13 per cent decrease in sales in June 2010 compared to June 2009. Single-family home sales in the Montréal area decreased by 21 per cent, while plex sales fell by 24 per cent. 

Geographically, the North Shore and Laval had the smallest decreases in sales, at 12 and 13 per cent, respectively, in June 2010 compared to June 2009. Sales decreased by 16 per cent in Vaudreuil-Soulanges, by 20 per cent on the Island of Montréal and by 26 per cent on the South Shore. 

As for prices, single-family homes, condominiums and plexes all registered an 8 per cent increase in median price in June 2010 compared to the same month last year. In the Montréal area, the median price of a single-family home reached $260,000, that of condominiums reached $214,500, and that of plexes reached $385,000. 

“We’re currently in a seller’s market. This explains why prices continue to increase despite the decrease in sales,” said Michel Beauséjour. 

As at June 30, 2010, 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, June 30, 2010 – Claude Charron, President of the Québec Federation of Real Estate Boards (QFREB), and Patrick Juanéda, President of the Greater Montréal Real Estate Board (GMREB), today announced the departure of Michel Beauséjour, FCA, Chief Executive Officer of the Québec Federation of Real Estate Boards and the Greater Montréal Real Estate Board. He will remain in office until his successor is appointed. 

Beauséjour said that a change in leadership was necessary to help support the ever changing landscape of the real estate industry as well as the major challenges facing brokers today. “On my part, I have developed and implemented all of the necessary tools to ensure the success of the industry and of real estate brokers as they face these essential changes,” said Mr. Beauséjour in his letter of resignation. He added that he was very confident in the industry’s ability to respond to the challenges it is facing. 

Mr. Charron and Mr. Juanéda stressed Michel Beauséjour’s exceptional contribution to the province’s real estate industry during his eleven years as its leader. “If the Greater Montréal Real Estate Board is thought of, in Canada and the United States, as a role model for its technology, professionalism and organization, this is largely due to the vision of Michel Beauséjour, a real estate industry pioneer who consistently proposed innovative ideas in line with changing market realities,” said Patrick Juanéda, President of the Greater Montréal Real Estate Board. 

Claude Charron, President of the Québec Federation of Real Estate Boards, highlighted the immense contribution that Beauséjour made in the consolidation of the real estate industry in Québec, which included that of standardization of professional practices and the implementation of one MLS®system for all of Québec.  

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.