Greater Montreal continues to record strong growth in residential sales

The Greater Montréal Real Estate Board (GMREB) has just released its most recent residential real estate market statistics for the Montréal Census Metropolitan Area (CMA), based on the real estate brokers’ Centris provincial database. In total, 2,825 residential sales were concluded in December 2018, a 3 per cent increase compared to December of 2017. It also represents a new sales record for a month of December and the 46th consecutive increase in transactions.

According to Centris and the Greater Montreal Real Estate Board (GMREB), the region continues to record growing sales volumes. Photo by Samuel Charron via Unsplash.
According to Centris and the Greater Montreal Real Estate Board (GMREB), the region continues to record growing sales volumes. Photo by Samuel Charron via Unsplash.
  • Five of the six main areas of the Montréal CMA registered an increase in sales in December.
  • Vaudreuil-Soulanges and Saint-Jean-sur-Richelieu clearly stood out with respective sales increases of 13 per cent and 8 per cent.
  • Transactions were also on the rise on the North Shore (+6 per cent), in Laval (+5 per cent) and on the South Shore (+3 per cent).
  • The Island of Montréal was the only area that posted a decrease in sales, as transactions fell slightly by 1 per cent compared to December of 2017.

Sales by property category — Across the Montréal CMA, the number of single-family home transactions rose by 3 per cent (1,491 sales) while condominium transactions grew by 2 per cent (993 sales). In contrast, plex transactions fell by 1 per cent (336 sales).Centris Residential Sales Statistics – December 2018 (CNW Group/Chambre immobilière du Grand Montréal)

The median price of single-family homes and plexes increased significantly across the Montréal CMA in December, reaching $327,450 (+7 per cent) and $525,000 (+8 per cent) respectively. Over the same time period, the median price of condominiums rose by 3 per cent, reaching $272,863.

Number of properties for sale — In December, there were 18,970 active residential listings in the real estate brokers’ Centris system, an 18 per cent drop compared to one year earlier.

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