December’s residential statistics by the GMREB (Greater Montreal Real Estate Board) indicate that Montreal’s real estate market ended on a high note in 2017
2,781 residential sales were concluded in total, a 10% increase relative to December 2016. This was the most active December since 2009.
Real Estate Prices
- The median price of detached homes in the CMA was $305,000 in December, a 2% increase year over year.
- The median price of ‘plexes (2 to 5 dwellings) increased by 3 per cent, to $484,000.
- The median price of condominiums increased by 8% in December, to $265,000.
Sales by property category
- Condominium sales showed the highest increase in December, increasing by 35%. 978 condo transactions were recorded last month.
- Sales of ‘plexes increased by 5%
- Sales of single-family homes decreased slightly, by 1%.
Sales by neighbourhoods
- Laval, the Island of Montréal and the South Shore showed the highest sales increase, with 20, 15 and 15% respectively.
- Only two areas – the North Shore (-4%) and Vaudreuil-Soulanges (-10%) – out of Montreal’s 6 metropolitan areas registered a decrease in sales in December.
Number of properties for sale
The supply of residential properties for sale decreased by 9% compared to 2016. This was the 27th consecutive month in which supply decreased. There were 24,520 active residential listings in the Centris® system in December.