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Montreal Residential Sales Statistics – December 2017

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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.

Centris® Residential Sales Statistics – December 2017 (CNW Group/Chambre immobilière du Grand Montréal)

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.

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