The Greater Montréal Real Estate Board (GMREB) published its latest statistics today, based on the provincial Centris database.
The report finds that residential sales in the CMA have experienced a slight increase (1%) compared to July 2017. June marked Montreal’s 40th consecutive increase in sales activity, which is a record breaking stretch of sustained growth.
Condos and single family homes both recorded below-average appreciation rates, while ‘plexes have seen a 7% increase in price.
Prices and Appreciation
- Montreal saw the smallest increase in single family home prices in the past 20 months. The average single family home cost $325,089 in June, a 1% increase year over year.
- The condominium market saw no change between June 2017 and June 2018. The average condo now costs $256,000.
- Plexes saw a more significant increase in their median price, year over year. The average plex in Montreal costs $507,000.
Sales by geographic area
- Five out of six main areas in Montréal’s CMA registered an increase in sales activity.
- Laval and Vaudreuil-Soulanges saw the highest increase, at 8% and 6%.
- Sales dropped by 5% on the Island of Montreal. This is the second time in the past 2 years that sales have decreased on the Island of Montreal.
Sales by property category
- The condominium market led the way last month when it comes to sales activity. Condos saw a 7% increase in sales compared to June of last year.
- Both the single family home and plex market saw decreasing activity, by -2% and -3% respectively.
Inventory dropped by 17% in the Montreal CMA in June. There were 22,333 active listings recorded on Centris that month.
This article, Centris® Residential Sales Statistics: June 2018, appeared first on Shupilov News.