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June 2015 was the most active month of June in the past six years. Here’s why…
According to the Greater Montréal Real Estate Board (GMREB) and Centris®’s latest residential market statistics for the Montréal Census Metropolitan Area (CMA), June was a power-month for real estate.
François Bissonnette, President of the GMREB Board of Directors, claimed that “in the past few months, sales have been growing significantly faster than the number of listings, which means that market conditions have started to tighten again. However, the balance of power in negotiations is still, generally speaking, in the hands of buyers for condominiums.”
Compared to June 2014, Montreal saw an 11 per cent rise in residential sales, reaching a total of 3,627. The North Shore was a strong leader in sales, reaching a 26% increase for residential sales and 33% for specifically condo sales. On the Island of Montreal, transactions increased by 7%.
What types of properties are selling well this year?
Single family homes saw the largest increase in sales, at 15%. This was followed by plexus at 11% and finally condos at 4%.
What was the average sales price in June?
The median price of a condo was $240,000 while the median price of a single family home was $295,000.