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Centris® Residential Sales Statistics: February 2018

Montreal's residential market shows strong gains all around.

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Earlier this week,The Greater Montréal Real Estate Board (GMREB) released its latest report on Montreal’s residential real estate market.

GMREB’s monthly statistics are based on transactions recorded on Centris®, Quebec’s real estate database, and take into account all areas in the Montréal Census Metropolitan Area (CMA)

Key takeaways for the February 2018 report include:

  • A total of 4,081 residential sales concluded in February 2018
    Sales transactions increased by 5% on the Island of Montreal since February 2017
  • Condominiums lead the way as the best-selling property type
  • Single family homes showed the highest annual appreciation rate – 6%

Sales by property category

  • Condominiums saw the largest jump in sales transactions, increasing by 14% in February.
  • Single-family homes saw a 1% increase in sales transactions.
  • Plexes (2 to 5 dwellings) saw a 3% increase in sales transactions.

Sales by geographic area

  • Increases in sales transactions were recorded in five of the six main areas of the Montreal CMA in February.
  • The area of Vaudreuil-Soulanges performed best, with a  21 % jump in sales activity.
  • South Shore. Saint-Jean-sur-Richelieu and Island of Montreal showed healthy growth, with 10%, 7% and 5% increases respectively. In the North Shore, the change was more modest at +2%.
  • Laval was the only area with a decrease in sales activity of -3%.
Centris® Residential Sales Statistics – February 2018 (CNW Group/Chambre immobilière du Grand Montréal)

Average Prices

  • The median price of single-family homes in the Montréal CMA reached $310,000 in February. This was a 6% increase compared to February 2017.
  • The median price of condominiums increased by 5%
  • The median price of ‘plexes increased by 1% to $481,500.

Active Listings

In February 2018, the number of active residential listings recorded in the CMA decreased by 17%, to 26,252.

About the Greater Montréal Real Estate Board

The GMREB is a non-profit organization bringing together more than 9000 real estate brokers. It is the second largest real estate board in Canada.

Related Links

This article, Centris® Residential Sales Statistics: February 2018 , appeared first on Shupilov News.

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