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