Île-des-Sœurs, July 6, 2012 – Residential MLS® sales in the Montréal Census Metropolitan Area (CMA) increased by 1 per cent in June 2012 compared to June 2011, with a total of 3,496 transactions, according to the Greater Montréal Real Estate Board (GMREB). While sales have increased in the Montréal CMA for five consecutive months, it is the suburbs that have registered the largest increases in the past three months, with Laval leading the way.
“The area of Laval stood out once again for its dynamic sales activity,” said Diane Ménard, Vice-President of the GMREB Board of Directors. “With a total of 419 transactions in June 2012, Laval registered a 12 per cent increase in sales compared to June of last year, as well as the largest increase in median price of single-family homes,” she added.
Single-family homes were the only property category to register an increase in sales in the Montréal Metropolitan Area, growing by 5 per cent in June 2012 compared to June 2011, while sales of both condominiums and plexes fell by 5 per cent.
Of the five main regions of the Montréal CMA, the South Shore was the only area other than Laval to register an increase in sales in June 2012, growing by 7 per cent compared to June 2011, for its seventh consecutive monthly increase. Sales on the North Shore remained stable, while the Island of Montréal and Vaudreuil-Soulanges both posted a decrease in sales at 4 and 6 per cent, respectively.
As for median prices, we observed a 2 per cent increase in the median price of single-family homes on the Island of Montréal ($379,000), on the South Shore ($269,250) and in Vaudreuil-Soulanges ($268,151). On the North Shore, the median price of single-family homes increased by 1 per cent ($235,000) compared to June 2011, while once again, Laval led the way with a 3 per cent increase in median price ($289,000).
As at June 30, 2012, the number of active listings on the MLS® system increased by 9 per cent in comparison with the same date last year.
The MLS® Home Price Index
Here is the MLS® HPI data for June 2012:
For more information, please visit www.homepriceindex.ca .
About the Greater Montréal Real Estate Board
The Greater Montréal Real Estate Board is a non-profit organization that brings together most of the real estate brokers who work in the Greater Montréal area. With more than 10,000 members, it is the second largest board in Canada. Its mission is to actively promote and protect its members' professional and business interests in order for them to successfully meet their business objectives.