Residential Real Estate Market: Most Active Month of December in the Past Three Years in the Montréal Area

Île-des-Sœurs, January 12, 2015 - he Greater Montréal Real Estate Board (GMREB) today released its residential sales statistics for the Montréal Census Metropolitan Area (CMA). According to the real estate brokers’ Centris® provincial database, 2,203 residential sales were concluded in December 2014, a 9 per cent increase compared to December of last year and the most active month of December in the past three years.

“Not only was December the best month of 2014 in terms of sales growth, it was also the largest monthly increase in sales in the Montréal area in thirty-one months, meaning since May 2012,” said Diane Ménard, Vice-President of the GMREB Board of Directors.

Geographically, the northern suburbs registered a remarkable increase in sales in December. Sales in Laval jumped by 26 per cent and sales on the North Shore grew by 19 per cent compared to December of last year. The South Shore and the Island of Montréal also registered sales increases, with transactions rising by 8 per cent and 4 per cent, respectively. Only Vaudreuil-Soulanges registered a decrease in sales, at 9 per cent, compared to December 2013.

By property category, throughout the CMA, sales of both single-family homes and condominiums increased by 9 per cent in December, while plex sales grew by 10 per cent. As for prices, the median price of single-family homes remained stable at $284,000, that of condominiums increased by 2 per cent ($235,000) and that of plexes rose by 8 per cent ($444,375) compared to December of last year.

Finally, the number of active listings on the real estate brokers’ Centris® system continued its upward trend. In December 2014, there were 8 per cent more properties for sale across the Montréal CMA compared to December 2013.

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About the Greater Montréal Real Estate Board

The Greater Montréal Real Estate Board is a non-profit organization with more than 9,300 members: real estate brokers. Its mission is to actively promote and protect its members’ professional and business interests in order for them to successfully meet their business objectives.

Amir Sam

Amir Sam

Certified Real Estate Broker
CENTURY 21 Immo-Plus
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