Sales Decrease for a Twelfth Consecutive Month in April 2011

Île-des-Sœurs, May 10, 2011 – There were 4,509 MLS® sales transactions in the Montréal Metropolitan Area in April 2011, an 18 per cent decrease compared to April 2010 and the twelfth consecutive monthly decrease, according to the Greater Montréal Real Estate Board (GMREB).

“In addition to the drop in sales, the number of properties available on the market increased for an eighth consecutive month which, as we anticipated, translated into more relaxed market conditions, said Diane Ménard, Vice-President of the GMREB Board of Directors. “Some areas of Greater Montréal even had a balanced market in April. The market was balanced for single-family homes in the Vaudreuil-Soulanges area and on the North Shore, and it was balanced for condominiums in Vaudreuil-Soulanges, on the North Shore and in Laval,” she added.

In terms of property categories, plexes registered the largest slowdown in sales in April 2011, with a 31 per cent decrease compared to April 2010. Sales of single-family homes fell by 16 per cent and condominium sales decreased by 15 per cent.

Geographically, the number of transactions on the North Shore decreased by 10 per cent in April 2011 compared to the same month last year. Sales in the Vaudreuil-Soulanges area decreased by 13 per cent, while sales on the Island of Montréal, in Laval and on the South Shore fell by 17, 24 and 25 per cent, respectively.

“A sign that the market is becoming more relaxed is the fact that price increases were once again more moderate this month, as we had predicted,” said Diane Ménard.

In April 2011, the median price of single-family homes in the Montréal area reached $265,000, a 6 per cent increase compared to April 2010. Both condominiums and plexes posted a 4 per cent increase in median price, reaching $219,000 and $390,000, respectively. At the same time last year, the median price of single-family homes increased by 9 per cent, that of condominiums increased by 10 per cent and that of plexes grew by 9 per cent.

As at April 30, 2011, the number of active listings on the MLS® system increased by 17 per cent in comparison with the same date last year.



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 close to 11,000 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 and maintain their predominance in the real estate industry.

Amir Sam

Amir Sam

Certified Real Estate Broker
CENTURY 21 Immo-Plus
Contact Me