The Greater Montreal Real Estate Board has just published their most recent real estate market statistics in the Montreal Census Metropolitan Area (CMA) for the month of August 2016.
Overall, there were 4,923 active listings in the Centris system during the month of August, down 10% from the 5,447 active listings recorded for August 2015. Total sales went up by 13%: 2,393 transactions were recorded in August 2015, compared to 2,699 in August 2016. All categories of sales showed an increase: 12% for single-family dwellings, 15% for condominiums and 10% for the plexes.
The median price for a single-family dwelling increased by 6% : $290,000 in August 2015 compared to $307,250 in August 2016; this represents the strongest increase in nearly five years.
According to Daniel Dagenais, president of the GMREB Board of Directors, “Market conditions are gradually tightening in the Montréal area. Only condominiums are still showing a surplus of inventory, which gives buyers a slight upper hand in negotiations.”