Montréal Real Estate Market: Best September on Record

Île-des-Soeurs, October 7, 2009 – Sales in the Montréal Metropolitan Area increased by 5 per cent in September 2009 compared to September 2008, according to the Greater Montréal Real Estate Board's MLS® statistics.

Property prices also continued to climb, with a 7 per cent increase in median price for single-family homes.
"September 2009 was the best September on record for the Montréal market. We're seeing a balanced market now, so both buyers and sellers are benefiting," said Michel Beauséjour, FCA, Chief Executive Officer of the GMREB.
In terms of sales, single-family homes led the way with an 8 per cent increase in September 2009 compared to the same month last year, while condominium and plex sales increased by 1 and 3 per cent, respectively.


MLS® Residential Statistics
Montreal Metropolitan Area
September 2009 versus September 2008
Active listings 20,912 -7%
New listings 6,110 -11%
Total sales 3,140 +5%
  Single-family 1,894 +8%
  Condominiums 892 +1%
  Plexes (2 to 5 dwellings) 347 +3%
Volume of sales $894,528,740 +14%
Median price    
  Single-family $243,500 +7%
  Condominiums $200,000 +7%
  Plexes (2 to 5 dwellings) $347,000 +5%
Source: Greater Montreal Real Estate Board by Centris®

As for prices, the median price of single-family homes and condominiums increased by 7 per cent in September 2009 compared to September 2008. Plexes also stood their ground, with a 5 per cent increase in median price.
"Montréal's real estate prices have continued to increase slowly but steadily, once again confirming that Montreal is not only a desirable place to live, but also a solid investment so far as real estate is concerned," added Mr. Beauséjour.

Geographically, the Vaudreuil-Soulanges area stood out in September 2009 with a 40 per cent increase in sales compared to September 2008. The Island of Montréal and the South Shore also turned in strong performances, as sales in both of these areas increased by 9 per cent. The number of transactions increased by 3 per cent in Laval and decreased by 9 per cent on the North Shore.
As at September 30, 2009, the number of active listings on the MLS® system decreased by 7 per cent in comparison with the same date last year.

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Marlene Ofter

Marlene Ofter

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