Second Consecutive Increase in Residential Sales in September 2013

Île-des-Sœurs, October 9, 2013 – The 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, 2,393 residential sales transactions were concluded in September 2013, an 8 per cent increase compared to September 2012 and the second consecutive increase in sales following last month’s rise of 3 per cent. “All three property categories registered an increase in sales in the Montréal CMA, for the first time since May 2012,” said Diane Ménard, Vice-President of the GMREB Board of Directors. “Plexes took the lead with an 18 per cent jump in sales compared to September of 2012,” she added. Condominium sales registered their second consecutive increase in September 2013, growing by 13 per cent. And finally, after being the only property category to register a decrease in sales in July and an unchanged sales level in August, single-family homes registered a 4 per cent increase in sales compared to September of last year. Geographically, with respective increases of 12 and 27 per cent, the Island of Montréal and the South Shore were the only two areas to experience sales growth in September 2013. This was the second consecutive increase for both of these areas. “These results are quite impressive at first glance but they must be put into perspective, given the steep decrease in sales that was observed in these areas last September,” said Paul Cardinal, Manager of the Market Analysis Department at the Québec Federation of Real Estate Boards. Despite the increase in condominium sales, market conditions continued to relax in September, with buyers having the upper hand in all areas of the CMA. For single-family homes, market conditions generally remained balanced but buyers were favoured in the area of Vaudreuil-Soulanges, while sellers had the upper hand in Laval. Finally, for plexes, market conditions remained unchanged compared to last month and remained balanced across the CMA. As at September 30, 2013, there were 29,790 active listings in the Centris® system, up 12 per cent compared to the same period last year and the 37 th consecutive monthly increase. The supply of condominiums increased by 16 per cent, a slightly smaller increase than those registered in recent months. For a second consecutive month, the increase in condominium listings was smallest on the Island of Montréal, at 11 per cent. In contrast, the largest increase in condominium listings was in the northern suburbs of Montréal (Laval and North Shore), at 33 per cent.  

Centris® Residential Sales Statistics for the Montréal Metropolitan Area

There are no comments

Thank you! Your comment has been submitted and is awaiting approval.

Massood Hashemi

Massood Hashemi

Residential Real Estate Broker
CENTURY 21 Immo-Plus
Contact Me