North Shore Fared Well Despite Ongoing

Centris® Residential Sales Statistics for the Montréal Metropolitan Area
Real Estate Market: North Shore Fared Well Despite Ongoing
Slowdown


Île-des-Sœurs, June 7, 2013 – According to the real estate brokers’ Centris®
provincial database, there
were 4,288 residential sales transactions concluded in the Montréal Census Metropolitan Area (CMA) in
May 2013, said the Greater Montréal Real Estate Board (GMREB). This represents an 8 per cent
decrease compared to May 2012 and the smallest drop in sales in the past seven months. The North
Shore performed well with a 5 per cent decrease in sales.
“The North Shore registered the smallest decrease in sales for the fourth consecutive month,” said Diane
Ménard, Vice-President of the GMREB Board of Directors. “In a context where some buyers had to revise
their budget due to the new mortgage rules, the North Shore continues to benefit from the fact that it is
the most affordable area in the Montréal region,” she added.
All three property categories registered a drop in sales in May 2013 as compared to May 2012. Sales of
single-family homes and plexes fell by 7 per cent, while condominium sales decreased by 12 per cent.
All five main areas of the Montréal CMA registered a decrease in sales in May 2013. While the North
Shore posted the smallest drop at 5 per cent, sales in Vaudreuil-Soulanges, the South Shore and
Montréal decreased by 7, 8 and 9 per cent, respectively. Laval registered a 14 per cent drop in sales.
The median price of single-family homes grew by 4 per cent across the CMA in May, the largest increase
since December 2012. By area, the South Shore led the way with a 6 per cent increase ($279,900)
followed by Laval with a 5 per cent increase ($290,000), Vaudreuil-Soulanges with a 3 per cent increase
($268,000) and the North Shore with a 2 per cent increase ($240,000). On the Island of Montréal
($380,000), the median price of single-family homes remained unchanged compared to May of last year.
The median price of condominiums remained
unchanged (0 per cent) in May in the Montréal CMA.
A slight decrease of 1 per cent was registered on
the Island of Montréal ($274,000) and in Laval
($208,000), but this was compensated by increases
of 3 per cent on the North Shore ($175,000) and
4 per cent on the South Shore ($189,500).
“Condominium prices have stabilized since the start
of the year in the Montréal Metropolitan Area,” noted
Paul Cardinal, Manager, Market Analysis, at the
Québec Federation of Real Estate Boards. “Despite
a slight excess in supply, construction of new
condominiums has slowed considerably in recent
months, which could lead to a rebalancing of this
market segment in the near future,” he added.
Centris® Residential Statistics
Montréal Metropolitan Area
May 2013 versus May 2012
Variation
Active listings on Centris.ca 32,603 16%
New listings 6,887 0%
Total sales 4,288 -8%
Single-family 2,558 -7%
Condominiums 1,300 -12%
Plexes (2 to 5 dwellings) 424 -7%
Volume of sales $1,386,003,532 -7%
Median price
Single-family $285,000 4%
Condominiums $228,000 0%
Plexes (2 to 5 dwellings) $430,000 2%
Source: Greater Montréal Real Estate Board by Centris®As at May 31, 2013, there were 32,603 active listings in the Centris®
system, up 16 per cent compared to
the same period last year. Once again, the increase in active listings was most noticeable for
condominiums (28 per cent). The increase in supply was more moderate for plexes (12 per cent) and
single-family homes (10 per cent).
Geographically, the increase in the number of active listings was largest on the Island of Montréal
(+25 per cent) and in Laval (+23 per cent), while Vaudreuil-Soulanges, the South Shore and the North
shore registered respective increases of 16, 11 and 6 per cent.


Property Price Index for May 2013
Montréal Metropolitan Area
May 2013
January 2005 = 100 Composite HPI Annual Change
Montréal Metropolitan Area 156.7 3.6%
Island of Montréal 156.5 2.2%
Laval 160.7 3.8%
North Shore 154.2 4.5%
South Shore 159.6 5.4%
Vaudreuil-Soulanges 147.8 1.8%


For more information, please visit www.homepriceindex.ca.
About the Greater Montréal Real Estate Board
The Greater Montréal Real Estate Board is a non-profit organization with more than 10,000 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.
About Centris®
Centris®
, a division of the Greater Montréal Real Estate Board, offers technology resources to Québec’s
12 real estate boards and their 14,000 real estate brokers. Centris.ca is Québec’s real estate industry
website for consumers, grouping all properties for sale by a real estate broker under the same address.
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For May 2013 statistics charts, click here.
For year-to-date statistics charts, click here.
For further information:
Chantal de Repentigny
Assistant Director, Media Relations and Special Projects
Communications and Industry Relations
Tel.: 514-762-2440, ext. 130
chantal.derepentigny@gmreb.qc.ca

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Matthew Warsh

Matthew Warsh

Real Estate Broker
CENTURY 21 Vision
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