Sales Increase in the Montréal Area

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[paragraph extra=””]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, 3,298 residential sales transactions were concluded in June 2014, a 3 per cent increase compared to June of last year. This was the first increase in sales in nine months.[/paragraph]
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[paragraph extra=””]“The increase in sales that we saw in June is largely due to the 14 per cent increase in condominium transactions on the Island of Montréal,” said Diane Ménard, Vice-President of the GMREB Board of Directors. “In fact, this was the most active month of June in the past three years for condominiums on the Island of Montréal, which bodes well for the rest of 2014,” she added.[/paragraph]
[paragraph extra=””]Across the Montréal CMA, sales of single-family homes increased by 2 per cent, sales of condominiums rose by 8 per cent and plex sales grew by 1 per cent. This was the first increase in condominium sales since September 2013.[/paragraph]
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[paragraph extra=””]Geographically, sales increased on the Island of Montréal (+10 per cent) and on the South Shore (+2 per cent), but decreased in Laval (-2 per cent), on the North Shore (-4 per cent) and in Vaudreuil-Soulanges (-1 per cent).[/paragraph]
[paragraph extra=””]As for prices in the Montréal CMA, the median price of single-family homes grew by 2 per cent in June 2014 compared to June of last year, to reach $291,000. The median price of plexes increased by 5 per cent ($445,650), while that of condominiums remained virtually unchanged at $234,525.[/paragraph]
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[blockquote name=”Diane Ménard, Vice-President of the GMREB Board of Directors”]This was the most active month of June in the past three years for condominiums on the Island of Montréal, which bodes well for the rest of 2014[/blockquote]
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[paragraph extra=””]The number of properties listed on the real estate brokers’ Centris® system in June 2014 was 10 per cent higher than one year earlier. This was the 46th consecutive monthly increase in the number of active listings. For a second consecutive month, single-family homes registered the largest increase in supply.[/paragraph]

Greater Montréal Real Estate Board
Île-des-Sœurs, July 8, 2014

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