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A Very Active Month of September for Montréal's Residential Real Estate Market

L'Île-des-Sœurs, October 5, 2018 - The Greater Montréal Real Estate Board (GMREB) has just released its most recent residential real estate market statistics for the Montréal Census Metropolitan Area (CMA), based on the real estate brokers’ Centris provincial database. In total, 3,220 residential sales were concluded in September 2018, which represents an 8 per cent increase compared to the same month last year and a nine-year high for a month of September.

"Montréal's real estate market has been performing exceptionally well, as sales have increased for 43 consecutive months now, ever since March of 2015," said Nathalie Bégin, Interim President of the GMREB Board of Directors.

Sales by geographic area
  • Geographically, four of the six main areas of the Montréal CMA registered an increase in sales in September: the South Shore (+20 per cent), Laval (+12 per cent), the Island of Montréal (+8 per cent) and Vaudreuil-Soulanges (+5 per cent).
  • Sales were unchanged on the North Shore but fell by 14 per cent in Saint-Jean-sur-Richelieu.
Sales by property category
  • Across the Montréal CMA, the trend continued for condominiums as this property category once again registered the largest increase in sales (1,206 transactions) in September, jumping by 23 per cent.
  • Sales of plexes (2 to 5 dwellings) registered a slight increase of 1 per cent (349 transactions).
  • Sales of single-family homes were unchanged compared to September of last year, with 1,660 transactions.
Prices
  • Median prices for all three property categories increased steadily in September across the Montréal CMA.
  • The median price of single-family homes rose by 7 per cent compared to September of last year to reach $336,000, while that of plexes increased by 6 per cent to reach $504,040.
  • As for condominiums, the increase in median price was a little weaker at 4 per cent, reaching $263,000.
Number of properties for sale

In September, there were 21,227 active residential listings in the Centris system, a 17 per cent drop compared to one year earlier.












About the Greater Montréal Real Estate Board

The Greater Montréal Real Estate Board is a non-profit organization with more than 9,000 members: real estate brokers. Its mission is to actively promote and protect its members’ professional interests in order for them to successfully meet their business objectives.

About Centris

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. Société Centris provides real estate industry stakeholders with access to real estate data and a wide range of technology tools. Centris also manages the collaboration system used by more than 13,000 real estate brokers in Québec.

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For September 2018 statistics charts, click here.

For year-to-date statistics charts, click here.


For further information: 

Nathalie Rochette
Assistant Manager, Communications and Public Relations
Greater Montréal Real Estate Board
Tel.: 514-762-2440, ext. 238
nathalie.rochette@cigm.qc.ca