Centris® Residential Sales Statistics - March 2018 - Montréal's Residential Real Estate Market Remains Strong in March

L'ÎLE-DES-SŒURS, QC, April 6, 2018 /CNW Telbec/ - 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, 5,656 residential sales were concluded in March 2018, a 6 per cent increase compared to March of last year. This was the 37th consecutive increase in sales and the best month of March in eight years. Click here to watch the March 2018 statistics video.

Sales by geographic area 

• Four of the six main areas of the Montréal CMA registered an increase in residential sales in March: the South Shore (+10 per cent), Laval (+9 per cent), the Island of Montréal (+7 per cent) and the North Shore (+6 per cent).
• In contrast, sales fell in the areas of Vaudreuil-Soulanges (-10 per cent) and Saint-Jean-sur-Richelieu (-9 per cent).

Sales by property category

• While sales of single-family homes remained unchanged, sales of plexes (2 to 5 dwellings) increased by 3 per cent, registering their best month of March since 2010.
• However, as has been the case for several months, condominiums stole the spotlight once again with a strong sales increase of 19 per cent in March. The South Shore particularly stood out, as condo sales jumped by 37 per cent.

"The condominium resale market is booming in the Montréal area," said Mathieu Cousineau, President of the GMREB Board of Directors. "Not only did we just break the record for the number of transactions in a month of March, but this was also the 11th consecutive month that condominium sales growth has surpassed 10 per cent," he added.  

Prices

• The median price of single-family homes across the Montréal CMA stood at $314,900 in March, up 5 per cent compared to March of last year.
• The median price of condominiums remained unchanged, as half of all units sold for more than $240,000.
• Plexes registered the largest increase, as their median price jumped by 9 per cent to reach $495,000.

Number of properties for sale

In March, there were 26,395 active residential listings in the Centris® system, a 16 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.

For March 2018 statistics charts, click here.

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

SOURCE Greater Montréal Real Estate Board