Montreal Real Estate Blog » Montreal Market Report

December 2011: Year Ends with More Sales

Deya Bautista — Thu, 02 Feb 2012 13:03:49 +0000

December marks the 7th consecutive monthly increase in existing-home sales. Compared to sales from December 2010, in 2011 there were 7% more sales according to the Greater Montréal Real Estate Board (GMREB).

From all the areas that had increases; Vaudreuil-Soulanges (+39%), North Shore (+28%), Laval (+9%) and the South Shore (+2%). Only the Island of Montréal had a decrease in sales (-4%).

Sales increased for all property categories.

Single-family homes 8%
Condominiums 6% and
Plexes 3%.

In terms of prices…

Single-family homes had a decrease in median price (-1%) to reach $260,000.
The median price of condominiums increased by 2% to reach $222,000,
Median price of Plexes went up by 5%, reaching $405,950.

In a nutshell, The Island of Montreal had more listings and less sales in December 2011.

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Posted By: Deya Bautista - Real Estate Broker working as part of the McGill Immobilier team. Specializing in high end condos in downtown and Old Montreal. For buying or selling contact Deya at: 514.917.7889 http://montrealrealestateblog.com/

How’s the Market? Montreal Sales and Prices November 2011

Deya Bautista — Mon, 12 Dec 2011 15:40:41 +0000

http://www.youtube.com/watch?v=mKp12Mv-oFs

The november numbers are out already!

This time from the Montreal Real Estate Board. We had 3% more sales than in Nov 2010.
All property types had sales increase and prices went up by 4%.

Watch the video to get the details. I’m still working on the transcript!
If you’re not able to watch the video from your email, here is the permalink:

http://montrealrealestateblog.com/market-stats-nov2011/

Keeping track of the Market? Subscribe to the Montreal Real Estate Blog for free updates!

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How’s The Market? Provincial Third Quarter Update

Deya Bautista — Mon, 31 Oct 2011 11:04:15 +0000

Good morning Montreal!

Nothing like a monday morning market and sale s chart to start your week of :)

To give you a wider perspective on the quarterly market update:
Montreal had 7,796 sales transactions, representing a 4% increase than last year’s quarterly sales.
Median prices (houses) reached $270,000, translating into 6% more than last year’s.

And overall, it was Quebec City who had the most action in the resale market: 7% more sales, and a price increase of 5%. Their homes are still considerable affordable at 227,000. Which is almost imposible to find now here in the island.

That’s it for now. We’ll be waiting for the new monthly stats and I will keep you posted!

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Market Update: September Condo Sales Stayed Strong

Deya Bautista — Mon, 24 Oct 2011 11:35:27 +0000

The Greater Montreal Real Estate Board (GMREB) released the latest numbers, comparing last’s years market performance and price increases to this year’s.
September 2011 had 1% more sales than September last year. Condos had 8% more sales, but the single family homes and plexes were down in sales.

They also mentioned that sales were down on the North and South Shore respectively. With all the traffic and problems with infrastructure happening, it was expected to hear the south shore isn’t doing so well in sales.

But back to the main topic, and as it has been for the past few months. The condo market it’s still on the lead:

“Once again, the increase in sales in the Montréal Metropolitan Area can be attributed to the performance of condominiums. Sales of condominiums were particularly vibrant in Laval (+40 per cent) and on the Island of Montréal (+10 per cent).

Now, let’s talk prices….

The median prices have increased (of course) and here are the numbers:

Single Family homes: $266,750 – 6% more than last year.
Condos: $220,000 – an increase of 2%
Plexes; $400,000 – a 6% increase.

Now, if you see the condo’s increase it is only by 2%- price wise, but the sales were up for a lot more than that.

Looking to sell your condo? Contact me for a free appraisal!

Click here to view the complete article from GMREB

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How’s the market: June and July’s Report

Deya Bautista — Mon, 22 Aug 2011 11:30:24 +0000

We had had quite a busy summer this year. Although earlier on it was said that 2011 would not be as busy as last year’s summer in terms of sale, it turned out to be a little better than expected.

June had 5% more sales than the year before and last month’s sales were not lagging behind either. According to the Montreal Real Estate Board, 13% more sales were done this year in July compared to 2010′s. Also, condos continue to take the lead with 19% more units sold than in 2010.

Thinking about selling your condo? Contact me for a free appraisal.

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Montreal Market Report: Condo Sales Pick Up in May

Deya Bautista — Thu, 16 Jun 2011 12:45:49 +0000

MLS® Residential Statistics for the Montréal Metropolitan Area

“There were 4,186 MLS® sales transactions in the Montréal Metropolitan Area in May 2011, a 4 per cent decrease compared to May 2010, according to the Greater Montréal Real Estate Board (GMREB). Despite this slight decrease in real estate activity, condominium sales actually increased by 4 per cent in May. ”

While sales decreased by 5% on the Island of Montréal, condominium sales increased by 6%. The most active areas, in term of sales were the following:

Rosemont/Villeray +29% (more sales than last year)
Le Plateau +21%
South-West +16%

In Laval, there was a decrease of 14%(overall) but the condo sale remained stable. Also in the South Shore, condo sales were up by 6%

Median Prices Went Up

In Montreal, condo’s median price reached $220,739, a 7% increase compared to May 2010. The median price of single-family homes reached $266,500, a 4% increased while that of plexes remained stable at $390,000.

And, there was 19% more listings this May than it was last year’s.

These are great news for both buyers and sellers. There has been talk about a slowing down of the market, but even if the sales are not as string as last year’s, the condo market remains untouched.

Looking to sale your condo? Contact me for a free market evaluation.

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Re/Max Fall Market Report: Strong Sellers Market in Montreal

Deya Bautista — Wed, 06 Oct 2010 15:19:48 +0000

Good news for the Montreal Market. Despite all the hype on the housing bubble and slowing of sales across the country, we have just got a couple of articles published by the gazette informing us about the very optimistic Re/Max Falll Market Report, which displays a very healthy market for sellers, an increase of the home average price and a market driven by first-time buyers.

Montreal is the country’s only strong market for property sellers, with balanced conditions emerging as the norm in most of Canada’s large cities, says the Re/Max fall market trends report published yesterday.

Despite softer sales during the summer months, a three-per-cent decrease in active inventory year over year has bolstered prices, the report says. Year to date (until August)

In a nutshell:

The average price of a residential property in Montreal grew 8.7% – From $266,125 in 2009 to $288,923 to this year.
Sales of properties priced from $200,000 to $350,000 are moving quickly, with first-time buyers a driving market force.
The shortage of resale inventory at this price point has prompted several new construction projects targeting first-time buyers.

“Buoyed by solid economic fundamentals, Canada’s second-largest centre also has one of the greatest affordability levels,” the report says. “Yet home-ownership rates are low due to the high percentage of renters. As such, there is tremendous room for growth in the years ahead.”

Also:

Sales of high-end real estate also soared in Montreal, with properties worth $1 million and over rising 20 per cent year over year. Yet Montreal’s high-end niche has actually grown more slowly than upscale real-estate markets in other Canadian cities. Sales of high-end homes in Toronto, for example, were up more than 52 per cent, year over year, the report says.

Source: The Montreal Gazette

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