December 2011: Year Ends With an Increase in Sales

Île-des-Sœurs, January 24, 2012 – MLS^® sales in the Montréal Metropolitan Area increased by 7 per cent in December 2011 compared to December 2010, according to the Greater Montréal Real Estate Board (GMREB). This was the seventh consecutive monthly increase in existing-home sales.

Among the main geographic areas, Vaudreuil-Soulanges led the way with a 39 per cent increase in sales. Sales increased by 28 per cent on the North Shore, by 9 per cent in Laval and by 2 per cent on the South Shore. Only the Island of Montréal registered a decrease in sales, at 4 per cent.

Sales increased for all property categories. Sales of single-family homes topped the list in December with an 8 per cent increase, followed by condominiums at 6 per cent and plexes at 3 per cent.

In terms of prices, single-family homes posted a 1 per cent decrease in median price compared to December 2010 to reach $260,000. The median price of condominiums increased by 2 per cent to reach $222,000, while that of plexes grew by 5 per cent, reaching $405,950.

The number of active listings throughout the Montréal Metropolitan Area increased by 13 per cent compared to December of last year. In total, close to 23,000 residential properties were available to buyers in December. The South Shore stood out with the largest increase in number of active listings (+22 per cent), but all other areas also registered an increase. By property category, the number of condominium listings grew by 21 per cent, the number of plex listings grew by 17 per cent and that of single-family homes by 12 per cent.

About the Greater Montréal Real Estate Board

The Greater Montréal Real Estate Board is a non-profit organization that brings together most of the real estate brokers who work in the Greater Montréal area. With more than 10,500 members, it is the second largest board in Canada. Its mission is to actively promote and protect its members\' professional and business interests in order for them to successfully meet their business objectives and maintain their predominance in the real estate industry.





For further information:
Chantal de Repentigny
Assistant Director
Communications and Industry Relations
Phone: 514-762-2440 begin_of_the_skype_highlighting 514-762-2440 end_of_the_skype_highlighting, extension 130
chantal.derepentigny@gmreb.qc.ca