Montréal Real Estate Market: Best September on Record

Île-des-Soeurs, October 7, 2009 – Sales in the Montréal Metropolitan Area increased by 5 per cent in September 2009 compared to September 2008, according to the Greater Montréal Real Estate Board's MLS® statistics. Property prices also continued to climb, with a 7 per cent increase in median price for single-family homes.

"September 2009 was the best September on record for the Montréal market. We're seeing a balanced market now, so both buyers and sellers are benefiting," said Michel Beauséjour, FCA, Chief Executive Officer of the GMREB.

In terms of sales, single-family homes led the way with an 8 per cent increase in September 2009 compared to the same month last year, while condominium and plex sales increased by 1 and 3 per cent, respectively.

As for prices, the median price of single-family homes and condominiums increased by 7 per cent in September 2009 compared to September 2008. Plexes also stood their ground, with a 5 per cent increase in median price.

"Montréal's real estate prices have continued to increase slowly but steadily, once again confirming that Montreal is not only a desirable place to live, but also a solid investment so far as real estate is concerned," added Mr. Beauséjour.

Geographically, the Vaudreuil-Soulanges area stood out in September 2009 with a 40 per cent increase in sales compared to September 2008. The Island of Montréal and the South Shore also turned in strong performances, as sales in both of these areas increased by 9 per cent. The number of transactions increased by 3 per cent in Laval and decreased by 9 per cent on the North Shore.

As at September 30, 2009, the number of active listings on the MLS® system decreased by 7 per cent in comparison with the same date last year.

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 and agents who work in the Greater Montréal area. With close to 10,000 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 September 2009 statistics charts, click here.
For year-to-date statistics charts, click here.

The Greater Montréal Real Estate Board publishes its MLS® sales statistics by Montréal Metropolitan Area territory, as defined by Statistics Canada during the last census. The list of municipalities that make up this territory is available at www.statcan.ca.
In addition, the Greater Montréal Real Estate Board uses the median price to measure the evolution of property prices. The median price is the middle price, in other words, half of the transactions had a lower price and the other half had a higher price.

MLS® Residential Statistics for the Montréal Metropolitan Area (2009, October 7) Montreal Real Estate Market: Best September on Record [Press Release]. Retreived from <http://extranet.centris.ca/MONTREAL/Upload/STATSMLS_SEPTEMBER2009.pdf>