“After being put to the test in January, the confidence of consumers in Québec in February reached a level almost equivalent to the one recorded in 2007. The short term decrease of interest rates definitely encouraged this renewal of confidence and is excellent news for the real estate market,” says Michel Beauséjour, FCA, Chief Executive Officer of the GMREB.
<TABLE cellSpacing=0 cellPadding=2 width=386 border=0><TBODY><TR><TD colSpan=3>MLS® Residential Statistics
Montréal Metropolitan Area - February 2008
</TD></TR><TR><TD colSpan=2> </TD><TD width=72>Variation
</TD></TR><TR><TD width=171>Active listings
New listings
Total sales
Single-family
Condominiums
Plex (2 to 5 dwellings)
Volume of sales
Median price
Single-family
Condominiums
Plex (2 to 5 dwellings)
</TD><TD width=119>25,177
7,913
4,500
2,783
1,269
409
$1,102,172,663
$220,000
$177,000
$330,000
</TD><TD>-3 %
+6 %
+3 %
-2 %
+18 %
-6 %
+8 %
+8 %
+4 %
+6 %
</TD></TR></TBODY></TABLE>Source: Greater Montréal Real Estate Board by Centris™
For the Montréal Metropolitan Region, 4,500 transactions were registered in the GMREB’s MLS® system for February 2008, a 3% increase when compared to the 4,379 sales in February 2007. Sales of single-family homes showed a slight decrease (-2%), and so did plexes (-6%).
On the geographic level, the Island of Montréal registered the best performance with a 9% rise of transactions in February. The South Shore and Vaudreuil-Soulanges followed close behind with respective increases of 5% and 4%. However, in the northern suburbs, the resale market was less active than last year with a 4% decrease in Laval and 6% on the North Shore.
On February 29, 2008, the number of active listings was declining by 3% when compared to the same date in 2007, with 25,177 properties for sale in the MLS® system. |