Canada NewsWire
L'ÎLE-DES-SŒURS, QC, July 16, 2018
L'ÎLE-DES-SŒURS, QC, July 16, 2018 /CNW Telbec/ - The Greater Montréal Real Estate Board (GMREB) has released its most recent residential sales statistics for the Montréal Census Metropolitan Area (CMA), based on the real estate brokers' Centris provincial database. In total, 14,771 residential sales were concluded in the second quarter of 2018, a 4 per cent increase compared to the second quarter of last year.
Here are the Q2 highlights:
Sales
Median price
Active listings
"Residential sales in the Montréal CMA have been increasing for four years now," said Mathieu Cousineau, President of the Board of Directors of the Greater Montréal Real Estate Board (GMREB) and spokesperson for the Québec Federation of Real Estate Boards in the Montréal area. "This sustained pace of sales, combined with the steady decline in the number of properties for sale, gives sellers an increasingly advantageous position in negotiations," he added.
Province of Québec: A Second Quarter of Record-Setting Sales
The Québec Federation of Real Estate Boards (QFREB) has released its most recent residential real estate market statistics for the province of Québec, based on the real estate brokers' Centris provincial database. In total, 27,037 sales were concluded in the second quarter of 2018, setting a new second-quarter record. This was also a 6 per cent increase in sales compared to the second quarter of last year.
"This now makes sixteen consecutive quarters that residential sales have increased in Québec," said Paul Cardinal, Manager of the QFREB's Market Analysis Department. "This is only the second time since statistics have been compiled that there's been such a long streak of sales increases," he added.
Here are some of the highlights for the second quarter of 2018.
Sales
Active listings
Prices
Finally, properties that sold in the second quarter of 2018 found a buyer faster than they did one year ago. Single-family homes sold in an average of 105 days, 8 days less than in the second quarter of 2017.
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 the Québec Federation of Real Estate Boards
The Québec Federation of Real Estate Boards is a non-profit organization composed of Québec's 11 real estate boards and the close to 13,000 real estate brokers who are their members. Its mission is to support Québec's real estate boards in order to defend, protect and promote the interests of real estate brokers through the provision of services in the areas of professional practices, public affairs and market analysis. The QFREB is guided by an approach that is centred on collaboration and resource sharing.
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 more detailed statistics on the Montréal area, read the QFREB Barometer.
SOURCE Québec Federation of Real Estate Boards
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