Île-des-Soeurs, August 10, 2005 – There were 3,073 transactions recorded on the Greater Montréal Real Estate Board’s (GMREB) S.I.A.®/MLS® system in July 2005, representing a 4.6% increase when compared to 2,938 sales recorded the same month last year.
The sales volume was $633,3 million in July 2005, a 11.4% increase, compared to the $568,6 million volume recorded in July 2004. As of July 31, there was a total of 28,070 residential listings on the S.I.A.®/MLS® system, compared to 23,632 listings during the same period last year.
“We can say that home ownership is a priority for Greater Montreal area families, which is smart since their house is often their main financial asset. Moreover, that same asset has strengthened over the last few years and will continue to do so, since the market is strong and stable”, says Michel Beauséjour, FCA, GMREB Chief Executive Officer.
In July 2005, the average value of a single-family home in the Greater Montreal area was $201,000, compared to $198,000 in July 2004, a 1,5% increase. Here are the average prices of single-family homes sold in July 2005 when dividing the
territory into administrative regions:
Montreal: $308,000 (-4% compared to July 2004)
Laval: $207,000 (+9%)
Montérégie: $192,000 (+9%)
Laurentians: $176,000 (+1%)
Lanaudière: $142,000 (+12%)
This is not necessarily a true indication of the actual price of single-family homes in all sectors of the Greater Montreal area, but rather an indication of the trend in the average cost of properties located in the areas covered by the GMREB.
The Greater Montréal Real Estate Board is a non-profit organization and has more than 8,500 members, real estate brokers and agents. It is the third most important board in Canada and its mission is to actively promote and protect its members’ professional andbusiness interests in order for them to successfully meet their business objectives.
For further information: Linda Grondin
Assistant Director,
Communications, Industry Relations and Legal Affairs
Greater Montréal Real Estate Board
www.gmreb.qc.ca
Tel.: (514) 762-2181, extension 130
E-mail: linda.grondin@gmreb.qc.ca
