Île-des-Soeurs, April 4, 2006 – A total of 14,425 residential sales were recorded on the Greater Montréal Real Estate Board (GMREB) S.I.A.®/MLS® System in the first quarter of 2006, which makes it the second best quarter of all time after 2002, when 16,024 sales were closed.According to statistics published by the GMREB, the average price of a single-family home for the first three months of 2006 was $207,000, compared to $195,000 at the same time a year ago, which is a 6% increase.
The total sales dollar volume of units sold for the first quarter of 2006 was $2.98 billion, an 11% increase compared to the previous record of $2.68 billion set in 2005. “The number of units sold confirms that the market remains strong and, as we had predicted earlier this year, price increases have stabilized,” says Michel Beauséjour, FCA, GMREB Chief Executive Officer. March 2006 As of March 31, there were 36,642 residential listings on the S.I.A.®/MLS® System, while there were 32,323 at the same time last year. Also, 10,697 new listings were entered in our system in March 2006, an increase of 13% compared to the 9,479 new listings entered in March 2005. “That’s good news for sellers because the market is still very active, and also for buyers because the number of active listings keeps increasing, which gives them a broader choice of properties,” adds Michel Beauséjour. According to GMREB statistics, the average price of single-family homes was $211,000 in March 2006, up by 6% when compared to $199,000 in March 2005.
This is not necessarily a true indication of the actual price of single-family homes, but rather an indication of the trend in the average cost of properties located in the areas covered by the GMREB. About the GMREB |
