Thursday, 16 January 2014

Montreal Single Family Home Sales Median Price Increases in December 2013

The median price of single-family homes across the CMA rose by 5 per cent in December 2013 to reach $285,000. With the exception of Laval, which registered a 2 per cent decrease, the median price of single-family homes increased by 2 per cent on the South Shore and in Vaudreuil-Soulanges, by 3 per cent on the North Shore and by 6 per cent on the Island of Montréal which was a strong end to the year following sharp decreases in September (-8 per cent) and in November (-5 per cent).

The median price of condominiums, at $230,000, fell by 4 per cent across the Metropolitan Area. Market conditions for single-family homes remained balanced across the CMA. Vaudreuil-Soulanges was the only area where buyers had the upper hand in the single-family home market, while Laval was the only area where sellers had the advantage. Average selling times, compared to December of last year, increased by 11 days for single-family homes, by 15 days for condominiums, and by 12 days for plexes. As at December 31, 2013, there were 27,899 active listings in the Centris® system, up 10 per cent compared to the same period last year and the 40th consecutive monthly increase.

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