Montreal Real Estate Prices Decline in December 2013

The Montreal released it's housing report today and it shows that residential sales statistics for the Montréal Census Metropolitan Area (CMA). According to the real estate brokers' Centris® provincial database, 2,029 residential sales transactions were concluded in December 2013, a 3 per cent decrease compared to December of last year.

"The month of December performed like the average of the previous months," said Diane Ménard, Vice-President of the GMREB Board of Directors. "We believe we are still feeling the impact of the new mortgage insurance rules that came into force in the summer of 2012," she added. All three property categories registered a decrease in sales across the CMA in December 2013 compared to December 2012.

Duplex Homes registered the largest drop, at 10 per cent. Geographically, the Island of Montréal and Vaudreuil-Soulanges were the only two areas to register an increase in sales in December 2013, at 1 per cent and 46 per cent, respectively.