According to the latest residential real estate statistics from the Greater Montreal Real Estate Board (GMREB), condo sales in the Montreal Census Metropolitan Area (CMA) increased by three per cent, year-over-year, in February. Total residential sales, which includes single-family homes, plexes, and condominiums, reached 3,281 units in February, a figure representing no change from the year prior.
The most significant increase in sales was seen on the Island of Montreal, where sales rose eight per cent over figures recorded in February 2014. Laval and the South Shore also saw increased sales activity, with sales rising three and one per cent, respectively.
“In early 2015, similar to what we saw in the last months of last year, the areas of the Island of Montréal and the South Shore are much more dynamic,” says Diane Ménard, Vice President of the GMREB Board of Directors. “For January and February, the Island of Montréal (+1 per cent) and the South Shore (+2 per cent) were the two areas to post a growth in sales.”
The average price of a condominium in the Montreal area rose two per cent, year-over-year, in February, to $230,000.