ILE-DES-SOEURS, March 6 /CNW Telbec/ - According to statistics published by the Greater Montréal Real Estate Board (GMREB), the total sales dollar volume of units sold passed the $1 billion mark in February 2006, totalling $1.02 billion. That is a 10% increase compared to $932 million recorded in February 2005 on the S.I.A.(R)/MLS(R) System.
Moreover, 4,978 sales were registered in February 2006, up by 4% when compared to the 4,803 sales for the same time period a year ago.
As of February 28, there were 35,699 residential listings on the S.I.A.(R)/MLS(R) System, while there were 31,712 at the same time last year. Also, 9,706 new listings were entered in our system in February 2006, an increase of 8% compared to the 9,015 new listings entered in February 2005.
"All indicators point to another strong year for real estate in 2006," says Michel Beauséjour, FCA, GMREB Chief Executive Officer. "The increase in sales in February tells us that desire for home ownership remains very strong."
With spring fast approaching, the real estate market is entering its busiest period. The GMREB encourages buyers and sellers to get their copy of the guide "Real Estate - Tips on Buying and Selling". This 32-page magazine is jam-packed with insightful articles on such topics as buying a first home, the pitfalls to avoid as a new buyer, the importance of buying or selling first, the real estate agent's compensation, the second homes market, buying a condo or a plex, and much more. Please note that this guide is distributed exclusively by real estate agents who are members of the GMREB.
Average price
In February 2006, the average price of single-family homes was $204,000 in Greater Montreal, up by 5% when compared to $195,000 in February 2005.
Zone (Average price - single-family) Variation for 2005-2006: Montréal ($312,000) +4%; Laval ($214,000) +10%; Montérégie ($191,000) +5%; Laurentians ($188,000) +8%; Lanaudière ($151,000) +5%
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.
About the GMREB
The Greater Montréal Real Estate Board is a non-profit organization and has more than 9,000 members, real estate brokers and agents. It is the second most important board in Canada and its mission is to actively promote and protect its members' professional and business interests in order for them to successfully meet their business objectives.
Greater Montréal Real Estate Board Statistics - Sales Volume Exceeds $1 billion for the first time in February
