Though overall sales saw a 2 per cent dip over July, single family homes came out as the top performers in the Montreal housing market. New numbers from the Greater Montreal Real Estate Board (GMREB) revealed that among the 2,564 residential sales, 751 were condo transactions and 1,560 were single-family home sales.
Single-family homes sales grew by 3 per cent compared to July 2012, the first increase in a full year.
“The increase in single-family home sales in July was interesting to observe,” said Diane Menard, Vice-President of the GMREB Board of Directors in the news release.
“It does not yet represent widespread sales growth, as the increase in single-family home sales was primarily due to strong performances on the North Shore (+10 per cent) and on the Island of Montréal (+7 per cent).”
Sales of multi-plexes saw no measurable change, but condo sales saw a significant drop of 13 per cent compared to July 2012.
For pricing, the median price of single-family homes grew by 3 per cent to $283,000, while condo values fell by 2 per cent to $228,000 and plexes decreased by 5 per cent to $419,500 in July 2013.
For more details see the charts below…