The Greater Montréal Real Estate Board (GMREB) has released its most recent residential sales statistics for the Island of Montreal, based on the real estate brokers’ Centris provincial database.

In total, 3 987 residential sales were concluded in the third quarter of 2018, a 3 per cent increase compared to the third quarter of 2017.

Single-family active listing are down to 2 040 units which is a 3% decrease from the third quarter of 2017.

Condominium active listing are down to 1 399 units which is identical as in the third quarter of 2017.

Median prices continued to rise across the Island of Montreal, for single-family homes ($491 500) a 8% increase compared to the third quarter of 2017. Which totalizes a 25% increase on a 5 year period.

Prices also continued to rise across the Island of Montreal, for condominiums ($325 000) a 8% increase compared to the third quarter of 2017. Which totalizes a 13% increase on a 5 year period.