Montreal Housing Prices

Montreal Housing Prices

Montreal Housing Prices

Montreal housing prices show that certain areas in Montreal really stood out for their strong sales increases or price growth in 2017.  Here are some interesting stats via the QFREB / Centris

Chart 1

The ten neighborhoods with the lowest amount of inventory (measured in months) for single family homes in 2017

 

Market conditions – single-family homes
Rank Cities, municipalities or boroughs Number of months of inventory
1 City of Pointe-Claire (Montréal) 2.6
2 City of Kirkland (Montréal) 2.8
3 City of Beaconsfield (Montréal) 2.9
4 Neighbourhood of Côte-des-Neiges–Notre-Dame-de-Grâce (Montréal) 3.0
5 City of Montréal-Ouest (Montréal) 3.2
6 City of Dollard-des-Ormeaux (Montréal) 3.2
7 Area of Greenfield Park (Montérégie) 3.3
8 Neighbourhood of Île-des-Sœurs (Montréal) 3.5
9 City of Dorval (Montréal) 3.6
10 Rosemont–La Petite-Patrie (Montréal) 3.8

 Chart 2

The ten neighborhoods with the lowest amount of inventory (measured in months) for condominiums in 2017

 

Market conditions – condominiums
Cities, municipalities or boroughs Number of months of inventory
Borough of Outremont (Montréal) 5.4
City of Dollard-des-Ormeaux (Montréal) 5.5
Borough of Rosemont–La Petite-Patrie (Montréal) 5.8
City of Boucherville (Montréal) 6.2
Neighbourhood of Verdun (Montréal) 6.2
Borough of Plateau-Mont-Royal (Montréal) 6.4
Borough of South West (Montréal) 6.7
Borough of Anjou (Montréal) 7.4
City of Vaudreuil-Dorion (Montérégie) 7.6
Neighbourhood of Île-des-Sœurs (Montréal) 7.7

 Chart 3

The ten neighborhoods with the lowest amount of inventory (measured in months) for plexes in 2017

 

Market conditions – plexes
Rank Cities, municipalities or boroughs Number of months of inventory
1 Neighbourhood of Verdun (Montréal) 3.3
2 Borough of Rosemont–La Petite-Patrie (Montréal) 4.5
3 Borough of Saint-Léonard (Montréal) 4.5
4 Borough of Anjou (Montréal) 4.6
5 Borough of South West (Montréal) 4.9
6 City of Val-d’Or (Abitibi-Témiscamingue) 5.0
7 Borough of Côte-des-Neiges–Notre-Dame-de-Grâce (Montréal) 5.2
8 Borough of Mercier–Hochelaga-Maisonneuve (Montréal) 5.6
9 City of Rouyn-Noranda (Abitibi-Témiscamingue) 5.7
10 Area of Laval-des-Rapides (Laval) 5.7

Source: QFREB by the Centris® system. Minimum of 50 transactions.

 

Price Increases

 

Generally, like most rules of supply and demand, lower monthly inventories translate into higher prices and areas with a seller’s market. The areas with the largest median price growth were:

Chart 1

Increase in median price – single-family homes
Rank Municipality, city or borough Median price for 2017 Variation
1 City of Lac-Brome (Estrie) $354,000 27%
2 City of Dorval (Montréal) $390,000 20%
3 City of Beaconsfield (Montréal) $606,500 18%
4 City of Kirkland (Montréal) $556,000 16%
5 Borough of CDN–NDG (Montréal) $730,000 15%
6 City of Mont-Tremblant (Laurentides) $259,500 15%
7 Parish of Saint-Hippolyte (Laurentides) $212,250 15%
8 Municipality of Morin-Heights (Laurentides) $280,000 14%
9 City of Sainte-Thérèse (Laurentides) $294,850 14%
10 City of Lorraine (Laurentides) $369,900 13%

 Chart 2

Increase in median price – condominiums
Rank Municipality, city or borough Median price for 2017 Variation
1 Town of Mount-Royal (Montréal) $402,500 22%
2 City of Saint-Lambert (Montérégie) $260,100 12%
3 Borough of Beauport (Capitale-Nationale) $180,000 11%
4 City of Sainte-Thérèse (Laurentides) $195,250 10%
5 City of Chambly (Montérégie) $194,750 9%
6 City of Candiac (Montérégie) $211,000 9%
7 City of Bromont (Montérégie) $232,825 8%
8 City of Dollard-des-Ormeaux (Montréal) $242,500 8%
9 City of La Prairie (Montérégie) $172,250 8%
10 City of Mont-Tremblant (Laurentides) $228,500 8%

 Chart 3

Increase in median price – plexes
Rank Municipality, city or borough Median price for 2017 Variation
1 City of Saint-Jérôme (Laurentides) $306,137 20%
2 City of Saint-Hyacinthe (Montérégie) $269,000 17%
3 Borough of Plateau-Mont-Royal (Montréal) $775,000 16%
4 City of Sorel-Tracy (Montérégie) $150,000 16%
5 Borough of Lachine (Montréal) $385,500 12%
6 City of Salaberry-de-Valleyfield (Montérégie) $195,000 11%
7 City of Trois-Rivières (Mauricie) $155,000 11%
8 Area of Hull (Outaouais) $292,500 10%
9 Area of Chicoutimi (Saguenay) $193,000 10%
10 City of Drummondville (Centre-du-Québec) $187,500 10%

 

 Most Expensive Areas For Single Family Homes

 

Most expensive areas – single-family homes
Rank Municipality, city or borough Median price 2017
1 City of Westmount (Montréal) $1,550,000
2 Borough of Outremont (Montréal) $1,377,500
3 City of Hampstead (Montréal) $1,149,000
4 Town of Mount-Royal (Montréal) $1,129,000
5 Neighbourhood of Île-des-Sœurs (Montréal) $852,500
6 Borough of Plateau-Mont-Royal (Montréal) $794,000
7 Borough of Ville-Marie (Montréal) $787,500
8 Borough of Côte-des-Neiges–Notre-Dame-de-Grâce (Montréal) $730,000
9 City of Montréal-Ouest (Montréal) $700,000
10 City of Beaconsfield (Montréal) $606,500

Source: QFREB by the Centris® system. Minimum of 50 transactions.

 

Most Expensive Areas For Condominiums

 

Most expensive areas – condominiums
Rank Municipality, city or borough Median price 2017
1 City of Westmount (Montréal) $587,084
2 Borough of Outremont (Montréal) $490,000
3 Town of Mount-Royal (Montréal) $402,500
4 Neighbourhood of Île-des-Sœurs (Montréal) $370,000
5 Borough of Ville-Marie (Montréal) $352,000
6 Borough of Plateau-Mont-Royal (Montréal) $340,500
7 City of Côte-Saint-Luc (Montréal) $340,000
8 City of Pointe-Claire (Montréal) $338,877
9 Borough of Côte-des-Neiges–Notre-Dame-de-Grâce (Montréal) $335,000
10 Borough of Rosemont–La Petite-Patrie (Montréal) $309,000

Source: QFREB by the Centris® system. Minimum of 50 transactions.

 

Montreal Areas That Set A New Residential Sales Record:

 

 

 

 

 

 

Montréal

City of Montréal-Ouest 65
Borough of Saint-Laurent 962
Borough of Ville-Marie 1,713
Neighbourhood of Île-des-Soeurs 435
City of Hampstead 85
City of Dorval 230
Borough of Mercier–Hochelaga-Maisonneuve 1,229
Borough of Lachine 453
Borough of Rosemont–La Petite-Patrie 1,147
Borough of Côte-des-Neiges–Notre-Dame-de-Grâce 980
Borough of Saint-Léonard 285
Borough of South West 1,110

 

Source: QFREB by the Centris® system. Minimum of 100 transactions for single-family homes and minimum of 50 transactions for condominiums and plexes.

***Some areas may have had an exceptional year in 2017 but are not included in these lists because of an insufficient number of sales.

 

Bonnie Meisels
buymontrealrealestate@gmail.com
No Comments

Post A Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Optimization WordPress Plugins & Solutions by W3 EDGE