fbpx
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
RankCities, municipalities or boroughsNumber of months of inventory
1City of Pointe-Claire (Montréal)2.6
2City of Kirkland (Montréal)2.8
3City of Beaconsfield (Montréal)2.9
4Neighbourhood of Côte-des-Neiges–Notre-Dame-de-Grâce (Montréal)3.0
5City of Montréal-Ouest (Montréal)3.2
6City of Dollard-des-Ormeaux (Montréal)3.2
7Area of Greenfield Park (Montérégie)3.3
8Neighbourhood of Île-des-Sœurs (Montréal)3.5
9City of Dorval (Montréal)3.6
10Rosemont–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 boroughsNumber 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
RankCities, municipalities or boroughsNumber of months of inventory
1Neighbourhood of Verdun (Montréal)3.3
2Borough of Rosemont–La Petite-Patrie (Montréal)4.5
3Borough of Saint-Léonard (Montréal)4.5
4Borough of Anjou (Montréal)4.6
5Borough of South West (Montréal)4.9
6City of Val-d’Or (Abitibi-Témiscamingue)5.0
7Borough of Côte-des-Neiges–Notre-Dame-de-Grâce (Montréal)5.2
8Borough of Mercier–Hochelaga-Maisonneuve (Montréal)5.6
9City of Rouyn-Noranda (Abitibi-Témiscamingue)5.7
10Area 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
RankMunicipality, city or boroughMedian price for 2017Variation
1City of Lac-Brome (Estrie)$354,00027%
2City of Dorval (Montréal)$390,00020%
3City of Beaconsfield (Montréal)$606,50018%
4City of Kirkland (Montréal)$556,00016%
5Borough of CDN–NDG (Montréal)$730,00015%
6City of Mont-Tremblant (Laurentides)$259,50015%
7Parish of Saint-Hippolyte (Laurentides)$212,25015%
8Municipality of Morin-Heights (Laurentides)$280,00014%
9City of Sainte-Thérèse (Laurentides)$294,85014%
10City of Lorraine (Laurentides)$369,90013%

 Chart 2

Increase in median price – condominiums
RankMunicipality, city or boroughMedian price for 2017Variation
1Town of Mount-Royal (Montréal)$402,50022%
2City of Saint-Lambert (Montérégie)$260,10012%
3Borough of Beauport (Capitale-Nationale)$180,00011%
4City of Sainte-Thérèse (Laurentides)$195,25010%
5City of Chambly (Montérégie)$194,7509%
6City of Candiac (Montérégie)$211,0009%
7City of Bromont (Montérégie)$232,8258%
8City of Dollard-des-Ormeaux (Montréal)$242,5008%
9City of La Prairie (Montérégie)$172,2508%
10City of Mont-Tremblant (Laurentides)$228,5008%

 Chart 3

Increase in median price – plexes
RankMunicipality, city or boroughMedian price for 2017Variation
1City of Saint-Jérôme (Laurentides)$306,13720%
2City of Saint-Hyacinthe (Montérégie)$269,00017%
3Borough of Plateau-Mont-Royal (Montréal)$775,00016%
4City of Sorel-Tracy (Montérégie)$150,00016%
5Borough of Lachine (Montréal)$385,50012%
6City of Salaberry-de-Valleyfield (Montérégie)$195,00011%
7City of Trois-Rivières (Mauricie)$155,00011%
8Area of Hull (Outaouais)$292,50010%
9Area of Chicoutimi (Saguenay)$193,00010%
10City of Drummondville (Centre-du-Québec)$187,50010%

 

 Most Expensive Areas For Single Family Homes

 

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

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

 

Most Expensive Areas For Condominiums

 

Most expensive areas – condominiums
RankMunicipality, city or boroughMedian price 2017
1City of Westmount (Montréal)$587,084
2Borough of Outremont (Montréal)$490,000
3Town of Mount-Royal (Montréal)$402,500
4Neighbourhood of Île-des-Sœurs (Montréal)$370,000
5Borough of Ville-Marie (Montréal)$352,000
6Borough of Plateau-Mont-Royal (Montréal)$340,500
7City of Côte-Saint-Luc (Montréal)$340,000
8City of Pointe-Claire (Montréal)$338,877
9Borough of Côte-des-Neiges–Notre-Dame-de-Grâce (Montréal)$335,000
10Borough 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-Ouest65
Borough of Saint-Laurent962
Borough of Ville-Marie1,713
Neighbourhood of Île-des-Soeurs435
City of Hampstead85
City of Dorval230
Borough of Mercier–Hochelaga-Maisonneuve1,229
Borough of Lachine453
Borough of Rosemont–La Petite-Patrie1,147
Borough of Côte-des-Neiges–Notre-Dame-de-Grâce980
Borough of Saint-Léonard285
Borough of South West1,110

 

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
[email protected]
No Comments

Post A Comment

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