27 May Montreal’s Latest Real Estate Housing Data
Montreal’s Latest Real Estate Housing Data
Montreal’s latest real estate housing data by neighborhood, housing category, days on market, average sale price and inventory levels from January to April 30th 2021.
Each neighborhood in Montreal is a universe unto itself. There really isn’t a single housing market in the city. If you peer under the hood you’ll discover that each area is a micro neighborhood with it’s own market data. Even buildings that are side by side one other in an area like Griffintown can have a completely different market and real estate story happening within. Condos are best analyzed via the building itself, and homes, via the street. The Montreal market is still extremely active and in high demand. Low inventories continue to drive prices higher as well as the solid trend in the desire for more space. These are some neighborhoods with the latest sales data from January 2021 – April 30th 2021. If you don’t see the neighborhood that you’re interested in the charts below, don’t hesitate to contact me in the contact form below. Let me know which neighborhood you’re most interested in and would like to have the data for.
Despite the hot housing market which is trend currently being seen all across North America, Montreal’s housing market is still more affordable compared to other major Canadian markets. What does a half a million dollars buy you in Toronto and Vancouver? In Toronto you would most likely be able to buy a yurt, and in Vancouver, a Johnny outhouse. At least here in Montreal you would be able to buy some category of housing within the Island of Montreal.
“Even as homes in Montreal become more expensive, the fundamentals of the market remain “really strong,” Girard said, noting that prices are still much cheaper than in cities like Toronto and the economy is enjoying a strong recovery. “It’s still an affordable city,” he said.
The median price for a detached house climbed 18 per cent in metropolitan Montreal last year and was up 31 per cent in the four months through April, to $473,000 (US$391,000), according to the Quebec Professional Association of Real Estate Brokers. Condo price increases weren’t far behind, up 23 per cent.”
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The hot Montreal housing market was just added to the Bank of Canada’s watch list, but the Quebec government isn’t worried, at least not yet. Low interest rates and a pandemic-led rush for extra space have dramatically pushed up prices for residential real estate, and the Quebec government is “paying close attention,” Finance Minister Eric Girard said in an interview.
Data via Centris
Montreal Market Charts
Home purchases and sales in the Metro Montreal areas. Includes single-family detached houses, townhouses, and condo apartment data.
Benchmark Single Family Detached House Price
Purchases, Sales and Active Listings
Benchmark Condo Apartment Price
Condo Purchases, Sales, vs. Active Listings
Townhouse Purchases, Sales, and Active Listings
Two-year Forecast of Metro Calgary home prices.
Bank regulator pitches higher mortgage stress test level, making it harder to qualify for a home loan | CBC News
Canada’s top banking regulator is proposing to raise the mortgage stress test level to 5.25 per cent or two percentage points above the market rate, whichever is higher, making it harder to qualify for a home loan, shrinking the pool of qualified borrowers and ultimately bringing down house prices.