Montreal Real Estate – A recent forecast that the Greater Montreal Area will remain the leading Canadian city in terms of home price appreciation in 2019, with an estimated increase of 3.0 per cent, compared to a slight 1.3 per cent price increase in the Greater Toronto Area and 0.6 per cent in Greater Vancouver.
As many economists forecasted, the Bank of Canada kept its overnight rate at 1.75 per cent on January 9th, and this pause in rate hikes is expected to be the norm for the first half of the year, benefiting affordability. On the other hand, the steady rise in home prices in the metropolitan area and the ongoing competitiveness of the market suggest that prices will continue to rise in 2019.
“Greater Montreal will remain a sellers’ market in 2019, and likely longer. The Montreal market is very active due to its affordability compared to other Canadian cities and unprecedented economic conditions, including rising wages,” he concluded.
House Price Survey Data
Greater Montreal Area – Fourth Quarter 2018
|
Two-Storey Homes |
|||
|
Q4 2018 Median |
Change |
Change |
|
|
Laval |
$438,575 |
0.5% |
5.1% |
|
Montreal Centre |
$789,423 |
1.1% |
3.7% |
|
Montreal East |
$480,638 |
1.0% |
1.5% |
|
Montreal West |
$522,701 |
0.4% |
1.0% |
|
North Shore Montreal |
$401,275 |
1.1% |
-0.2% |
|
South Shore Montreal |
$463,228 |
-0.5% |
7.1% |
|
Greater Montreal |
$517,190 |
0.6% |
3.5% |
|
Bungalow |
|||
|
Q4 2018 Median |
Change |
Change |
|
|
Laval |
$328,658 |
2.9% |
5.9% |
|
Montreal Centre |
$483,634 |
3.3% |
7.9% |
|
Montreal East |
$362,907 |
2.7% |
5.6% |
|
Montreal West |
$403,752 |
1.6% |
11.1% |
|
North Shore Montreal |
$271,476 |
0.6% |
2.9% |
|
South Shore Montreal |
$309,712 |
0.3% |
4.6% |
|
Greater Montreal |
$315,257 |
1.2% |
5.1% |
|
Condominium/Apartment |
|||
|
Q4 2018 Median |
Change |
Change |
|
|
Laval |
$252,886 |
1.4% |
3.7% |
|
Montreal Centre |
$399,251 |
1.4% |
6.0% |
|
Montreal East |
$311,930 |
2.6% |
3.4% |
|
Montreal West |
$277,537 |
1.3% |
1.8% |
|
North Shore Montreal |
$222,715 |
0.8% |
1.4% |
|
South Shore Montreal |
$243,178 |
1.2% |
5.2% |
|
Greater Montreal |
$328,254 |
1.5% |
4.9% |
|
Aggregate |
|||
|
Q4 2018 Median |
Change |
Change |
|
|
Laval |
$366,156 |
1.3% |
5.2% |
|
Montreal Centre |
$541 843 |
1.3% |
4.9% |
|
Montreal East |
$394,891 |
1.7% |
2.7% |
|
Montreal West |
$457,179 |
0.7% |
2.9% |
|
North Shore Montreal |
$317,123 |
0.9% |
1.2% |
|
South Shore Montreal |
$369,677 |
-0.1% |
6.1% |
|
Greater Montreal |
$407,230 |
0.9% |
4.1% |
