Bidding wars are heating up in Montreal

by Steve Randall25 Jan 2019

Montreal is one of the stars of the Canadian real estate market right now but even as the market heats up, not all areas are putting sellers in control.

A new report from Shupilov Real Estate reveals that the Montreal market overall does favour sellers with a competitive buying atmosphere, rising prices, and tight inventory.

But there are also areas where buyers have more power and homes are not unaffordable for first-time buyers.

Using Centris database data and comparing the sales-to-new-listings-ratio (SNLR) with median prices, the analysis ranks Montreal neighbourhoods in the last quarter of 2018.

For single-family homes, 16 markets were shown to be seller’s markets, 2 were balanced, and 7 favoured buyers.

 

Neighborhood

SNLR

Median Price*

Buyer's Markets

Ville Marie

13%

$913,750

 

Ile Bizard

28%

$445,250

 

Lasalle

30%

$450,000

Balanced Markets

Westmount

41%

$1,640,000

 

Ahuntsic

46%

$610,000

 

RDP/PAT

48%

$310,000

 

Anjou

50%

$382,500

 

Beaconsfield

52%

$673,600

 

Monteal Nord

53%

$300,000

 

Cote-St-Luc

57%

$620,000

Seller's Markets

South West

60%

$576,000

 

Mercier / Hochelaga

61%

$359,900

 

Plateau

63%

$999,000

 

Saint Leonard

64%

$425,000

 

Pierrefonds-Roxboro

68%

$386,000

 

Mont Royal

69%

$1,350,000

 

Lachine

72%

$440,000

 

Rosemont

73%

$655,000

 

Outremont

76%

$1,500,000

 

Dollard-des-Ormeaux

78%

$475,000

 

Villeray / St Michel / Parc-Ex

81%

$428,500

 

Verdun/Ile-des-Soeurs

82%

$790,000

 

Saint Laurent

84%

$595,000

 

Kirkland

86%

$590,000

 

Cote-des-Neiges-NDG

112%

$750,000

 

Pointe Claire

149%

$454,000

       

For condos, sellers were in control of 12 markets, 7 were balanced, and 3 favoured buyers.

 

Neighborhood/Area

SNLR

Median Price*

Buyer's Markets

Rivière-des-Prairies/Pointe-aux-Trembles

32%

$176,250

 

Pointe Claire

34%

$358,500

 

Pierrefonds-Roxboro

39%

$237,500

Balanced Markets

Ville Marie

40%

$391,500

 

Westmount

40%

$630,000

 

Saint Leonard

48%

$240,000

 

Cote-des-Neiges-NDG

50%

$366,000

 

Lasalle

55%

$284,500

 

Ahuntsic

58%

$245,000

 

Lachine

59%

$265,000

Seller's Markets

Anjou

61%

$235,500

 

Outremont

63%

$525,000

 

Villeray / St Michel / Parc-Ex

65%

$309,900

 

South West

69%

$337,000

 

Mont Royal

69%

$389,000

 

Mercier / Hochelaga

71%

$244,000

 

Saint Laurent

72%

$311,000

 

Rosemont

77%

$345,000

 

Cote-St-Luc

78%

$355,000

 

Verdun

86%

$368,500

 

Dollard-des-Ormeaux

93%

$260,000

 

Plateau

95%

$410,000

       

 


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