Your #1 Source of Montreal Real Estate News

Highest and Lowest Appreciation Rates in Montreal’s Condo Market

0 760

Which Montreal neighbourhoods recorded the highest appreciation rates over the past four quarters of 2017? We used Centris data to rank each Montreal neighbourhoods according to property value growth in the last year. Here’s what the numbers say:

Montreal city averages: 

  • Median price (2017) : $296,000
  • Average appreciation: 4%

10 – City of Westmount: -6%

Montreal’s most affluent borough saw the lowest appreciation rate in its condo market last year. In fact, the average Westmount condo depreciated in value by 6% since January 2017,  to a median price of $587,084.

9 –  HOMA, Cote des Neiges: 0%

In HOMA, Notre Dame des Graces and Cote des Neiges the condo market remained stable – condos neither appreciated nor depreciated in 2017. The median condo was priced at $230,000 in HOMA and $335,000 in NDG / CDN.

8 – South West, Plateau Montreal: 1%

Plateau and Montreal’s SouthWest borough (Griffintown, St Henri, Ville Émard and Pointe St Charles) saw a 1% appreciation in their condo values in 2018.  The median condo was priced at $295,000 in the Southwest and $340,000 in the Plateau.

7 – Lasalle: 3%

In Lasalle, condos increased in value by 3%, a figure that fell slightly below the city’s average. The median condo was priced at $278,000.

6 – Outremont and Ville Marie – 4%

Outremont, Downtown Montreal and Old Montreal recorded appreciation rates in line with Montreal Island’s average, at 4%. The median condo was priced at $488,750 in Outremont and $352,000 in Ville Marie.

5 – Montreal North and Verdun / Nun’s Island 5%

Montreal North and Verdun / Nun’s Island both saw appreciation rates of 5% in 2017. The median condo was priced at $216,279 in Montreal North and $338,000 in Verdun.

4 – Villeray: 6%

Montreal’s Villeray borough provided a good balance of above-average appreciation rates and affordable prices in 2017, with the median condo costing $277,500. The median condo was priced at $277,500.

3 – Rosemont: 7% 

Rosemont saw its condos appreciate at a rate of 7% year over year.  The median condo was priced at $309,000.

2 – Lachine: 12% 

Lachine’s condo market recorded an excellent appreciation rate of 12% in 2017. The median condo was priced at $414,250.

1 – Town of Mount Royal: 22%

Town  of Mount Royal saw the highest appreciation rate of all Montreal boroughs in 2017, with the average condo’s value increasing by 22%. The median condo was priced at $402,500.

 

This article,  Highest and Lowest Appreciation Rates in Montreal’s Condo Market, appeared first on Shupilov News.

 

 

 

 

 

Want to stay informed on the latest real estate news?

Subscribe to get the latest news delivered straight to your inbox every week

Leave A Reply

Your email address will not be published.