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Hottest Seller’s Markets For Homes And Condominiums: Montreal Real Estate

Which neighbourhoods are most favourable to sellers?

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Montreal’s residential real estate is presently a seller’s market, characterized by a highly competitive buying atmosphere, above-average price growth, and diminished inventory. This is especially true in the single family home segment, where bidding wars are increasingly common and offers are more likely to be accepted above the original asking price.


TL;DR: We ranked Montreal’s residential neighborhoods according to SNLR ratio, which determines how competitive/hot a market is.


We crunched Centris data from the last quarter of 2018 to rank market conditions in various Montreal neighborhoods, based on their sales-to new-listing-ratios.

The following neighborhoods were classified as seller’s markets in Q4 2018, according to their SNLR ratios:

The higher the SNLR ratio, the “hotter” the neighborhood.

Property Type Neighborhood SNLR Median Price*
Single Family Homes Pointe Claire 149% $454,000
Cote-des-Neiges-NDG 112% $750,000
Kirkland 86% $590,000
Saint Laurent 84% $595,000
Verdun/Ile-des-Soeurs 82% $790,000
Villeray / St Michel / Parc-Ex 81% $428,500
Dollard-des-Ormeaux 78% $475,000
Outremont 76% $1,500,000
Rosemont 73% $655,000
Lachine 72% $440,000
Mont Royal 69% $1,350,000
Pierrefonds-Roxboro 68% $386,000
Saint Leonard 64% $425,000
Plateau 63% $999,000
Mercier / Hochelaga 61% $359,900
South West 60% $576,000
Condominiums Plateau 95% $410,000
Dollard-des-Ormeaux 93% $260,000
Verdun 86% $368,500
Cote-St-Luc 78% $355,000
Rosemont 77% $345,000
Saint Laurent 72% $311,000
Mercier / Hochelaga 71% $244,000
South West 69% $337,000
Mont Royal 69% $389,000
Villeray / St Michel / Parc-Ex 65% $309,900
Outremont 63% $525,000
Anjou 61% $235,500

 

*All statistics are based on Centris data for the fourth quarter of 2018

What is an SNLR ratio, and how does it determine market conditions?

Sales-to-New-Listings-Ratio (SNLR) is a common metric used to determine whether a real estate market is advantageous to sellers or buyers. It compares the number of new properties listed for sale with the number of homes sold within the same timeframe.2

The Canadian real estate association classifies a market with an SNLR of 0-39% as a buyer’s market. In this scenario inventory exceeds demand, which typically increases buyers’ bargaining power. Sellers in these markets may find that it takes longer to sell their property, and price growth is likely to stall or even decrease.

A market with an SNLR between 40%-60% is considered a balanced market.

A high SNLR over 60% is indicative of a seller’s market. In this scenario, several buyers compete for limited inventory, which pushes up prices and increases the occurrence of bidding wars. In this type of market, sellers hold more bargaining power than buyers do.

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This article, Hottest Seller’s Markets For Homes And Condominiums: Montreal Real Estate, appeared first on Shupilov News.

 

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