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5 Unexpected Montreal Neighborhoods Where Home Prices Grew Over 15% This Year

These 5 areas recorded appreciation rates far higher than the average on Montreal Island.

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According to FCIQ’s third quarter statistics, the average single family home on the Island of Montreal appreciated by 8% in 2018, up to $491,500.

Several areas performed notably well when it comes to price growth – significantly for buyers and investors, many of these areas also recorded average prices which fell far below the average on Montreal Island, while also seeing far higher appreciation rates.

Here are the 5 neighbourhoods where single family homes performed best in 2018:

1. Chambly

  • Average price: $352,500 ($139,000 below Montreal Island average)
  • Appreciation rate (Q3, 2018): 25%
  • Location:  By the Richeliee river in La Vallée-du-Richelieu, approximately a half an hour drive to Downtown Montreal.

2. Brossard/Saint-Lambert

  • Average price: $455,750 ($35,750 below Montreal Island average)
  • Appreciation rate (Q3, 2018): 18%
  • Location: South Shore, approximately a 20 minute drive to Downtown Montreal.

3. Saint Lazare/Hudson

  • Average price: $426,654 ($54,846 below Montreal Island average)
  • Appreciation rate (Q3, 2018): 16%
  • Location: Convergence of the Ottawa river and St Lawrence, approximately a 1 hour drive to Downtown Montreal.

4. Mercier/Hochelaga-Maisonneuve

  • Average price: $417,000 ($74,500 below Montreal Island average)
  • Appreciation rate (Q3, 2018): 16%
  • Location: Island of Montreal.

5. Saint Laurent

  • Average price: $590,000 ($98,500 above Montreal Island average)
  • Appreciation rate (Q3, 2018): 16%
  • Location: Borough in the city of Montreal.

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This article, 5 Unexpected Montreal Neighborhoods Where Home Prices Grew Over 15% This Year, appeared first on Shupilov News.

 

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