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Montreal’s SouthWest Borough: Real Estate Profile, Prices and Trends

An in-depth look at the housing market in Montreal's SouthWest borough.

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The SouthWest (Le Sud Ouest) is one of Montreal’s most exciting boroughs to live or invest in, thanks to its lively commercial avenues, abundant green spaces and affordable property prices. Located along the Lachine Canal, a short walk from the Downtown core, the SouthWest is home to a diverse demographic from students to families, young couples and professionals.

When buying a condo or home, choosing the right location is just as important as the property itself. We’ve done some number crunching on property prices, market conditions and demographics in the SouthWest to help you make a more informed decision as a buyer or an investor.

Griffintown, St Henri, Pointe St Charles or Ville Émard?

Montreal’s South West is comprised of four residential districts: Griffintown, St Henri, Pointe St Charles and Ville Émard.

Griffintown is a former industrial district that has seen rapid development and revitalization over the past decade. Scores of new condo developments have sprung up in the area as well as new businesses, production firms, restaurants, and trendy boutiques. Griffintown’s location, nestled between the business district, the Old Port and the Downtown core, appeals primarily to Montreal’s young professional demographic.

Average condo price: $323,000

St Henri is a youthful yet family-friendly neighborhood known for its attractive strip of restaurants, cafés and antique shops along Notre Dame Street. St Henri’s “Atwater Market,” concert halls and proximity to the biking paths along the Lachine Canal make it a popular choice among young families, creatives and students.

Average condo price: $282,000
Average home price: $640,000

Pointe St Charles, the second oldest neighborhood in Montreal, is a quiet residential area across the Lachine Canal from Griffintown and St Henri. A stroll down Wellington, Knox and Charlevoix street reveals an exciting blend of urban and suburban: families picnicking under the abstract sculptures and leafy foliage of Parc Marguerite-Bourgeoys, children playing football, rows of brightly painted townhouses, historical churches and gardens, giant silos…  in all, a wonderful choice for a family or a young couple.

Average condo price: $343,000
Average home price: $616,000

Ville Émard / Cote St Paul is a mostly Francophone neighborhood, surrounded by Verdun to the South, Lasalle to the West, NDG to the North and St Henri to the East. The area has enjoyed a real estate boom in its residential sector since the early 2000’s, although the commercial artery is yet to be fully developed. It is accessibly by two metro stations, and contains the Angrignon Park – one of Montreal’s largest. Ville Émard is an interesting option for first time buyers,  families who wish to live in a quiet area, or investors counting on a long-term (buy-and-hold) play.

Average condo price: $245,500
Average home price: $348,500

Community Profile

Montreal’s SouthWest is home to a population of 80,153.

  • The largest age bracket in the SouthWest is 25-44 years (35%) closely followed by 45-64 years (24%).
  • 59% of residents are Francophone, while 26% are Anglophone and 15% speak another language as their mother tongue.
  • Of its registered families, 44% are couples with no children, 32% are couples with children at home, and 24% are single parent households.
  • 38% of residents in the South West are university educated.
  • 46% of residents live alone, while 32% live in 2 person households.

Property Types

In Montreal’s SouthWest, the majority of residential properties are buildings with less than 5 floors.

  • Single family homes account for only 2% of the total property market.
  • 43% of properties were constructed before the 1960’s, while 23% were constructed after 2001.
  • The majority of properties are tenant occupied – 65% compared to 35% owner occupied.

Real Estate Trends

The following housing trends were recorded on Centris for the last four quarters of 2017, in Montreal’s SouthWest Borough. As per these statistics, condos and ‘plexes are a smarter investment than single family homes.

  • Total Sales: 1063 sold
    • +6% increase in sales volume.
  • Condominiums: 731 sold
    • +7% increase in sales volume
    • Median price: $294,000
    • +6% appreciation
  • Plexes: 208 sold
    • +8% increase in sales volume
    • Median price: $460,000
    • +5% appreciation
  • Single Family Homes: 124 sold
    • -2% decrease in sales volume
    • Median price: $481,000
    • +3% appreciation

Market Conditions 

Price Range Inventory Sales Months of Inventory Market Conditions
$250K- 138 25.2 5.5 Seller’s
$250K-$299K 125 18.5 6.7 Seller’s
$300K-$349K 75 14.3 5.2 Seller’s
$350K-$399K 63 9.7 6.5 Seller’s
$400K-$499K 71 7.8 9.1 Balanced


Methodology

Average property prices and demographic profiles were sourced from the latest Centris statistics, as of April 9, 2018.
Market conditions were sourced from QFREB’s latest barometer (Q4, 2017)

Which neighborhood should we discuss next? Let us know in the comments below!


This article, Montreal’s SouthWest Borough: Real Estate Profile, Prices and Trends, appeared first on Shupilov News.

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