Montreal’s South West Borough performed extremely well in the first half of 2018, according to the FCIQ Real Estate barometer. Market conditions favoured sellers at all condominium price points under $500,000, indicating a hot market with strong appreciation rates across all property types.
The South West consists of Griffintown, St Henri, Pointe St Charles and Ville Émard.
Here is a summary of real estate activity in those boroughs, based on Centris statistics for the first two quarters of 2018:
Sales
Sales in Montreal’s South West increased by 10% in the second quarter of 2018. Meanwhile, active listings dropped by -23%. These conditions indicate a heated environment, in which inventory is scarce and strong competition is likely to generate bidding wars.
In the last year, sales in the South West have increased by 12%.
Condo market conditions by price point
The South West market favours sellers at all price points except for $500,000+, where the market is balanced.
- The price point under $250,000 recorded the highest inventory, an average of 112 units, and 4.9 months of inventory. (Seller’s market)
- At the $250,000-$299,000 price point, FCIQ recorded an average of 5 months of inventory. (Seller’s market)
- The $300,000-$349,000 price point recorded the lowest months of inventory, at 3.9 months.(Seller’s market)
- The $350,000-$399,000 price point recorded 4.5 months of inventory.(Seller’s market)
- The $400,000-$449,000 price point recorded 6.7 months of inventory. (Seller’s market)
- The $500,000+ price point was the only balanced market in the South West, at 9.2 months of inventory.
Single Family Homes
In the last 12 months (up to the second quarter of 2018)
- 153 single family homes were sold
- The median price is $552,000
- The average price is $563,537
- The average single family home sold within 42 days.
- Average prices have grown by 37% over 5 years.
Condominiums
In the last 12 months (up to the second quarter of 2018)
- 1109 condos were sold
- The median price is $306,000
- The average price is $343,090
- The average condo sold within 70 days.
- Average prices have grown by 20% over 5 years.
‘Plexes
In the last 12 months (up to the second quarter of 2018)
- 320 plexes were sold
- The median price is $526,500
- The average price is $553,881
- The average plex sold within 58 days.
- Average prices have grown by 35% over 5 years.
Market Conditions per Sector: Griffintown
Griffintown is a popular choice for condominium buyers, young couples and professionals.
- The average condo costs $330,000
- There were 164 condos for sale in July 2018.
Browse properties for sale in Griffintown
Market Conditions per Sector: St Henri
St Henri is a popular choice for young families, students, and revenue property buyers.
- The average condo costs $318,000
- The average single family home costs $710,000
- The average ‘plex costs $621,500.
Browse properties for sale in St Henri
Market Conditions per Sector: Pointe St Charles
Pointe St Charles is a popular choice for families, young couples and single family home buyers.
- The average condo costs $338,500
- The average single family home costs $650,000
- The average ‘plex costs $525,000.
Browse properties for sale in Pointe St Charles
Market Conditions per Sector: Ville Émard
Pointe St Charles is a popular choice for revenue property buyers.
- The average condo costs $260,250
- The average single family home costs $388,500
- The average ‘plex costs $500,000.
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