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Real Estate Market Profile: Ville-Marie

Sales activity, average prices and appreciation rates in Downtown Montreal and Old Montreal.

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According to the latest statistics (Q3 2018) Montreal’s Ville Marie borough (Downtown and Old Montreal) registered one of the highest price growth rates across all property categories.

Here is a summary of real estate activity in Ville Marie, based on Centris statistics for the first three quarters of 2018:

Sales Activity: All Property Types

Q3 2018 % Change Last 4 Quarters % Change
Sales 418 5% 1,737 6%
New Listings 622 -10% 2,762 -11%
Active listings 1035 -19% 1,138 -21%

 

Sales increased by 5% in the third quarter, and by 6% year over year. Meanwhile, active listings continue to decrease, indicative of a seller’s market conditions.

Single Family Homes: Sales and Prices

  • The median single family home cost $944,500 in 2018, which is a 33% increase year over year.
  • Sales dropped by 6% in 2018 compared to 2017.

Condominiums: Sales and Prices

  • The median Plateau condo cost $398,000 in Q3 2018, which is 15% higher than in Q2.
  • Overall in 2018, the average condo cost $380,000, 11% higher than in 2017.
  • Total sales activity increased by 7 % compared to 2017.
  • Average selling time dropped by 13%.

‘Plexes: Sales and Prices

  • Overall in 2018, the average condo cost $558,750, 7% higher than in 2017. 
  • Total sales activity increased by 6 % compared to 2017.
  • Active selling dropped by 1 %.

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