Sign up for our newsletter and get a curated list of the top trending stories and exclusive rewards every day.

Trending Topics

Get the MTL Blog app

Download on the App StoreGet it on Google Play

Montreal Area Home Prices Rose 20% (!) In The Last Year — Here's Where Prices Are Highest

The median single-family home price was up 20% in February 2022 compared to February 2021.

Senior Editor
Aerial view of houses in the Town of Mont-Royal on Montreal Island in the winter.

Aerial view of houses in the Town of Mont-Royal on Montreal Island in the winter.

If you happened to blink at any point in the last two years you might have missed the moment when your dream of homeownership in the near future slipped away. The latest market report from the Quebec Professional Association of Real Estate Brokers shows Montreal home prices are still going up.

In February 2022, the median price of a single-family home in the Montreal area was $550,000 — 20% higher than it was in February 2021.

The median condo price soared 16% year-over-year to $395,000. The median price for a two to five-unit plex was $765,000, also up 16%.

Here's the QPAREB's breakdown by area of median prices in February 2022:

Montreal Island:

  • Single-family home: $730,000
  • Condo: $440,000
  • Plex: $804,000
Laval:
  • Single-family home: $557,000
  • Condo: $400,000
North Shore:
  • Single-family home: $495,000
  • Condo: $328,750
  • Plex: $585,000
South Shore:
  • Single-family home: $550,000
  • Condo: $365,000
  • Plex: $700,000
Vaudreuil-Soulanges:
  • Single-family home: $600,000
  • Condo: $357,000
Saint-Jean-sur-Richelieu:
  • Single-family home: $478,000

Quebec City metro area prices were significantly less than those in Montreal in February 2022: $339,960 for a single-family home, $225,000 for a condo, and $412,500 for a plex.

In the province overall, the median prices were $422,000 for a single-family home, $360,000 for a condo, and $529,900 for a two to five-unit plex.

The QPAREB says a decrease in available housing inventory, overbidding, and a proportionally larger number of high-priced home sales are among the reasons for the continued price increases.

The number of sales of homes over $700,000, for example, increased 26% in February 2022 compared to February 2021, the association said.

More from MTL Blog

Comments 💬

Our comment section is a place to promote self-expression, freedom of speech and positivity. We encourage discussion and debate, but our pages must remain a safe space where everyone feels comfortable and the environment is respectful.

In order to make this possible, we monitor comments to keep spam, hate speech, violence, and vulgarity off our pages. Comments are moderated according to our Community Guidelines.

Please note that Narcity Media does not endorse the opinions expressed in the comment section of an article. Narcity Media has the right to remove comments, ban or suspend any user without notice, or close a story’s comment section at any time.

First and last names will appear with each comment and the use of pseudonyms is prohibited. By commenting, you acknowledge that Narcity Media has the right to use & distribute your content across our properties.

Loading...