The Median Condo Price In Montreal Has Soared Since 2020 — Here's Where It Increased Most
According to a new report.
Median condo prices in the Montreal area are up 20% compared to last August, according to a report by the Quebec Professional Association of Real Estate Brokers (QPAREB). But some areas saw even bigger price increases.
The report looked at several general areas within the greater metro area, including Montreal Island, the North and South Shore, Laval, and the MRC of Vaudreuil-Soulanges.
Of these, the report shows the North Shore saw the biggest increase in median condo prices between August 2020 and August 2021 with a 27% jump.
The QPAREB used data from Centris for the report and calculated median prices by dividing "all transactions into two equal parts: 50 percent of transactions concluded at a lower price than the median price and 50 percent concluded at a higher price."
The association noted that "some transactions may be excluded from the calculation to obtain a more meaningful median price."
Here's the breakdown from the QPAREB report.
Montreal Island
The median price in August 2020: $383,000
The median price in August 2021: $430,000
Increase of 12%
Montreal North Shore
The median price in August 2020: $220,000
The median price in August 2021: $280,000
Increase of 27%
Montreal South Shore
The median price in August 2020: $255,000
The median price in August 2021: $320,000
Increase of 25%
Laval
The median price in August 2020: $286,950
The median price in August 2021: $339,000
Increase of 18%
Vaudreuil-Soulanges
The median price in August 2020: $257,500
The median price in August 2021: $325,100
Increase of 26%
