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montreal house prices

homes for sale in montreal

Here's the annual salary you'd need to buy a house in these 24 Quebec cities

Buying a home in Quebec isn't what it used to be. Depending on where you're looking, prices can feel either surprisingly manageable or completely out of reach, and your salary might be the biggest factor.

A recent report from the Association professionnelle des courtiers immobiliers du Québec (APCIQ) breaks down just how much you’d need to earn per year to buy a median-priced single-family home in 24 cities across the province.

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Here's what salary you need to afford a home in Quebec vs. every other Canadian province

Buying a home in Quebec—and across the rest of Canada—has become a significant challenge for many people. Whether you're eyeing property in Montreal or looking for something quieter in the province's outskirts, it's hardly breaking news that house prices have climbed in recent years.

But how do Quebec's housing prices compare to the rest of Canada?

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Here's How Much You Need To Make To Afford A Starter Home Across Quebec

Quebec is an expensive place to buy a house, especially if you live in the cities. A new real estate survey from HelloSafe estimated the amount Quebecers would have to earn in order to afford a humble starter home in areas across the province, and for Montrealers, it's not looking good.

The average size of a starter house ranges broadly depending on your price point and location, but 100 square metres (or just over 1,000 square feet) is a realistic average. HelloSafe found that the average price per square metre across Quebec was $3,092. In Montreal, the average price per square metre is more than double that average, at $7,262.

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montreal rem

This Montreal REM Map Shows Median House Prices Around Every Station In 2022

Bienvenue à bord the train to complete exasperation with meteoric real estate prices. A map of the Montreal REM (Réseau express métropolitain) showing property price tags around every station might temper your dreams of owning a large, rail transit-accessible home.

The map, put together by local broker Charlyse Amoussou (@immocharlyse) using data from Centris, lists median 2021 and Q1 2022 selling prices for three-bedroom houses in the area around each of the REM's planned 26 stations in Montreal, Laval, the North and South Shores.

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montreal homes for sale

This 3-Bedroom Single-Family Montreal Home For Sale Is Less Than $400,000

Looking for a home to buy? Considering home prices in Montreal have jumped, it's certainly no easy feat to find a Montreal home for sale for under $400,000.

Thankfully there are a few gems across the 514 that offer up affordable single-family homes and there's one for sale right now through duProprio in Montreal-North.

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Canada Plans To Ban Foreign Buyers From Purchasing Homes For 2 Years

Canada plans to ban non-resident foreigners from buying residential property for two years — a move aimed at tackling an out-of-control housing market.

Federal Finance Minister Chrystia Freeland made the announcement while unveiling the 2022 federal budget Thursday afternoon.

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montreal homes for sale

This Spacious Single-Family Montreal Home For Sale Is Less Than $400,000

Looking for a home in Montreal but can't seem to find something at an affordable price? Well, this semi-detached single-family home might be what you've been searching for. Located in Montreal-Est, this 2,800 square foot house is one of very few homes for sale in Montreal for less than $400,000.

This three-bedroom and two-bathroom property comes in at $390,000, which is rarely seen on the Island of Montreal — making it the perfect space for a family with kids, a couple, or anyone looking for a rental property.

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montreal houses for sale

Montreal Homes Prices Are Set To Be Even More Unaffordable In 2022

If you were planning to buy a home in Montreal, you might want to do it quickly because next year, you might not even be able to afford it. According to Royal LePage's home price forecast, the median home price in Greater Montreal is set to increase by 8% — to $564,800 — by the end of 2022.

The 8% increase represents the aggregate forecast for home prices in 2022. This factors in both single-family homes and condominiums. Royal LePage forecasts detached single-family homes will see the largest price increase.

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Montreal Home Prices Have Risen By A Bonkers 20% Since Last Year But Is Anyone Surprised

As Montrealers contend with higher gas and grocery prices, the cost of housing is also increasing – and they might not level off anytime soon, according to new data.

The cost of real estate in Greater Montreal has increased by over 20% compared to last year, according to a new report released this week by the Canadian Real Estate Association.

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Here's The Median Price Of Homes & Condos In Different Parts Of Greater Montreal Right Now

Real estate company Royal LePage released its latest House Price Survey and Market Survey Forecast, revealing the median price of houses and condos in Greater Montreal over the past three months.

It splits the data into six regions: Montreal Centre, Montreal East, Montreal West, Laval, Montreal North Shore and Montreal South Shore.

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You Need To Make Over $70k/Year To Buy An Average Montreal Condo Right Now, A Report Says

A recent housing affordability report from the National Bank of Canada (NBC) has found that condo prices in Montreal saw a big increase in the last year. Now, to afford the average condo, your household would need an annual income of over $70,000 per year, according to the report.

"Condo prices were up 4.6% while non-condo prices increased 6.0%" in the last quarter. In the last year, Montreal recorded the "highest annual growth since 1983," the NBC noted.*

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