Montreal Real Estate

Real Estate Market

The centre of Montreal is predominately apartment rentals, low-rise and high-rise condos, along with the occasional townhome or two. For university students, there are a large number of places where they can stay in close proximity to their university and other amenities at an affordable rental price. Young professionals can benefit from the same privilege, although many of them can leverage their high salaries towards making a down-payment on the more expensive condos within the city area.

Eastern Montreal has a very apartment- and townhome -dominated real estate market, and has by far some of the cheapest prices that you will find within the city of Montreal. In spite of an abundance of these types of homes, the communities generally tend to be very quiet during the day and night.

Southern Montreal’s rural nature allows for the development of larger townhomes that are attractive to upper -class individuals and families. The occasional apartment and condo are present, but newer developments will see a rise in the number of detached homes that are available to prospective homebuyers.

Western Montreal’s properties tend to strike a balance between homes, apartments, and low-rise/high-rise condos. There is enough variety such that you will see options available for middle class individuals and those who tend to be wealthier.

In Northern Montreal, there tends to be a divide between poorer families and upper-middle class families, which is often reflected in the pricing of the homes. The homes here are mostly suburban homes that tend to be semi-detached, although there is the occasional bungalow or apartment within each neighbourhood.

• Average Home Price: $321,700
• Average Rent Price: $944.83
• Average Condo Price: $331,766
• Average Detached Home Price: $325,900

The following table, based on data taken from the Canadian Real Estate Association (CREA’s) National MLS® Report for April 2016 (the latest information available), demonstrates how homes in LSTAR’s jurisdiction continue to maintain their affordability compared to other major Ontario and Canadian centers.

Education

Montreal is home to McGill University, boasting an international reputation for excellence and considered by many to be the top university in Canada for several subjects. It is also home to Concordia University, known for its prestigious business school (John Molson), Universite de Montreal (a francophone university that specializes in engineering), and Universite du Quebec a Montreal (known for its liberal arts programs).

Montreal has a variety of English-language and French-language elementary schools (K-8), having 80 schools and 210 schools respectively. Although there is ongoing debate about which schools are the best with respect to areas such as academics excellence and extracurricular opportunities, commonly listed schools include Westmount Park School and Ecole Arc-en-Ciel.