Buying a home? Here's what $500K will get you in Montreal
Earlier this month, the Bank of Canada raised its key interest rate to 5 per cent, the highest it's been since 2001.
While higher interest rates tend to drive down demand on the housing market -- and by extension, price -- analysts predict housing prices in Montreal will remain elevated over the coming months.
Royal LePage forecasts that the aggregate price of a home in the Montreal area will increase 8 per cent year over year by the fourth quarter of 2023, to $587,844.
To get a picture of where the market's at right now, here's a list of what $500,000 (ish) can get you in Montreal, borough-by-borough.
(Hint: it's a lot of condos).
AHUNTSIC-CARTIERVILLE
9180, Basile-Routhier St. in Ahuntsic-Cartierville. (Centris.ca)
COST: $499,000
TYPE: House (bungalow, detached)
BEDROOMS: 2
YEAR: 1947
LOT AREA: 2,429 sqft
ANJOU
7150, M.B. Jodoin Ave. in Anjou (Centris.ca)
COST: $499,000
TYPE: Condo
BEDROOMS: 3
YEAR: 1982
NET AREA: 1,468 sqft
CÔTE-DES-NEIGES-NOTRE-DAME-DE-GRÂCE
4265 Prince-of-Wales Ave. in Côte-des-Neiges–Notre-Dame-de-Grâce. (Centris.ca)
COST: $485,000
TYPE: Condo
BEDROOMS: 3
YEAR: 2008
NET AREA: 953 sqft
LASALLE
1991, Senkus St. in Lasalle. (Centris.ca)
COST: $518,900
TYPE: Condo
BEDROOMS: 2
YEAR: 1995
NET AREA: 1,218 sqft
LACHINE
49 Paul-Émile-Chevrier St. in Lachine. (Centris.ca)
COST: $515,000
TYPE: House (semi-detached)
BEDROOMS: 3
YEAR: 1991
LOT AREA: 1,653 sqft
PLATEAU-MONT-ROYAL
3860 Henri-Julien Ave. in Plateau-Mont-Royal. (Centris.ca)
COST: $505,000
TYPE: Condo
BEDROOMS: 2
YEAR: 1986
NET AREA: 857 sqft
SUD-OUEST
2801 Du Centre St. in Sud-Ouest. (Centris.ca)
COST: $467,500
TYPE: Condo
BEDROOMS: 3
YEAR: 1987
NET AREA: 750 sqft
L'ÎLE-BIZARD-SAINTE-GENEVIÈVE
121 Joly St. in L'île-Bizard-Sainte-Geneviève. (Centris.ca)
COST: $479,900
TYPE: House (bungalow, detatched)
BEDROOMS: 2
YEAR: 1955
LOT AREA: 18,300 sqft
MERCIER-HOCHELAGA-MAISONNEUVE
1629 Bourbonnière Ave. in Mercier-Hochelaga-Maisonneuve. (Centris.ca)
COST: $499,000
TYPE: Condo
BEDROOMS: 2
YEAR: 2021
NET AREA: 778 sqft
MONTREAL NORTH
10755 De l'Hôtel-de-Ville Ave. in Montreal North. (Centris.ca)
COST: $499,000
TYPE: House (bungalow, detached)
BEDROOMS: 3
YEAR: 1955
LOT AREA: 4,015 sqft
OUTREMONT
763 Querbes Ave. in Outremont. (Centris.ca)
COST: $495,000
TYPE: Condo
BEDROOMS: 2
YEAR: 1927
NET AREA: 807 sqft
PIERREFONDS-ROXBORO
13197 Maplewood St. in Pierrefonds-Roxboro. (Centris.ca)
COST: $534,000
TYPE: House (split-level, detached)
BEDROOMS: 4
YEAR: 1966
LOT AREA: 7,800 sqft
RIVIÈRE-DES-PRAIRIES-POINTE-AUX-TREMBLES
12135 Primat-Paré Ave. in Rivière-des-Prairies-Pointe-Aux-Trembles. (Centris.ca)
COST: $535,000
TYPE: House (semi-detatched)
BEDROOMS: 3
YEAR: 2009
LOT AREA: 2,596 sqft
ROSEMONT-LA-PETITE-PATRIE
7026 Saint-André Street in Rosemont-La-Petite-Patrie. (Centris.ca)
COST: $535,000
TYPE: Condo
BEDROOMS: 1
YEAR: 1964
NET AREA: 648 sqft
SAINT-LAURENT
740 Montpellier Blvd. in St. Laurent. (Centris.ca)
COST: $449,000
TYPE: Condo
BEDROOMS: 3
YEAR: 1977
NET AREA: unknown
SAINT-LÉONARD
4650 Jean-Talon St. East in Saint-Léonard. (Centris.ca)
COST: $499,900
TYPE: Condo
BEDROOMS: 3
YEAR: 2007
NET AREA: 1,005 sqft
VERDUN
100 Rhéaume St. in Verdun. (Centris.ca)
COST: $480,000
TYPE: Condo (divided)
BEDROOMS: 2
YEAR: 2004
NET AREA: 934 sqft
VILLE-MARIE
628 Saint-Jacques St. in Ville-Marie. (Centris.ca)
COST: $489,000
TYPE: Condo (divided)
BEDROOMS: 1
YEAR: 2022
GROSS AREA: 538 sqft
VILLERAY-ST-MICHEL-PARC-EXTENSION
7881 24th Ave. in Villeray-Saint-Michel-Parc-Extension. (Centris.ca)
COST: $500,000
TYPE: House (detatched)
BEDROOMS: 4
YEAR: 1951
LOT AREA: 3,750 sqft
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