2019 was an exceptional year for Metro Montreal home prices. The value of a benchmark house rose by close to 9% and the median house price rose 7%. Apartment and Townhouse prices rose throughout the year too.
Buyer interest increased by roughly 10% year-over-year.
The housing market in Montreal is a seller's market so sellers have the advantage in price negotiations.
Even though Montreal home prices are much lower than Vancouver and Toronto, a typical Metro Montreal household can no longer afford current house prices and there is a growing risk of a bubble.
Canadian real estate prices are still facing several high impact risks.
