Montreal’s aggregate home price smashed $400K in Q4 2018

The aggregate price of a home in the Greater Montreal Area rose to $407,230 in the final three months of 2018.

The 4.1% increase beat the gains seen in the Greater Toronto Area (3.4%) and Greater Vancouver (2.1%) and just ahead of the national average of 4.0%.

Figures from Royal LePage reveal that the median price of a two-storey home in the Greater Montreal Area rose 3.5% year-over-year to $517,190, after surpassing the half-million-dollar mark for the first time in the third quarter. Condos gained 4.9% to $328,254.

The aggregate price of a home in Calgary and Edmonton rose 1.3% and 1.6%, respectively, to $484,462 and $385,550; elsewhere in Alberta, Fort McMurray saw a 9.4% decline.

In Saskatchewan, Regina increased 0.1% year-over-year but Saskatoon posted a 1.7% decrease.

Atlantic Canada remained strong, posting some of the largest price gains in the country in the fourth quarter. Moncton and Charlottetown posted the highest home price growth in the region, rising 12.6% and 7.1% respectively year-over-year. St. John's was notably weak, with prices falling 2.6% from the year before.

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