The Plateau-Mont-Royal, nestled in the heart of Montreal, is a neighborhood that is increasingly captivating buyers in search of an exceptional living environment. With its bustling streets, green parks, and vibrant artistic scene, the Plateau epitomizes urban life at its best.
Today, I’d like to take a closer look at real estate trends in the Plateau-Mont-Royal for the third quarter of 2023, comparing them with the same quarter last year.
If you are considering investing in real estate or acquiring a property in the Plateau-Mont-Royal, you are in the right place!
A Healthy Residential Market
In the third quarter of 2023, the Plateau-Mont-Royal experienced a significant increase in residential transactions, with 190 sales recorded, marking a 16% increase compared to the previous year.
These figures reflect the sustained demand for properties in this sought-after neighborhood. The sales volume also increased by 18%, reaching $141,116,000.
These statistics leave no doubt: the Plateau-Mont-Royal offers a dynamic real estate market ripe for investment.
Single-Family Homes
Single-family homes remain a preferred choice for many buyers on the Plateau-Mont-Royal.
During the third quarter of 2023, the number of active listings for these properties increased by 24% compared to the previous year. This increase reflects the diversity of available options, providing buyers with a broader array of choices than in the same period in 2022.
If you are contemplating the purchase of a single-family home, the Plateau-Mont-Royal offers a multitude of attractive options to explore.
Condominiums
For those in search of condominiums, the statistics for the third quarter of 2023 are also promising.
Condo sales increased by 12%, totaling 140 transactions. Furthermore, the median price of condominiums increased by 3%, reaching $536,500.
Although the average sales time increased by 16 days, these numbers reflect continued demand for more compact and affordable living spaces in the Plateau-Mont-Royal.
Plexes (2 to 5 Units)
Multiplexes, residential buildings with 2 to 5 units, also experienced significant sales growth in the third quarter of 2023, with a 42% increase.
Active listings decreased by 8%, underscoring sustained interest in these versatile properties.
The median price of multiplexes increased by 4%, reaching $1,166,250. Despite an average sales time of 47 days, these figures demonstrate that multiplexes remain a solid investment in this sought-after neighborhood.
If you are considering becoming a homeowner in the Plateau-Mont-Royal or anywhere in Montreal, I am here to provide guidance on mortgage financing and assist you in realizing your home-buying project.
Feel free to contact me for a personalized consultation or additional information on the real estate market!
For more real estate news, visit my blog!
