Welcome aboard the train to end the exasperation with skyrocketing real estate prices. A new map of Montreal’s REM (Réseau express métropolitain) showing property prices around each station might temper your dreams of owning a big, train-accessible home.
The map, compiled by local broker Charlyse Amoussou (@immocharlyse) using Centris data, lists 2021 and Q1 2022 median sales prices for three-bedroom homes in the area around each of the 26 planned REM stations in Montreal. , Laval, the North and South Shore.
Median price of three-bedroom homes around Montreal-area REM stations.Courtesy of Charlyse Amoussou
Unsurprisingly, the stations with the highest prices nearby are in Ville Mont-Royal. Three-bedroom homes around Canora and Ville-de-Mont-Royal stations had a median price of $1.888 million in 2021 and $1.966 million in the first quarter of 2022.
List of median prices for three-bedroom houses around REM stations in the Montreal area.Courtesy of Charlyse Amoussou
For the lowest prices, look at Panama Station on the South Shore ($439,000 in 2021 and $550,000 in Q1 2022) or stations along the North Shore branch of the light rail network. Around suburban Deux-Montagnes stops, the median price for three-bedroom homes was $487,000 in 2021 and $503,500 in Q1 2022.
List of median prices of three-bedroom houses around REM stations in the Montreal area.Courtesy of Charlyse Amoussou
Amoussou also compared the changes in median prices between 2021 and 2022. Around the Du Quartier station on the South Shore, the median price of surrounding three-bedroom houses has increased by 51.66% – although it is not clear if there were any outliers that could have affected this number.
Map of variations in the median price of three-bedroom houses around REM stations in the Montreal region between 2021 and 2022.Courtesy of Charlyse Amoussou
On June 20, the company behind the REM project, CDPQ Infra, postponed the opening dates of two of the network’s branches.
Although the South Shore segment, between Brossard and Central Station in downtown Montreal, is still scheduled to open in 2022, the Centre, West Island and North Shore segments of Central Station in Anse-à-L’Orme and Deux-Montagnes, are not expected to open until late 2024.