Interest in purchasing high end Westmount houses remain

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We have experienced one of the lowest volume of sale since December 2013. However there is definitely an interest in several of Westmount’s most expensive homes with one sale over $4 million and another over $2 million. The average markup over evaluation was only one percent, and the adjusted averages show the current level to be to its lowest point since April last year. Interest is more prominent in apartments, with three condominiums and three co-op apartments moving in January. One of the condos involved the 175 Metcalfe Ave., while... Read The Rest →

Buying a property is an important and valuable investment

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If you consider purchasing a home, you should first determine if you plan to live there for a short or a long time. Buying a house or a condo is not just a housing issue it is also an important investment to plan ahead. The great advantage of becoming an owner is the fact that you are totally at home in your home. It is also worthwhile to realize that you have something tangible and concrete that belongs to you and that strengthens your financial portfolio and your estate. Therefore... Read The Rest →

First select a neighbourhood

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Everyone involved in real estate will tell you: “first select a neighbourhood before choosing a property”. A property in an area that does not suit you will not make you happy. It is best to first determine the or the neighbourhoods that interest you. What criteria should be considered? The first AND most important is subjective: if you have an attachment to some central or peripheral areas, it is a good indication that you will love to live there. Trust your instincts. Then take into account your lifestyle. If you... Read The Rest →

Real estate 2014 year end in Westmount finishes on a rather positive note!

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First, I would like to take this opportunity to wish you all health, happiness and prosperity in 2015! As we begin the New Year, I would like to give a short overview of the real estate performance in the Westmount market for November and December. Generally speaking the end of year finished on a rather positive note. In the last quarter we noticed that buyers seemed to be ready to pay the asking vendors prices in some of the larger Westmount homes. The average price of 11 sales in November... Read The Rest →

Is PK Subban moving to Westmount ?

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For all his flashiness, Subban professes not to know what “polarizing” means. ILLUSTRATION BY OWEN FREEMAN In late September, several weeks after signing a long-term deal that gave him the third-highest average annual salary in the National Hockey League, P. K. Subban went shopping for a house. Subban, a twenty-five-year-old defenseman for the Montreal Canadiens, grew up in a diverse Toronto neighborhood called Rexdale. For the first several years of his pro career, he rented apartments, either in the tourist district of Old Montreal or in a hotel downtown, while maintaining... Read The Rest →

October sales: a sudden rush!

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Good news! I am happy to share with you the fact that the value of the ‘typical’ Westmount house has climbed slightly since September and indicates positive signs of a healthy market. The high-priced houses however, remain slow to find buyers. I am also noticing a new trend in our market : a new profile of buyers are coming from China, the USA as well as from other Canadian Provinces. The end of the October is quite encouraging with five sales between October 25 and 31. This rhythm was maintained... Read The Rest →

Municipal evaluation plays an important role in the mindset of Westmount vendors.

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September/October 2014 : According to Marie Sicotte, ‘Sales activities in the Westmount market continue to favour the buyer. Even though selling prices are often determined by municipal evaluation, buyers should not overlook the added value that some renovations bring to a property such as a new roof, a new furnace, or new windows’. Sales volume picked up in September among the lower priced Westmount houses (six of the sales were for less than $1 million). Prices did somewhat better in adjacent-Westmount areas. The average markup over evaluation was 22 percent, with only... Read The Rest →

Market Statistics in Westmount

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August/September 2014: As September begins, there are signs of encouragement in the Westmount housing market. A lot of buyers are actively working on finding new homes. It also seems that sellers will be holding onto their asking prices. I would like to take this brief opportunity to remind you that August remains most probably the slowest month of the year which is similar to what we see in average in December. Top range houses went off to just 16 percent over evaluation, with an average of a five-percent markup. The... Read The Rest →

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