October 2012 Montreal West Homes Market Report
MLS® reported 5 homes sold in Montreal West this October. One cottage at 336 Ballantyne North sold for $550,013, a bungalow at 10 Banstead Road sold for $595,000 and 3 split-levels at 48 Place Rugby ($591,000), 128 and 229 Prom. Sheraton for $572,500 and $665,000 respectively. One contract expired and 5 new homes came to market bringing active properties for sale to 16 for the month of October. These sales reported an average discount off last ask price of 7% and the average sales value was $594,703. The inventory absorption rate was at the usual low of 3.2 months and it took an average of 83 days to sell a home in Montreal West this past month.
Montreal West homes are known for their particular styling’s dominated by homes built by architect Alfred Payne which featured architectural elements from the Arts and Crafts movement including half-moon canopies over the porches, attic dormers and sporting many modillions (ornate brackets used under the cornices). Sub-sectors in this cozy neighbourhood will influence prices based on home type which vary, for example, on the Streets below Nelson toward the commuter train tracks off Sherbrooke and different again for homes south of these tracks. To the northern most section of Montreal West, the homes are newer and quite different above the freight train tracks near Cote St Luc Road. Homes on the West side of Westminster vary in price significantly on the same Street. Understanding home types is the key to pricing in Montreal-West.
More complete market information relevant to your personal needs and goals is available. These statistics, as reported on MLS® are presented monthly for a comparative view of local neighbourhoods. Private sales, sales that are reversed and sales not yet confirmed are not included. Complete statistics are available to clients purchasing or selling their property(s).