December 2012 Montreal West Homes Market Report
The oversold market of Montreal West again reported one sale on MLS® this December. This 3 bedroom semi-detached home on Westminster, near Curzon, sold for $470,000. Four contracts expired and 1 new home came to market bringing active properties for sale to 11 this month. The sales was discounted by 13% off last asking price, a record discount level for 2012 and sold in 28 days, another record. As a result, the inventory absorption rate went down to 11 months.
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).
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