December 2012 Westmount Homes Market Report
It took 99 days on market (DOM) to sell the 11 homes MLS® reported this December in Westmount. Sales were between $789,000 on York, in the village and $2,720,000 on Forden Crescent. As it was last month, two sales were under $1mm and four exceeded $1.5mm. The average sales price for these 11 sales was $1,508,650 at an average discount off the last asking price at 7%. Three contracts expired this month and property listings dropped off again at the end of the season leaving 112 active properties in inventory with only 8 new listings coming to market for December. The absorption rate for inventory supply remained at 10.2 months supply, same as last month.
Home types and sectors of Westmount influence prices and sales delays on market. Westmount homes vary in style down in the village, on Greene Avenue, the hills near NDG or near Westmount Park, above Westmount Avenue or the Boulevard to the Summit and on the backside of the mountain towards Queen Mary, tucked in behind Saint-Joseph’s Oratory or down on the flats near Atwater. There are also a number of one-of-a kind homes whose speculative value increases both price and sales delay beyond the norm.
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).