montrealhome
  • Sell
  • Buy
  • MONTREALHOME
  • Guides
    • Buying guide
    • Selling guide
  • Journal
  • Directory
  • About
  • BUY analysis
  • Sell
  • Buy
  • MONTREALHOME
  • Guides
    • Buying guide
    • Selling guide
  • Journal
  • Directory
  • About
  • BUY analysis

MARKET REPORTS

Picture

WESTMOUNT SINGLE-FAMILY HOMES
​PRICE INDICATORS

Picture
Many people ask how to tell whether the market is heating up or cooling down. To them I say — always listen to the brokers. Not literally, of course! What you should listen for is the variance in what they’re saying to buyers versus sellers. If you’re a seller and you want to get a good read, pretend to be a buyer. Talk to the brokers and try to bid. They will almost instantly tell you how flexible the list price is. If they tell you they think they can close it at 20% less, this is a genuine indication for what’s truly going on. In a truly hot market, sale happens close to the list price or asking price, sometimes over it. In a cooling market, this gap becomes larger, leading to deals simply not closing.

WESTMOUNT HOMES LISTED FOR SALE

WESTMOUNT

FORECASTS

PRÉVISIONS

2018

2019 Estimate

Estimate Change

Actual

Janvier/January

12

18

+50.00%

18

Février/February

28

25

-10.71%

26

Mars/March

18

23

+27.77%

 

Avril/April

25

24

-4.00%

 

Mai/May

24

23

-4.16%

 

Juin/June

18

17

-5.55%

 

Juillet/July

14

11

-21.42%

 

Août/August

10

15

+50.00%

 

Septembre/September

24

20

-16.66%

 

Octobre/October

26

16

-38.46%

 

Novembre/November

11

12

+9.09%

 

Décembre/December

7

6

-14.28%

 

 

 

 

 

 

Total

217

210

-3.22%

 

 

 

 

Picture
Absorption Rate
Absorption rate above 20%: seller's market
​Absorption rate below 15%: buyer's market
Months Of Inventory
0-4 months: seller's market
5-8 months: balanced market
9 and more months of inventory: buyer's market
​​
Picture

WESTMOUNT - EXTINCTION OF THE SUB-$1 MILLION HOUSES

Houses priced below $1 million dollars are set to become totally extinct in Westmount, with less than 3% of homes now sold in Westmount priced below 7-figures; none priced below $800,000 and the majority sold (83%) priced between $1 million to $2 million. These are just some of the findings of new 2019 research by montrealhome, with data analysis of Centris, Quebec real estate brokers listings system.


The 2018 montrealhome survey looked at the price of all houses sold from 2000 to 2018. The montrealhome data found that in 2018, the majority of homes in Westmount (60%) sold at prices between $1 million to $2 million, with another 37% selling for prices from $2 million to $8 million.

Given these dramatic trends starting from 2010, montrealhome calculate that within the next 12-24 months, sub-$1million houses will become extinct across Westmount and the neighbouring ultra-prime parts of the West End.

In 2008 the median price of a sub-$1 million Westmount house was $780,000. In 2018 the median price was $900,000, a 15.38% increase. In the same period, over-$1 million Westmount houses increased 31,59%.

This reflects the continuing upward surge in residential values in Westmount, a reflection of both global demand and short supply, and also the large increase in super-luxury apartment schemes being built and sold in Montreal over the last 10 years. Westmount is still the place you could aptly say, ¨to be the place for luxury property.”
Proportion of luxury properties increasing every year since 2017.
Picture

WESTMOUNT HOUSES
2018 PRICE CHANGE

2017-2018 median price change

+11.61%
2008-2018 median price 

+72.00%
Picture
Picture

Picture
Request a valuation
ABOUT   FAQ
On The market : Ile-des-Soeurs/Nuns Island   Griffintown   Westmount    Downtown Montreal   Brossard  Candiac   Saint-Lambert  Saint-Bruno-de-Montarville Boucherville Villeray
Market Reports : Ile-des-Soeurs/Nuns Island   Griffintown   Westmount   Downtown Montreal  Montreal Sud-Ouest  Brossard  Dollad-des-Ormeaux  Saint-Bruno-de-Montarville  Boucherville  Villeray
On Location : Ile-des-Soeurs   International Quarter   Golden Mile   Vieux Montreal   Outremont   Boucherville

    Subscribe to our newsletter

Subscribe to Newsletter
© montrealhome 2020. All rights reserved.