By Loc Chau | May 31, 2016
HOW QUIET IS QUIET? We usually issue market reports at the end of a quarter, but home sales in Nuns' Island warranted an earlier report of the single-family market.
From January to the end of May 2015, 42 houses were sold. This year only 29 houses are sold, a 31% drop from last year. By the end of 2016, the number of sale transactions should be less than 2015.
Home prices in Nuns' Island had an increase of 4% in the same period in 2015. The median price
The median price of a home in Nuns' Island was $773,750 in the January-May 2016 period.
90 condominium apartments were sold for the 5 months (January-May) of 2016 , almost a 10% increase over the same period in 2015. Median sale price is 2% over 2015 sale price.
Nuns' island condominiums sales, the up-trend continues - 15% of sale transactions In Nuns' Island are concentrated in Pointe-Nord EVOLO1, EVOLO2 and ZUNI condominiums. Another 15% of sales are in the Verrières Condominium bordered by huge and beautifully landscaped gardens on the banks of the St. Lawrence River, overlooking downtown Montréal, Mount Royal and the St. Lawrence through their exceptionally large windows.
The best mortgage rates you can have today
Variable : 2.25%
1 year : 2.29%
2 years : 2.14%
3 years : 2.29%
5 years : 2.49%
Historically, we have always done better by choosing short-term rates, that's what Variable rates are... A mortgage product prices from short-term funds. The only difference today, is that it makes more sense to lock into 2 or 3 years fixed term. What do you plan for 1 year, 2 years from now, move or stay. Not sure, use Variable rate.
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