Westmount Real Estate Market Update
The Greater Montréal Real Estate Board (GMREB) just announced that October 2016 has been the best month of October in seven years in Montréal’s Residential Real Estate Market.
The most recent residential real estate market statistics for the Montréal Census Metropolitan Area (CMA), based on the real estate brokers’ Centris® provincial database show in total, 3,083 residential sales were concluded in October 2016. That is an 8 per cent increase compared to October of last year. This was the 19th increase in sales in the past 20 months and the best sales result for a month of October since 2009.
How does this compare to Westmount sales? October 2016 saw 17 sales to October 2015’s 12 sales. This is a whopping 41% increase from last October!
October 2016 saw 13 new listings…2 less than last month.
There are 9 luxury properties in Westmount listed over $7m.
The large average asking price of a Westmount home at $2.891M has been dramatically affected by a current listing offered at 18.5m.
Are you thinking of buying or selling your home in Westmount or Montreal?
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