Market snapshots, news and trends you’ll need to stay ahead

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Inventory levels up substantially yet the number of home sales remains constant this year over last year.


Real Estate Market Report October 2017

We’re profiling some highlights from the third quarter of 2017, as compared to the third quarter of 2016 on the Island of Montreal and in Westmount. “The real estate market is continuing its stron...Read More


Real Estate Market Report September 2017

This was the most active month of August since the GMREB began keeping track of property sales. Montréal real estate market has been building an impressive track record,” said Mathieu Cousineau, Pr...Read More


Real Estate Market Report – August 2017

Despite the weather, Montreal's JULY Real Estate Market is HOT! According to the GMREB's (The Greater Montréal Real Estate Board) July real estate report, property sales in Montreal are up by 16% in...Read More


Real Estate Market Report – Jan-June 2017

Home sales & prices continue to rise, while inventory remains low. Luxury home sales are soaring. With housing inventory at such a low, the demand in the luxury real estate market is continuously...Read More


Westmount Market Report – June 2017

Discover real estate market trends in Westmount Westmount Market Update @ June 1st 2017The Greater Montréal Real Estate Board (GMREB) has just released its most recent residential real estate ma...Read More


Christie’s Global Luxury Real Estate Market Report: Luxury Defined 2017

Now in its fifth year, Luxury Defined: An Insight into the Luxury Residential Property Market, our affiliate Christie's International Real Estate, presents an in-depth analysis of trends shaping the r...Read More


Westmount Real Estate Market Report – May 2017

Last month little known Home Capital Group Inc, one of Canada’s most successful non-bank mortgage lending enterprises, took a $2-billion emergency loan, with an interest rate of more than 22%, causi...Read More


Westmount Real Estate Market Report – Q1 2017

Low Inventory in Westmount = Seller's Market! Plus, Real Estate Board announces Best Month of March in Five Years! At the end of 2017's first quarter (January-March 2017), the Westmount real estate m...Read More


Westmount Real Estate Market Report March 2017

A recent report from Centris.ca profiled "Most Expensive Regions of 2016" in Quebec. It's no surprise that most  of the expensive regions for single-family homes in 2016 are found on the Island of Mo...Read More


Westmount Real Estate Market Update February 2017

Westmount Real Estate Market Update February 1st 2017  Don’t wait until spring to sell..or buy. January, February are prime months to purchase a home! January, February prime months to pur...Read More


Westmount Real Estate Market Update – YEAR END

Westmount has ended the year with a 50% increase in residential sales over last December. According to a new press release from the GMREB (Greater Real Estate Board of Montreal), Montreal ends 2016 w...Read More


Westmount Real Estate Market Update @ November 1st, 2016

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 Rea...Read More


Westmount Real Estate Market 3rd Quarter Results

The 3rd Quarter Real Estate results are in! We are 3 months away from closing out Real Estate Sales in 2016. Find out what has been happening in the Westmount Real Estate Market. There have been 131 ...Read More


Westmount Real Estate Market Update @ September 1st, 2016

Westmount Real Estate Market @ September 1st According to an August article in the Globe & Mail, “The real estate sector keeps setting new records. Indeed, it’s now Canada’s biggest industr...Read More


Westmount Real Estate Market Update @ August 1st, 2016

What are the trends taking shape in Westmount's real estate market?Sales are predictably lower given that July is holiday time for many Westmount families. Surprisingly 11 homes were list...Read More


Christie’s Global Luxury Real Estate Market Report 2016

An insight into the global luxury residential real estate market. The world of luxury real estate continues to evolve alongside the changing lifestyles, shifting financial objectives, and diverse pre...Read More


Westmount Real Estate Market Update @ June 30th, 2016

We're halfway through 2016 and the numbers are in!•    On average we sell about 150 single family homes per year in Westmount.•    We’re halfway through the year and we’ve so...Read More


Westmount Real Estate Market Update @ June 1st, 2016

Wondering how the Westmount real estate market is performing? Check out Westmount's housing statistics from May 1st - May 31st, 2016.Have questions about buying or selling your home?[gravit...Read More


Westmount Market Report – October 2015

The city of Westmount has always been a highly desirable neighbourhood in which to live, work, play and invest! Residents are drawn to this upmarket, urban village for its beautiful homes, charming architecture, exceptional amenities and its unique shops and restaurants. Now that the dust has settled on the outcome of the 2014 Quebec election, confidence in the strength of the Quebec housing market continues to grow. Since the financial crisis of 2008, pricing in Westmount has been on an upward trend, however the number of days on market has nearly doubled in these seven years.

THE SNAPSHOT

Single-family home sales January 1st, 2015 – October 1st, 2015
– The number of sales year to date remains about the same – 114 sold in 2015 vs. 108 sold in 2014.
– The average sale price has not made a significant change and has only increased slightly from $1.536M to $1.586M, due in part to a few high priced sales.
– Inventory levels have gone up substantially, from 139 last year to 157 this year. The majority of this increased inventory is priced in the $1M-$1.5M category where there are 50% more houses for sale than last year at this time.

WHAT DOES THIS MEAN FOR YOU?

Buyers have more choice than ever before and can benefit from some better bargaining power when purchasing a home or investment property.

Sellers are up against higher inventory levels so it’s more important than ever to consider the 4 P’s: Preparedness, Pricing, Promotion and Patience.Prepare your house to be in good shape and looking the best it can be.Pricing your house right, relevant to comparable sales and cur- rent competition, is critical to making sure you attract offers.

Promotion on the web should be top marketing priority – this is where approx. 92% of homebuyers start their search.

Patience is key, as the average days on market has climbed from 89 days in 2008 to 141 days today and is higher as the price of a home increases.

If the 4 P’s are in place, a buyer will appear…and eventually so will that VENDU sign!Now that you have some valuable insight into the Westmount market, talk to us. We can help you figure out your next move.

Based on information from Centris.ca. This representation is based in whole or in part on data supplied by Centris.ca. Centris.ca does not guarantee nor is in any way responsible for its accuracy. Data maintained by Centris.ca may not reflect all real estate activity in the market.

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