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 sold 99 homes which is approx. 2/3 of the inventory we’re likely to sell this year.
• The avg. sale price YTD is $1,526M, a little higher than the average price in 2015.
• In the first 6 months of 2016 we had 14 houses sell over $2M, which is in line with what happened last year.
• $460k was the lowest sale YTD. $5,780M was the highest sale YTD.
• A look at what’s left on the market reveals that there are 131 homes currently for sale and roughly ½ are listed under $2M with the balance asking $2M or more…$2-3M = 33 homes, $3-4M = 14 homes, 4-5M =8 homes, 5M+ = 9 homes.
• There are a whopping 4 homes asking over $8M with the highest priced home asking $10.8M.
• This luxury priced inventory has jacked the average asking price of a single-family Westmount home to $2.7M but the median asking price is about $1M less than that at $1,750M.
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