The low demand which has plagued Westmount since last September is finally having its impact on sale prices, which now have dropped some 10 per cent in the last six months. We are now looking at price levels equivalent to 2006, having lost all the momentum of the last two years.
Agents have reported 10 home sales in March — which is usually the busiest month of the year in Westmount, with an average of 24.4 sales. The total volume this year is only 25 one- and two-family dwellings, just over half the 47 reported in the first three months last year. Read More
The drop in MLS® sales evidenced over the last few months in the Montréal Metropolitan Area relented in March, registering a 12 per cent decrease compared to the same month last year. Property prices continued to increase slightly, with the median price of a single-family home reaching $227,000, reported the Greater Montréal Real Estate Board. “Spring is the busiest time of the year for the resale market, and 2009 should be no exception,” said Michel Beauséjour, FCA, Chief Executive Officer of the GMREB. “Interest rates are at their lowest ever, and consumer confidence is up. In March, 39 per cent of consumers said that now is a good time to make a major purchase, such as a property, compared to 28 per cent last month,” he added. Read More
