Dear Montrealers, With the fall market well underway; I can comfortably say we are having a good year, hopefully a few more sales will be concluded before the holidays. My primary areas of business have performed quite well when compared to previous years. In NDG we have sold a similar number of homes with the same average selling price as 2014. Westmount on the other hand has seen an increase in number of sales and average selling price, which is refreshing. In Westmount to date – compared to 2014 – the average selling price is up by 3.2% and the number of homes sold up by 6.8%.

Montreal West has finally bounced back from a 3-year rut, now reaching new highs in terms of selling prices and number of sales. In 2013 I sold a property in this community for just less than 1.7 M which helped bring the average selling price above $464,000. We currently have an average selling price of $631,517, up 15% from last year, and we have sold 39 homes to date vs 30 in 2014 (30% more). We are seeing good numbers in sales, but the other side of the coin is that we also have twice as many properties for sale as we should in order to have a more stable market.

I recently had a discussion with a potential client of mine. “If a buyer tells me that they also like another property, let them go buy that one” she said to me. I answered her by explaining that this reply carries no threat in our current market situation. Not only do Buyers have an advantage at the moment, but Sellers should feel fortunate when an offer comes in. I hear every day how the Canadian market is in jeopardy, and that over inflation is becoming a problem. Well this is for the Canadian Market as a whole, not necessarily our current market in Montreal. Basically, going back to my potential client’s statement, after a short discussion, I told her she should rephrase that and say “Why would you buy that house, when you can buy this one” which carries more strength in our current market, and opens a buyers eyes to the advantages we can present them with. With this adjustment in attitude towards the market, my clients are selling their homes. Reality is that we must be motivated to sell; those who are not and can wait should do so. That’s just my opinion on the matter.

Montreal West

Real Estate

I love this community, small, quaint, with a tremendous amount of appeal for family oriented citizens. I hosted my first Open House in Montreal West in 2011. Since then I have educated myself, have participated in community events, and even made a couple friends. I have recently sold 2 more homes here in October and wish all my clients the best of luck with their future endeavors. I can now consider myself one of Montreal West’s Specialists in Real Estate. If you have any questions, are looking to sell your home, or would like to become part of this community, please call me I will be happy to help.

As always, I attach a small graph showing what the trend for sales is year over year, so here it is, please refer to paragraph 2 of this column for more detail.

Please feel free to call me if you are buying or selling in Montreal West, NDG, or Westmount, I will be happy to share my expertise.

Philip Clement: 514-708-4056 phil@pclement.ca

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