June Sales: On the Rebound

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Market recovery is definitely underway in Westmount, with agents catching up on sales they made earlier in the spring, coupled with a dozen sales agreed to in June, of which only three were under $2 million and the average monthly mark-up over municipal value was 20 percent, compared to averages for the previous two months of 13.9 percent and 7.0 percent, respectively. One more sale in April bought that month’s total to 20 house sales, the busiest single month since September, 2020; May saw what are now 13 sales posted by agents, in a stunning average of 38 days on the market (five of those within two weeks of listing), the fastest turn-around time since May of 2022. Then in June, the numbers indicated the highest mark-up over valuation since July, 2023, and, other than that one statistic, the highest mark-up since the 2023 valuation roll came into force.

Individual June sales show no outstanding transactions: prices ranged from $1,500,000 to $3,692,500, so June had none of the $6 million-plus sales of either April or May, but it is quite evident that we are now closing in on an average $3 million.

The number of houses up for sale in Westmount did not drop by much, from 148 in May to 146 in June, only two going for less than $1 million and 32 more between $1 and $2 million. The bulk of listings, 42, are asking between $2 and $3 million. There are still 25 Westmount houses asking between $5 and $10 million, with another 10 asking eight digits.

The second quarter of 2025 presented a modest market for condominiums, with 11 sales, of which nine were for less than $1 million. Only two — both at 1 Wood Ave. — went above that mark, with one selling over $3 million. The lowest price, for a very modest studio apartment, was $350,000. The price:valuation ratios ranged from -9.6 percent to +27.2 percent, with an average of seven percent. Only one of the condos involved a converted duplex; all the others were scattered in various Westmount apartment buildings.

Sales in adjacent-Westmount areas were fairly well balanced, except that only one house sale was posted in the Trafalgar-Daulac neighbourhood, just east of the city limits. That involved a house that sold for $5,500,000, almost double the city valuation. Added to five other sales in that district this year, the six average 45.5 percent above valuation, by far the highest ratio of any of Westmount’s five adjacent districts. So far this year, the tallies include five sales in the “Golden Square Mile” east of Côte des Neiges Rd.; two in Shaughnessy village; 11 in Notre Dame de Grâce (east of Décarie Blvd.) and nine in southern Côte des Neiges (south of and including Queen Mary Road).

Posted by andy Posted in: Monthly Analysis No Comments » June 2025

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