April Sales: Goin’ No Place

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My high school had a group of jazz singers put out an album with the title of “Goin’ No Place,” which I would suggest describes accurately the current Westmount real estate market. Though volume is quite strong, with 51 sales posted for the first four months compared to 44 last year and 41 in 2023, in general we find average prices heading north in the spring months each year and south in the fall, though of course there are differences, particularly in the precise shape of each graph.

In the latest report, agents posted an extra eight sales that took place in March, along with 14 single-family sales negotiated in April, ranging in price from $995,000 to $3,550,000, the latter having been achieved twice. March and February each had sales at or above $5 million; March had one sale at $750,000, but April reports sales of $995,000 and $729,000, the first time since June of 2024 that there has been more than one sale less than $1 million. These statistics helped bring down the adjusted price of Westmount’s “typical” house, though the highest mark-up in April was 70.1 percent, the highest so far this year. Of the 14 sales, four were at or above the asking price; the median days-on-market was 17 days, and six were sold in 12 or less days.

Four condominiums sold in April for an average $655,750, all apartment-building units and quite small ones, none bringing a price of more than $1 million, unlike in the previous three months when 16 condos averaged $1,350,688 and 10 prices were over $1 million.

While the last three months have seen interest inside the city limits, agents report five house or share-sales in the lower Côte des Neiges area, four in eastern Notre Dame de Grâce, two in the Trafalgar-Daulac area, and, perhaps significantly, three in Shaughnessy Village, which posted only one house sale in all of last year. The current active list shows 134 houses for sale in Westmount, but — after three under-$1 million sales in March and April — the lowest asking price now is $1,245,000. Houses asking between $3 and $4 million jumped from 20 to 26 in the last month.

So far 12 house rentals have been posted by agents this year, and there are still 18 on the market, ranging from $3,195 per month to $12,000, though previously there have been rates as high as $25,000 per month.

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

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