December Sales: Pulling Back

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Real estate agents have posted only five Westmount sales for the month of December, all of which had prices lower than their municipal evaluations, and all of which were for prices less than $3 million. Tardy agents added another six sales to the November list, but once the extreme sales are removed and the values adjusted, it appears the market has been moving steadily downward since September.

Despite the fact there were two sales over $10 million in November, exactly half of the 16 sales that month were for less than valuation, a factor which has been growing more and more common as 2024 drew to a close. The tally of five single-family homes in December is an indication of the market winding down during the holidays, but the fact there are still — in early January — 95 houses on the market shows that buyer interest may be waning somewhat, the same number as January 2019, but otherwise more than any start-of-year volume since 2016.

Two more houses were rented in December, bringing the total house rentals for the year to 46, the most since we began keeping records of rentals in 2016. This year’s rents range from $2,495 to $25,000 per month; the 18 still on the market are asking anywhere from $4,500 to $20,000 per month. In adjacent-Westmount districts, only two houses sold, one on Roslyn Ave. north of the city limits, one on Jean-Girard Ave., just east of9 Delavigne Rd.

One co-op apartment at the Gleneagles Apartments, 3940 Côte des Neiges Rd., was sold in December, as did one condominium apartment next door at the Trafalgar A[partments, 3980 Côte des Neiges Rd. We have tallied four sales at the Gleneagles in 2024, and three sales at the Trafalgar.

May 2025 bring a successful — and fair — Westmount real estate market. Happy New Year to all!

Posted by andy Posted in: Monthly Analysis No Comments » December 2024