Andy Dodge & Associates
Latest News
- July Sales: Taking a Breather
- June Sales: Serious Mark-downs
- May Sales: Suffering a Relapse
- April Sales: Holding Tight
- March Sales: Highs and Lows
- February Sales: Showing a Comeback
- January Sales: Not Much of a Start
- December Sales: Good Riddance
- October/November Sales: Under Water
- October Sales: Slow, again
Monthly archives
- July 2024
- June 2024
- May 2024
- April 2024
- February 2024
- January 2024
- December 2023
- November 2023
- October 2023
- September 2023
- August 2023
- July 2023
- June 2023
- May 2023
- April 2023
- March 2023
- February 2023
- January 2023
- December 2022
- November 2022
- October 2022
- September 2022
- August 2022
- July 2022
- June 2022
- May 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- November 2020
- October 2020
- September 2020
- August 2020
- July 2020
- June 2020
- May 2020
- April 2020
- March 2020
- February 2020
- January 2020
- December 2019
- November 2019
- October 2019
- September 2019
- August 2019
- July 2019
- June 2019
- May 2019
- April 2019
- March 2019
- February 2019
- January 2019
- December 2018
- November 2018
- October 2018
- September 2018
- August 2018
- July 2018
- June 2018
- May 2018
- April 2018
- March 2018
- February 2018
- January 2018
- December 2017
- November 2017
- October 2017
- September 2017
- August 2017
- July 2017
- June 2017
- May 2017
- April 2017
- March 2017
- February 2017
- January 2017
- December 2016
- November 2016
- October 2016
- September 2016
- August 2016
- July 2016
- June 2016
- May 2016
- April 2016
- March 2016
- February 2016
- January 2016
- December 2015
- November 2015
- October 2015
- September 2015
- August 2015
- July 2015
- June 2015
- May 2015
- April 2015
- March 2015
- February 2015
- January 2015
- December 2014
- November 2014
- October 2014
- September 2014
- August 2014
- July 2014
- June 2014
- May 2014
- April 2014
- March 2014
- February 2014
- January 2014
- December 2013
- November 2013
- October 2013
- September 2013
- August 2013
- July 2013
- June 2013
- May 2013
- April 2013
- March 2013
- February 2013
- January 2013
- December 2012
- November 2012
- October 2012
- September 2012
- August 2012
- July 2012
- June 2012
- May 2012
- April 2012
- March 2012
- February 2012
- January 2012
- December 2011
- November 2011
- October 2011
- August 2011
- July 2011
- June 2011
- May 2011
- April 2011
- March 2011
- February 2011
- January 2011
- December 2010
- November 2010
- October 2010
- September 2010
- August 2010
- July 2010
- June 2010
- May 2010
- April 2010
- March 2010
- February 2010
- January 2010
- December 2009
- November 2009
- October 2009
- September 2009
- August 2009
- July 2009
- June 2009
- May 2009
- April 2009
- March 2009
- February 2009
- January 2009
- December 2008
- November 2008
- October 2008
- September 2008
- August 2008
- July 2008
- June 2008
- April 2008
Search
November Sales: Slow but Steady
Download the Graph
The brief flurry of activity that was Westmount in October appears to have fallen back again, with only eight home sales in the month and no prices higher than $1,500,000. All but one of the sales exceeded the 2011 municipal evaluation; the average was 18 percent over tax value, slightly lower than the average so far this year, but certainly not severely lower.
Prices have not moved significantly for almost two years, but certainly the volume has suffered this year as buyers hesitate to commit themselves to the substantial prices — over $3 million for 41 houses in Westmount. So far this year 131 houses have sold, the lowest number of sales since 1994, just before the last provincial referendum.
What is perhaps surprising is that the average time on the market dropped from over 100 days in each of the last 12 months to 71 in November, with one sale over the asking price in four days and two more in less than three weeks. In only one case had the asking price been reduced while the house was on the market.
The month also saw the sale of four co-op apartments — two in Westmount Square — but only one condominium, a former duplex on Prince Albert Avenue. This brings to only three the number of condo sales in the fourth quarter of 2013, compared to 11 condo sales in the fourth quarter last year.
And if prices were fairly low in Westmount, they were hardly so in adjacent-Westmount areas, with one $3 million sale just east of the city limits and another at about $2.6 million on Redpath Crescent. There were also two house sales in the Circle Road area.
Rentals are up this year, with 33 houses so far renting for monthly rates between $2,600 and $9,000, compared to 28 last year, for rates of $2,300 to $8,400.
Let me take this opportunity to wish all the agents and real estate aficionados a pleasant holiday season and all success in the new year.
Posted by andy Posted in: Monthly Analysis
No Comments »
November 2013