Year to year comparisons – and predictions for an early Spring market Philip Clement January 15, 2013 5288 Dear Montrealers, with 2012 behind us I am now able to provide a clear image of the year as a whole. Most areas of Montreal have done well compared to previous years and others have lost some momentum. The month of December has been a good month, and I continue to receive phone calls early in 2013, I believe we will have an early start to the spring market. Despite our historical snowfall during the holidays. In December Susan from NDG asked me to evaluate her home in order to sell it. I explained to her that a very important part of marketing a property is timing, Bringing a Property to Market, Open Houses, Brokers Inspections, advertisement, Exterior Signage … The use of proper timing for all of these items is important for success in fulfilling my mandate to my sellers. More so now because we are in a BUYERS market. I like to take things into perspective by studying elements that will help better understand my target market for each individual property. For example, I have a beautiful loft style condo coming to market this month downtown. Roughly 700 square feet with one bedroom, common areas and a pool. This will be most appealing for younger buyers, generally speaking my target purchaser will shop using online tools and social networking. Advertising will be important here, but understanding the method and habits of these buyers is just as important. Let me explain; if I am a 30 year old man, having decided that in 2013 I will be searching for my first investment in a property. I will scour the internet early for properties that will interest me using websites such as; realtor.ca, kijiji, craigslist, centris.ca, etc … Once I have done an initial sweep of current properties on the market I will continue to log on to these sites every night after work to see what new properties may be of interest. A new listing during this period will be very successful given that it is priced right and has many good quality pictures to offer me a visual. At this point I can compare with other homes I have seen, and my first question is not “why hasn’t it sold yet”. Getting back to my monthly report on what has happened in 2012. Because there are no sales yet registered in 2013, here is a summary of each of my target communities in Montreal. Basically comparing Single Family Homes Sold in 2012 with 2011. Montreal West In Montreal West we sold 13.6% less properties than in 2011 representing a difference of 6 homes. We also had a decrease of 2.3% in average selling price; keep in mind the largest sale in Montreal West was done in December 2011. Westmount Another decrease in the number of sales was registered here, down 3.8%. But we made up for it in value, properties sold for an impressive 12.1% higher than last year. Even though this number is slightly inflated due to a handful of key sales in the community, Westmount remains a good location for investments and should continue this way into our new year. Notre Dame de Grace NDG has done very well this past year, we have an increase of 8.1% in average sale price and another increase in the number of homes sold in this area (7% more). An all around strong market, buyers are present and NDG has a lot to offer. Pointe Claire Also with a strong steady pace, Pointe Claire is up and up. 4.8% more value for properties on average and 6.8% in quantity. Am looking forward to this year as we celebrate 300 years since the foundation of Pointe Claire in 1713. The Communal Mill was built in 1710. Beaconsfield Here we registered a fair increase of 4.3% in the value of homes sold, but we sold 18.5% fewer homes than in 2011. Beaconsfield was heavily impacted by politics and it is my experience that many owners migrated into the city to facilitate travelling to work and school. Hampstead Down 8.9% in number of sales and up 5.7% in average selling price. The decrease in quantity of sales is represented by 4 homes. Year after year properties tend to appreciate nicely, often the case in nice neighborhoods. Town of Mount Royal If slow and steady wins the race, then TMR is doing fine with 2.3% more properties sold and 1% increased average value. Instead of a roller coaster ride, this community continues to improve at a slow pace. Thank you for taking the time to read my column this month, your feedback and questions are always appreciated.
