Dear Montrealers, I would like to thank you all for the time you took last month to read my first column. I have received positive feedback and I would also like to encourage you to communicate with me any questions you may have about “your” real estate situation. To start off I will address a familiar question I received from one of my readers last month.

William asked how the real estate market was going. The real estate market in the province as a whole is going well. That being said, we are in a transitional phase at the moment, many elements in 2012 have impacted the market to cause this slow transition to a more dominant Buyers Market.

What that ultimately means is that more and more people are putting their properties on the market, with fewer buyers present in 2012. The Real Estate Market is either going to be a Stable market, Sellers market, or Buyers market. A stable market is the ideal situation because most people are both buyers and sellers (they need to sell their home in order to move into one that better fits their situation).

I expect this “New Market” to be more clearly defined come the first months of 2013, just in time for the spring market. In the New Year, it will be very important to have a clear and defined strategy to sell your property. Early preparation will be key for success. During the fall, it is much easier to get some cleaning, decorating, painting, and minor renovations done than during the winter, especially for exterior work.

This month I will be looking in depth into three markets; NDG, Pointe Claire, and Beaconsfield.

Notre Dame de Grace

In NDG, we have more sales recorded in the end of October than in 2011, and we also have a significant increase in the average sale price, this remains a very strong market and should continue to do well as we head towards the end of the year. In 2012 we have recorded a 6% increase in the number of homes sold in the year compared to last year. We also have an 8.8% increase in average sale price for these homes.

Pointe Claire

The market in Pointe Claire continues to do well with a significant yet stable increase year after year. The average sale price has increased by 5%. And the number of homes sold during this year is also up by 7% compared to last year. Pointe Claire has not lost its strong momentum as seen in this graph.

Beaconsfield

The Year began slowly but quickly adjusted itself to follow the usual pattern, as in most communities in 2012. You will notice by my graph that the difference in sales is significant in September and October. Nothing alarming, but we have a decrease of 16% in the number of sales concluded in 2012 versus the previous year. The average sale price however has been reduced by a minuscule 0.03%, so should be considered unchanged. Let’s take advantage of the last two months and the new market to come.

As a conclusion I would like to invite each and every one of my readers to send me their inquiries, I will choose one question each month and reply to it in my upcoming column. Also I would like to offer my services and my knowledge to help you in the upcoming New Market. A change in market will also require a change in strategy to attract interesting buyers. And if you are a buyer, my knowledge of markets on the island of Montreal may prove to be an important asset for you.

Philip Clement
514-708-4056;
[email protected]
www.pclement.ca

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