October 2012 Westmount Homes Market Report
By John Joseph
October 2012 Westmount Homes Market Report This October, 7 homes sold in Westmount as reported on MLS®. Prices ranged from $685,000 in the Village to $2,800,000 on the summit near St. Joseph’s Oratory. Three sales were under $1mm and two exceeded $1.5mm. These sales were sold at this year’s lowest average days on market (DOM) of 39 days! This is faster than our last best month DOM of 46. The average sales price was $1,358,571 for the 7 sales with an average discount off the last ask price of 9% which is the second lowest average discount level for 2012. This October, five contracts expired, and the fall season continued with 33 new property listings coming to market bringing active property inventory up again this month to 135 from 114 last month. These numbers have raised the absorptio...