March volume pathetic

The list of real estate sales registered in March this year is one of the smallest in Westmount’s history, with only two single-family dwellings and a duplex, two condominiums and two other sales.

Volume of three one- and two-family dwellings is the lowest for a March in 38 years of keeping records, and the lowest monthly volume since only two sales were registered in December, 1994. Coupled with one condo sale in January, the three condominium registrations matches the number in the first quarter of 2007 and is higher than only one sale in the first three-month period of 2003, but otherwise is the lowest in the past 11 years.

By far the highest price was $1,300,000 for 365-67 Redfern Avenue, a former elegant single-family dwelling which was transformed into a duplex several years ago and could easily be transformed back into a single-family house. Lowest price was $640,000 for 77 Stayner Street, while the $1,027,500 paid for 631 Roslyn Avenue represented slightly less than its municipal tax value of $1,030,800, the only markdown of the month.

The condominiums included 436 Claremont Avenue, part of a former triplex, and 273 Melville Avenue, part of a former duplex, both of which sold in a range of $390,000 to $420,000. Also sold was a co-operative apartment, Apartment 1 at 17-19 Chesterfield Avenue, which sold for $400,000, roughly the same price range as the condos.

One more commercial condominium inside 1 Wood Avenue/4055 St. Catherine Street changed hands in March, this time for $32,000 for a double-unit, the first resale since the commercial condos were sold off after being seized for taxes two years ago. To date about a dozen of the units have been sold for prices ranging from $1,700 to $16,000.