Market went up in September

The highest price for a single-family dwelling involved 21 Ramezay Road which sold for $1.85 million, which was, in fact, slightly less than its municipal evaluation, the only markdown of the month.

Even without high-priced sales, the 13 transactions averaged $1.15 million, up from $1.14 million in August, though the average mark-up dropped from 25.4 per cent in August to 18.2 per cent in September. Besides the Ramezay sale, individual markups ranged from 0.5 per cent in the $925,000 sale of 3606 The Boulevard to almost 69 percent in the $725,000 sale of 4134 Dorchester Boulevard. The latter was the second-lowest price of the month, undercut only by 552 Lansdowne Avenue which went for $633,000.

The September list includes two condominiums, both at 1 Wood Avenue, while a condo at 426 Mount Stephen Avenue is included but actually took place in August. The 1 Wood apartments sold for $875,000 and $1.18 million, the two highest prices for Westmount condominiums since a top-floor apartment at 285 Clarke Avenue sold for $2 million in June.

Also at 1 Wood, four more retail outlets were sold by the Sheriff of Montreal who had seized a large number of them back in March. The retail section of 1 Wood was designed to become part of a network of commercial outlets stretching from Alexis Nihon Plaza to Westmount Square, but the connection to the tunnel was cut off soon after the building was constructed and the retail section has languished for almost two decades. The four deeds in the September list actually were signed on Aug. 28, along with eight others reported last month, and almost all sold for far less than their municipal evaluation except one which had a price of $8,000 and an evaluation of $7,400. Another deed involving another of the outlets was signed in July, but apparently the names of the buyer and seller were switched so the deed was corrected and re-registered in September.

The large commercial/apartment building on the northwest corner of Sherbrooke Street and Claremont Avenue brought its owner $6.5 million, some 43 per cent more than the municipal evaluation. The building last sold in 1996 when it brought $3.05 million.

The only other sale involved a 50-per cent share of 123-25 Irvine Avenue along with the exclusive use of 123 Irvine and a parking space.

The 13 residential sales in September brought the year’s volume to 163 in the first three quarters of the year, the highest volume since 1999.