Prices rebounded in December

That hike brought the ‘typical’ Westmount house value to a new high over the $1,200,000 mark, in a month which saw six sales of homes between $690,000 (305 Grosvenor Avenue) and $2,950,000 (635 Sydenham Avenue). The former was completely renovated by owners who had purchased it in October, 2004, for $591,000; the latter was also extensively renovated but the $2.95 million sale price pales in comparison to the $5,590,000 paid out for 619 Sydenham Avenue a year earlier.

The Sydenham sale provided the cash for the purchase of Apt. 2101 at 1 Wood Avenue, at $2,125,000 the third-highest price ever paid for an apartment in that building and more than double its municipal evaluation of $892,500. In the fourth quarter of 2006 there were five condos sold for prices as low as $255,000, but including one other high-rise condo which went for $1.6 million in November.

One final deed registered in December involved the former Westmount Fire Station No. 2, corner Victoria Avenue and The Boulevard, which went to a numbered company presided over by Tony Elian, sale price $1 million. The building, which is next door to the new Westmount One project (which is in the City of Montreal), was sold by the City last July and various plans for conversion to residential use have been put forward.

A review of the entire 2006 sales records will appear in the Examiner’s May real estate section.

NOTE: The preceding article relates to the registration of deeds of sale for Westmount property in December, 2006, provided by city officials.