August saw two sales over $3 million

Top price in the month involved 39 Aberdeen Avenue, a large brick two-storey house on more than 17,500 square feet of land, totally renovated, whose buyers declared the “value of the consideration” as $3,386,000. This was nearly matched by the $3,150,000 paid for 50 Belvedere Place, a three-storey brick structure on the north side of Belvedere Place. Those were the only multi-million dollar homes to change hands in August, but seven others topped the $1 million mark.

On the low side, two houses went for less than $600,000, including 34 Winchester Avenue whose $512,500 price was actually 9 per cent less than its municipal evaluation; 113 Blenheim Avenue changed hands for $551,000. The Winchester markdown was not the lowest of the month, that honour went to the buyers of 3244 The Boulevard, opposite Braeside Place, which was evaluated for $845,100 but sold for only $700,000.

A total price of $22,866,000 was paid out for 20 single-family homes in Westmount during August, less volume than June or July but offering an average price of $1,144,300, and an average markup of more than 25 per cent. If the “typical” Westmount house with a valuation of $998,480 were compared to that ratio, it would have a value of more than $1,250,000 and still climbing.

Five condominiums sold in August, mostly duplex- or triplex-type units and only one regular apartment, at 4476 St. Catherine Street, which actually was the lowest price of the month at $320,000. The upper unit at 466 Argyle Avenue sold along with the basement apartment and a parking space for a total $600,000, a price topped by 314B Kensington Avenue which went for $635,000.

Two of the four co-owners of a triplex at 3157-61 St. Antoine Street sold their shares of the building to the other co-owners, while the ground-floor unit at 442-44 Grosvenor Avenue changed hands for $300,000. One more apartment in the triple-building at 435-39 Grosvenor also sold in August, this time for $322,500.

The Sheriff of Montreal sold off eight small retail outlets inside the ground floor of 1 Wood Avenue at rock-bottom prices ranging from $4,000 to $13,000 to four buyers, almost all for much less than their municipal evaluations. The interior commercial space constructed for that huge building has never had much activity and one owner, Nick Nanas, relinquished his units for non-payment of taxes back in March.

One other sale of interest involved a property at 3787 Grey Avenue in Notre Dame de Grâce which also included a small piece of land in Westmount. Back in the 1800’s the driveway for the huge Monklands estate ran north from Côte St. Antoine Road, west of Victoria Avenue. In the early 20th century, Grey and Claremont Avenues were developed and Notre Dame de Grâce Boulevard provided access to the driveway, so the lower section was abandoned and portions of land were parceled off to the owners on either side. It appears some of the Westmount land actually belongs to some of the Grey Avenue properties, but it has not been re-cadastered like most of the rest of the land in the area.