December 2011: Year Ends with More Sales

December marks the 7th consecutive monthly increase in existing-home sales. Compared to sales from December 2010, in 2011 there were 7% more sales according to the Greater Montréal Real Estate Board (GMREB).

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From all the areas that had increases; Vaudreuil-Soulanges (+39%), North Shore (+28%), Laval (+9%) and the South Shore (+2%). Only the Island of Montréal had a decrease in sales (-4%).

Sales increased for all property categories.

  • Single-family homes 8%
  • Condominiums 6% and
  • Plexes 3%.

In terms of prices…

  • Single-family homes had a decrease in median price (-1%) to reach $260,000.
  • The median price of condominiums increased by 2% to reach $222,000,
  • Median price of Plexes went up by 5%, reaching $405,950.

In a nutshell, The Island of Montreal had more listings and less sales in December 2011.

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Image du Jour: White Plateau

If you live in Montreal you most likely woke up today and realized that winter is definitely here. The is doubt about that. If you are not in Montreal, then you missed waking up to a beautiful snow-covered city. Yesterday we had our first big snow fall. Well, not so big. But enough to make this park look like this…

I was walking driving all over town yesterday. I managed to take some wintery pictures
It looked like the Montreal I remembered when I first arrived here. Snowy streets by November. Slippery sidewalks. Happy winter everyone!

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BIXI: The Bike Sharing System Now in Montreal


It’s hard not to notice the new bike system if you live downtown. They are everywhere! So far we’ve seen them in Rosemont, Plateau, Villeray, Downtown and Old Montreal.

I haven’t really figured out the payment options from the on-site screen, even after I stopped (a few times) to read the options/payments, terms and conditions before deciding whether I want to take a bike ride or not. The whole thing can be quite confusing, and I wished they worded the instructions in a simpler manner.

It was only after I visited their website that I was informed of their different fees and options. Yearly and monthly fees, as well as “pay as you use”, which seems pretty fair as rates. Considering the fact that they will implementing more bike stations nearly in every corner of the Metropolitan area, it saves you in parking costs, gas, etc. For those who wanted to buy a bike for the summer, now you can just rent it for the days you need it. No worries about storage space and/or people stealing your bike. We all know that happens a lot in this city. Which makes me wonder: How long do you think it will be before these bikes begin to *miraculously* disappear?

And before I forget: There is already an iPhone application for BIXI mapping. I found their business card taped to the payment stations. Here is the link.

Other blog entries on bixi:

Have you tried Bixi yet? – Spacing Montreal

BIXI Montreal: Canada’s first public bike system -Rabih Dagher

Construction snooper update: ETS delivers before due date

Remember back in April when this building was still under development? They were aiming the grand opening for September this year.  This picture was taken just this weekend. And here we have it: completed, delivered and already occupied.
Yes, miracles do happen! – Mind you, the construction crew must be happy to finally finish this rush-hour job.

The bonus: instead of opening a food court as previously advertised, they ended up locking a lease with a major grocery store. No Inter-Marché here. Go big or home.

And notice the sleek glass wall dividing the building.  Very nice, indeed.
Not bad for a student housing!

Meanwhile, this guy across the street remains for sale. According to one of our readers, as he explained it in his comment, the owner is asking a bit too much for the piece of land:

“Well i can tell you why this piece of “prime land” is still for sale and neglected:
the owner – an old man who is in no rush to sell – asks $3,8 million for the building and the parking at back.
I inquired because the building itself interrests me and i had – notice the past tense here – i had a smooth idea to help bring some life in the area, but there is no way i can find 3.8 $M and expect to be profitable or even break even.
SO saddly this land will be bought by a huge contractor who will pop some souless commercial spaces at the bottom and put up as many condos as needed to be profitable on top.

My two cents :)

Ugo”

Today’s Image: Architectural Contrast

Photo: Nisroch

View from Rue de la Gauchetière facing Peel. The older building is Windsor Station. – Bernie.

The Montreal Real Estate Blog showcases outstanding images from talented local photographers. Images are licensed with Creative Commons 3.0 . If you’d like to submit your photography, please join our flickr pool.

Celebrity Condo: 333 Sherbrooke East.

333 Sherbrooke E. Phase 1

333 Sherbrooke St., East: a luxury condominium project designed to appeal to a clientele with an eye for quality and location.

In the heart of Montreal’s trendy Plateau neighbourhood, the development consists of 83 units in Phase I, 67 units in Phase II, and 30 townhouses linked to the property. The second phase of construction at 333 Sherbrooke St. East, was officially launched on April 1st 2008 by Richard Homburg, President and Chief Executive Officer of Homburg Invest Inc., the occupancy is set for autumn 2008. The $35 million second phase increases Homburg Invest’s total commitment to its Montreal portfolio to more than $1 billion over the past three years.

“Phase I is effectively sold out, and Phase II sales have surpassed the critical level needed to ensure the success of the project. Once completed, 333 Sherbrooke St. East will be a reference for luxury condominium living in downtown Montreal.” Mr. Homburg said.

To date, the project has attracted buyers from all over Europe, the United States and Canada.

“Location, location, location. Montreal is ideally situated as a major crossroads for European and North American trade and business,” Mr. Homburg continued. “Montreal possesses all the qualities of a major real estate market, from a large, well educated population to a solid transportation infrastructure to a growing economy supported by healthy activity in several key sectors, like aerospace, life sciences and information technology”

Source: NewsWire.ca

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Construction Snooper: ETS Student Housing.

In construction
When we saw the construction from this side of the building, the first thing that came to mind was “Yet another condo project.” But, as it turns out, it will be a new housing for the ETS students, located in the south-east corner of Rue Notre Dame and de la Montagne. According to the sign, it promises to deliver over 450 beds, food court on the first floor, etc. Not bad.

We found out from the workers, the project is expected to be ready by September 2008, although the sign says: Opening Summer 2008. They are only one month behind schedule, wow. Could this be the only project in Montreal that will open on time? We have to see it to believe it. We are keeping our eyes on it.

An interesting thing that will happen is the following: The project across the street [Read more...]

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