Although market statistics for January typically show lower sales and overall activity, this January was noticeably quieter than last year and seemed to be on pause for many buyers and sellers.
Overall sales on the Island declined by 15%, with 22% fewer homes sold, and 17% fewer condo sales. That said, one slower month is not necessarily indicative of a troubled market. We’ll need to see how the next few months unfold to properly identify a trend.
Interestingly, this is not what my team and I have been experiencing on our end.
In fact, we just had our best January in 16 years, with 20 total transactions and $17 million in real estate sold. We’ve also seen multiple bidding wars break out across several of our listings, from condos to townhouses to commercial properties.
The most notable transaction was our listing at the iconic 4545 Notre-Dame Ouest, a building owned by Desjardins since its construction in 1966, designed by renowned architect Henri Brillon.
We launched an extensive marketing campaign in the Fall for this exceptional property, and while activity naturally slowed during the holidays, momentum returned quickly in the new year. Multiple offers followed, and in the end, the property sold for more than asking into the six figures. A fitting conclusion and rebirth of such an emblematic building. Its buyers are proud owners of something truly one of a kind, a property that simply cannot be replicated anywhere in Montreal.
Just wait till you see what they plan to do with it!