Improvements have been made to the galley-style kitchen, such as quartz countertops, mosaic backsplashes and stainless steel appliances.Re/Max Realtron Realty Inc.
The action
Spring-like weather and a lack of high-rise inventory around Mel Lastman Square aligned to give this one-bedroom plus den unit a boost in March. Six buyers, all intending to live in the condo rather than purchasing it as an investment, made offers. The highest bid came in $52,200 over the asking price, with a closing date of May 15.
“With the weather being on our side – it was relatively warm – sales being slow in the winter, and hopes that [mortgage] rates would go down, we decided to go low on our price to test the market,” said agent Sam Ahn.
“Half the offers were very competitive, so it was hard to choose among the top three offers.”
‘The biggest selling feature was the view,’ says listing agent Sam Ahn.Re/Max Realtron Realty Inc.
What they got
On the sub-penthouse level of a 22-year-old building, this 667-square-foot unit has an open living and dining area with a wall of windows and an enclosed den with sliding doors to a balcony.
Improvements were made in the four-piece bathroom and galley-style kitchen. For instance, the latter features quartz countertops, mosaic backsplashes and stainless steel appliances.
The unit comes with laundry machines, plus a storage locker and parking spot. Monthly fees of $609 cover utilities, concierge, and use of a gym and party room.
This 667-square-foot unit has an open living and dining area.Re/Max Realtron Realty Inc.
The agent’s take
“The biggest selling feature was the view. It was a west-facing, unobstructed view on a high floor,” said Mr. Ahn.
“It’s not a trendy building, but a building with a good reputation and it’s well managed. Having a low maintenance fee was also a key feature, and it included all utilities, which is rare to find nowadays in new condos with meters.”
OTTAWA – The Canadian Real Estate Association says the number of homes sold in August fell compared with a year ago as the market remained largely stuck in a holding pattern despite borrowing costs beginning to come down.
The association says the number of homes sold in August fell 2.1 per cent compared with the same month last year.
On a seasonally adjusted month-over-month basis, national home sales edged up 1.3 per cent from July.
CREA senior economist Shaun Cathcart says that with forecasts of lower interest rates throughout the rest of this year and into 2025, “it makes sense that prospective buyers might continue to hold off for improved affordability, especially since prices are still well behaved in most of the country.”
The national average sale price for August amounted to $649,100, a 0.1 per cent increase compared with a year earlier.
The number of newly listed properties was up 1.1 per cent month-over-month.
This report by The Canadian Press was first published Sept. 16, 2024.
MONTREAL – Two Quebec real estate brokers are facing fines and years-long suspensions for submitting bogus offers on homes to drive up prices during the COVID-19 pandemic.
Christine Girouard has been suspended for 14 years and her business partner, Jonathan Dauphinais-Fortin, has been suspended for nine years after Quebec’s authority of real estate brokerage found they used fake bids to get buyers to raise their offers.
Girouard is a well-known broker who previously starred on a Quebec reality show that follows top real estate agents in the province.
She is facing a fine of $50,000, while Dauphinais-Fortin has been fined $10,000.
The two brokers were suspended in May 2023 after La Presse published an article about their practices.
One buyer ended up paying $40,000 more than his initial offer in 2022 after Girouard and Dauphinais-Fortin concocted a second bid on the house he wanted to buy.
This report by The Canadian Press was first published Sept. 11, 2024.
MONTREAL – The Quebec Professional Association of Real Estate Brokers says Montreal-area home sales rose 9.3 per cent in August compared with the same month last year, with levels slightly higher than the historical average for this time of year.
The association says home sales in the region totalled 2,991 for the month, up from 2,737 in August 2023.
The median price for all housing types was up year-over-year, led by a six per cent increase for the price of a plex at $763,000 last month.
The median price for a single-family home rose 5.2 per cent to $590,000 and the median price for a condominium rose 4.4 per cent to $407,100.
QPAREB market analysis director Charles Brant says the strength of the Montreal resale market contrasts with declines in many other Canadian cities struggling with higher levels of household debt, lower savings and diminishing purchasing power.
Active listings for August jumped 18 per cent compared with a year earlier to 17,200, while new listings rose 1.7 per cent to 4,840.
This report by The Canadian Press was first published Sept. 6, 2024.
