In spite of uncertainty introduced by a balancing real estate market and the possibility of Quebec's Federation of Real Estate Boards (QFREB) leaving the Canadian Real Estate Association (CREA), the second half of 2012 saw listings of homes over one-million dollars increase by 19 per cent over the same period in 2011 to 473 homes. In the second half of 2012, Montreal reported a 9 per cent sales decrease with 165 sales exceeding a million dollars compared to 182 in the same period in 2011. Homes over one million dollars spent an average 127 days on the market with 3 per cent selling over the asking price. Demand for appropriate listings in top-tier neighborhoods like Westmount remained strong. Comparing the full year of 2012 to 2011, the inventory of homes listed in the million-dollar plus segment of the city increased by 14 per cent to 1,129 listings, while the number of homes sold in the same category increased close to four per cent over the same 12 month period to 392.
According to Sotheby's International Realty Canada CEO, Ross McCredie, "Our findings for 2012 point to the stability of Canada's high-end real estate market. Even when faced with tighter lending controls and struggling international economies like Europe, the value, stability and momentum of luxury real estate in Canada is still seen globally as one of our strongest assets."
For more information and details on Sotheby's International Realty Canada and the Top-Tier Real Estate
Report visit http://www.sothebysrealty.ca/blog/2013/01/08/real-estate-report.
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About Ascension Health Ventures
Ascension Health Ventures was launched in 2001 as a wholly owned subsidiary of Ascension Health. Today it is a subsidiary of Ascension Health Alliance, a parent company formed in 2012. AHV's role is to construct and manage a strategic portfolio of investments that deliver a venture investment return, have the potential to transform the healthcare industry, and significantly enhance the experience for patients, their families and their caregivers. AHV has three venture funds under management and its limited partners include Ascension Health Alliance, Catholic Health East, Catholic Health Initiatives, Decatur Memorial Hospital, Dignity Health, Intermountain Healthcare and Mercy. For more information, go to www.ascensionhealthventures.org.
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