Market Analysis – Refuge 279 as at June 23rd, 2018



 As at June 23rd 2018, here are the Refuge des Cerfs 279 comparables:

 

In the past 12 months there were 4 homes sold and one parcel of land sold…here is a logic based analysis….

 

(+) = better than the Refuge 279

(-) = inferior to the Refuge 279

(=) = equal to the Refuge 279

 

Refuge 279

Asking $949,000 + taxes

Bedrooms: 7

Bathrooms: 3 + 1

Square feet of the home: 4030

Square feet of the land: 24,000

Municipal evaluation: $926,000

 

1. Land sold for $395,000

*21,000 square feet (-)

 

2.Refuge 193

Sold for: $1,400,000

Bedrooms: 5 (-)

Bathrooms: 2+1 (-)

Square feet of the home: n/a

Square feet of the land: 17,567 (-)

Municipal evaluation: $1,092,800 (+)

 

*Data suggests the Refuge 279 has more to offer, and can be purchased with a favourable margin of $310,000 below the sale price of Refuge 193.

 

3.Refuge 241

Sold for: $1,250,000

Bedrooms: 5 (-)

Bathrooms: 3 + 1 (=)

Square feet of the home: 3000 (-)

Square feet of the land: 19,193 (-)

Municipal evaluation: $1,033,500 (+)

 

* Data suggest the Refuge 279 has more to offer, and can be purchased with a favourable margin of $160,000 below the sale price of Refuge 241

 

4.Refuge 235

Sold for: $875,000

Bedrooms: 5 (-)

Bathrooms: 4 + 1 (+)

Square feet of the home: 5000 (+)

Square feet of the land: 22,000 (-)

Municipal evaluation: $1,029,000

 

*The living room in this property is a significant factor which diminishes the value of the home…it is too small in proportion to the home. To rectify the situation you either need to redo the entire staircase or expand the living room which means moving the exterior walls of the home and changing the roof line.

*Refuge 279 only requires interior design and cosmetic work to help continue raising its value…

 

——-

 

A comparable from a year and a half ago:

 

5. Refuge 267

Sold for $1,025,000

Bedrooms: 6 (-)

Bathrooms: 4+1 (+)

Square feet of the home: 3800 (-)

Square feet of the land: 40,661 (+)

Municipal evaluation: $1,005,200 (+)

 

*Refuge 267 offers a somewhat similar experience…it was kept in immaculate condition…offered more land…situated on the same street…however the Refuge 279 offers more bedrooms, and no road noise from Duplessis…

*The sale of the Refuge 267 was a year and a half ago…it would warranted a higher sale price today…and thus also supports a raise in the value of the Refuge 279 as well.

 

—-

 

Summary:

 

At the purchase price of $949,000 + taxes, the Refuge des Cerfs 279 offers a large margin to improve the property with interior design and cosmetics, remain under the total investment price of the Refuge 193 by $310,000 and Refuge 241 by $160,00, offer more bedrooms, more bathrooms, more land than the comparable sales…and still be able to buy before an anticipated upswing in the prices of the homes in the Refuge des Cerfs.

 

Do not hesitate to get back to me should you have any questions…

 

Categories: Private