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7346 RUE LOUIS-HÉMON, MONTREAL

The Globe and Mail

7346 RUE LOUIS-HÉMON, MONTREAL

ASKING PRICE: $1.17-million

SELLING PRICE: $1.17-million

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PREVIOUS SELLING PRICE: $1.198-million

DAYS ON THE MARKET: 134

TAXES: $6,217

LISTING AGENT: Félix Jasmin, Engel & Volkers

The Action: The home's unique characteristics and designer profile, combined with an asking price of more than $1-million, account for the length of time it was on the market, listing agent Félix Jasmin said.

"Homes of this type that come onto the market for the first time are a bit unusual for the area. I think this long a selling period is normal for a house that's somewhat atypical for the market."

Six interested buyers opted for a second visit, out of a total of about 30 visits. A convivial mood on visiting days was set with complimentary chilled rosé wine, cheese-and-fruit trays and music wafting from the speakers, Mr. Jasmin said.

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What They Got: Located in the family-friendly Villeray neighbourhood in Montreal's north-central sector, this designer five-bedroom house has the distinction of being the borough's first home to sell for more than $1-million, according to Mr. Jasmin.

Amenities include an 800-bottle glassed-in wine cellar, basement soundproofed home cinema, Jacuzzi, in-ceiling high-performance speakers on all three floors, handcrafted stairway made by two Quebec artisans and professional-grade kitchen with six-burner gas range. The house, built in 2013, is close to schools, parks, a hospital, bike path and public transit.

The Agent's Take: Some people not accustomed to $1-million-plus price tags for homes in the area may view this house sale as a classic example of "sticker shock" but it's not warranted, Mr. Jasmin says.

The home represents excellent value – it's located in an increasingly trendy neighbourhood and sold for about $400,000 less than if it were located in the more established, well-to-do borough of Outremont, he said. The market in Villeray and adjacent neighbourhoods is lively these days, he added. "There is a modest inventory because demand is high."

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