What does market value mean?
Market value is the most probable price a well-informed buyer would pay in a competitive market, assuming neither party is under unusual pressure. It is different from a seller’s desired price, a neighbour’s asking price, the amount spent on renovations or an automated online estimate.
1. Recently sold comparable properties
The direct comparison method begins with properties that have actually sold—not simply homes currently advertised. Strong comparables are similar in location, architectural style, living area, lot size, bedrooms, bathrooms, garage, age, condition, renovations and date of sale.
A comparable rarely matches perfectly. Differences need to be weighed using market evidence and professional judgment.
2. The exact DDO location
Two homes with similar dimensions can have different values because they are on different streets. Buyers may weigh an interior street versus a high-traffic road, proximity to parks and schools, access to shopping and transportation, noise, lot orientation, privacy, walkability and the surrounding properties.
A general West Island average cannot fully capture the differences between individual Dollard-des-Ormeaux streets.
3. Home style, size and layout
Split-levels, bungalows, two-storey homes and raised bungalows attract different buyer groups. Above-ground living area, bedroom sizes, layout, finished basement, garage, lot dimensions, backyard usability and natural light all matter.
Square footage alone does not determine value. An efficient smaller home can be more appealing than a larger property with a difficult layout.
4. Renovations and overall condition
Updates to kitchens, bathrooms, windows, roofing, electrical systems and heating or cooling equipment can influence what buyers will pay. But renovation cost does not translate dollar-for-dollar into market value.
The return depends on the improvement’s quality and age, permits and invoices, buyer expectations, the rest of the home’s condition, personalization and how the improved property compares with its neighbourhood.
5. Flooding, water infiltration and infrastructure history
A property-specific history of water infiltration, sewer backup, drainage or flooding can affect buyer confidence. The impact depends on what occurred, the cause, how it was corrected, available professional reports and invoices, preventive measures, insurance involvement and whether the problem reoccurred.
A past event does not automatically define a home’s value. Clear documentation, professional repairs and effective prevention can materially change how buyers assess the risk. Each case should be evaluated using the seller’s declarations and the facts specific to the property.
6. Current competition
Sold properties show what buyers have paid. Active listings show the alternatives available to buyers today. When several similar DDO homes are listed at once, condition, location and price positioning become especially important.
7. Municipal assessment versus today’s market
The City states that the value on Dollard-des-Ormeaux’s 2026–2028 assessment roll reflects market conditions as of July 1, 2024 and normally remains unchanged during the three-year roll unless changes are made to the property.
The assessment can differ from a current selling price because market conditions may have changed, recent improvements may not be fully reflected and buyers may value condition and location differently. It is useful context, but it should not establish the listing price by itself.
8. Why an in-person evaluation matters
Photographs and automated estimates may not reveal renovation quality, natural light, layout, traffic exposure, privacy, odours, moisture concerns or how the property compares with today’s competition. An in-person visit makes it possible to understand the home before selecting and adjusting comparables.
My advice to DDO homeowners
- Review relevant recent sales.
- Examine active competition.
- Consider the exact street and location.
- Assess the home’s current condition honestly.
- Request an in-person market evaluation.
A strong pricing strategy should reflect the property, current buyer behaviour, the competition and the seller’s timing—not a single number from the assessment roll.