October 2012 NDG Homes Market Report

This October MLS® reported 12 home sales in Notre Dame-de-Grace (NDG). The sale prices ranged from $320,000 for one of the war time detached houses on St. Ignatius to $980,000 for an attached townhouse on Decarie beside Villa Maria metro. 6 contracts expired this October and 19 new homes came to market bringing the active homes on market to 52, down from 55 last month.

Average home sale prices were up this month to $584,500 and homes stayed on market for 40 days (DOM) on average, lowering the absorption rate for property inventory to 4.3 months, more near the average for this year. In line with the fast turnover of inventory, discounting followed at only 2% off the last asking price on average.

Prices and sales delays on market reported above will change the averages mentioned in the report depending where they are located in NDG along with a home’s type and size. Clear variances from sector to sector occur if the home is located in the denser, more frequently attached home, multiplex sector below Sherbrooke Street, or bordering the Decarie expressway, quite different again when tucked up beside Westmount (Westmount adjacent) East of Decarie and where the home is between which East/West Streets moving up the hill. Sectors vary on the West side of Decarie above Sherbrooke in what is now referred to as the Monkland village or the lesser known Somerled village and Fielding West of Grand boul.

In outer areas again, housing types and prices vary for homes near Cote St Luc and Chester or near Concordia University. Understanding neighbouring housing will help determine price levels in individual NDG sub-sectors.

More complete market information relevant to your personal needs and goals is available. These statistics, as reported on MLS® are presented monthly for a comparative view of local neighbourhoods. Private sales, sales that are reversed and sales not yet confirmed are not included. Complete statistics are available to clients purchasing or selling their property(s).

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Tagged as: Homes, Market Report, Montreal, NDG, Notre Dame-de-Grace