November 2012 NDG Condos Market Report
In November, there were 17 condominium sales in Notre-Dame-de-Grâce (NDG), as reported on MLS®, in line with last month’s 22 sales. Average sales price stayed in range for 2012 at $391,151. They were discounted off last ask price at an average once again for the year of 4%. Active listings remaining were 193 properties recording a high for 2012. The condos sold remained on market for an average of 74 days (DOM). The absorption rate on inventory was 11.4 months above last month’s lower number of 7.9 months while only 3 contracts expired.
The last 15 years has seen an explosion of multiplex conversions to condominiums and a steady rise in new construction of condominium buildings over the last 10 years. Each must be evaluated in the NDG sub-sector it resides in, against similar properties close by and I like to use price per square foot as well.
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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