December 2012 NDG Condos Market Report
Thirteen condominiums sold this December in Notre-Dame-de-Grâce (NDG) as reported on MLS®. On average, sales prices were lower for the year at $284,194. Discounting off the last asking price at 1% showed high demand for this property type again in 2012. Projects at on Sherbrooke St. W, Cavendish, Monkland and Upper Lachine made up the bulk of these sales and it is likely more were sold than we see reported on MLS®*. The remaining active property listings of 166 properties made 2012 a record year for condominiums in NDG raising the 10-year average by 3.7%. Condos sold this December remained on market an average of 83 days (DOM) while the absorption rate for inventory supply was 12.8 months. Ten contracts expired this month to close out the year.
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).