Market Report For Notre Dame-de-Grace (NDG) Montreal For March 2010

Market Report For Notre Dame-de-Grace (NDG) Montreal For March 2010

NDG home sales in March 2010 reported 20 sales with a slightly lower average of $ 528,052 in a sector with short supply of 26 active listings. This in a sector with homes and condos totalling over 12,000 and when I add the active condo listings of 115 it is still kind of slim.

March sales discounting is remaining high at 97% of asking and hovered there since at least July 2009 give or take a percent or two. What I find impressive is that homes are selling this month at 144% of their total evaluation, a record for the last 8 months at least.

Inventory is the lowest we’ve seen this year at 1.3 months on 26 active listings while maintaining a lower than average 44 days on market. High demand is spurring on frequent multiple bids and selling over asking price are keeping up the average discount and low days on market.

Condos in this market are principally duplex homes that have been converted in to either undivided or divided co-ownership allowing each dwelling to be sold separately. These are the most popular sales in NDG seeing a record 35 sold this month! Only July and August of last year saw similar numbers at 29 and 28 units sold.

An average sales price of $ 314,651 brought us back to levels not seen since October and December 2009. This month the average sales discount rose to 98% and it was hot in the shade when we notice these sales were done with 3.3 months worth of inventory.