Market Report For July 2011 In NDG, Quebec

Market Report For July 2011 In NDG, Quebec

Notre Dame-de-Grace (NDG) experienced an average month in July. 10 homes and 13 condos were sold compared with 11 homes and 13 condos last month. Rising prices on Montreal Island have increased the availability of condos in NDG. Condos sales had risen significantly in 2004 and again since 2008 with a peak of 302 sales in 2009.

Average sales values for homes of $477,800 this month being purchased at 97% of the asking value indicates high demand in this sector. Inventory levels support at a low 2.3 months. Days sold was high at 55 days over 27, 37 and 35 in April, May, and June respectively. Condos take longer to sell in NDG averaging 105 days this July. The spring rush month was February and again in April at 41 and 56 days. The market is holding in NDG for condos with 145 active listings and 11.2 months supply. There are some new multi-unit projects nearing completion on Sherbrooke St. West and more on the way.

Condo discount levels off asking price remain low at 4% this month which is normal for the last number of years. The average price of an NDG condo is low this month likely due to newer and smaller units registering at $276,846 over $357,147 and $417,389 the last 2 months. NDG has varied property types and ages ranging from duplexes and triplexes separated for individual sale and multi-unit properties anywhere from 90 years old to fresh construction.

Given it's proximity to all services, autoroutes and downtown along with reasonable pricing, NDG will continue to experience strong activity in the foreseeable.

John B. Joseph has over 20 years of business to business experience in the U.S. and Canada in business process improvement, sales, consultation, sales management and has been helping buyers and sellers in real estate since 2005.