MLS Barometer - Residential Market. Highlights. Montréal Metropolitan Area. Second Quarter 2010

Transcription

1 Montréal Metropolitan Area MLS Barometer - Residential Highlights Sales Decrease After Two Hectic Quarters Island of Montréal: Large Decrease in the Number of Properties for Sale Only Laval Had a Sales Increase North Shore and Vaudreuil-Soulanges: High-End Properties Provide Opportunities for Buyers South Shore: A Sellers, Especially in First Ring Suburbs

2 Analysis Sales Decrease After Two Hectic Quarters There were 13,238 residential MLS sales in the Montréal Census Metropolitan Area (CMA) in the second quarter of 2010, a 4 per cent decrease compared to the same period last year. This slowdown followed on the heels of strong increases in the fourth quarter of 2009 (+43 per cent) and the first quarter of 2010 (+45 per cent). Some consumers, who accurately predicted an increase in mortgage rates, bought their property earlier than originally planned. A similar trend was observed across the province. After a very active first quarter (38 per cent increase in sales province-wide), real estate activity in most urban centres across Québec slowed in the second quarter. This can be explained in part by an earlier than usual active real estate market, as some consumers, who accurately predicted an increase in mortgage rates1, bought their property earlier than originally planned. Another factor that, to a lesser extent, may have led consumers to buy a property earlier than usual was the April 19 start of new regulations governing eligibility for mortgage insurance. Borrowers must now meet the standards required to qualify for a five-year fixed rate mortgage, even if they choose a mortgage with a shorter term and a lower interest rate2. Island of Montréal: Large Decrease in the Number of Properties for Sale Sales on the Island of Montréal decreased by 2 per cent in the second quarter of 2010 compared to the same period last year. Statistics also showed a significant decrease in the number of active listings. In fact, listings fell by 26 per cent for plexes, 21 per cent for single-family homes and 10 per cent for condominiums. conditions, which had already given sellers the upper hand, continued to tighten. This resulted in a considerable decrease in average selling times (-31 days for plexes, -22 days for condominiums and -18 days for single-family homes) and some very pronounced price increases. For example, the median price of condominiums in the Centre and Ville-Marie areas increased by 25 and 21 per cent, respectively. As for single-family homes, the largest increases in median price were found in SaintLaurent/Ahuntsic (+20 per cent) and Côte-des-Neiges/Notre-Damede-Grâce/Côte-Saint-Luc (+19 per cent). Only Laval Had a Sales Increase Laval was the only area that registered an increase in sales in the second quarter of 2010, as sales grew by 5 per cent. Similar to the Island of Montréal, there was a large decrease in the number of properties for sale (-21 per cent) and a notable increase in median prices (+9 per cent for single-family homes and condominiums, and +11 per cent for plexes). Average selling times also decreased significantly (-32 days for plexes and -21 days for single-family homes). s were the exception to the rule, having registered an average selling time of 106 days, 14 days more than in the second quarter of North Shore and Vaudreuil-Soulanges: High-End Properties Provide Opportunities for Buyers Second quarter results for the North Shore and VaudreuilSoulanges areas mirrored those seen throughout the metropolitan area. Sales on the North Shore decreased by 3 per cent, the number of properties for sale decreased by 11 per cent, and average selling times fell sharply. In Vaudreuil-Soulanges, sales decreased by 1 per cent, active listings fell by 10 per cent and average selling times also fell sharply. Median prices in these areas were also on the rise. Median price increases were substantial in the Vaudreuil-Soulanges area (+11 per cent for single-family homes and +14 per cent for condominiums), but were more moderate on the North Shore (+6 per cent for single-family homes and +2 per cent for condominiums). Both the North Shore and Vaudreuil-Soulanges provided the most favourable conditions for buyers of high-end properties. In addition, both the North Shore and Vaudreuil-Soulanges provided the most favourable conditions for buyers of high-end properties. While the overall housing market gave sellers the upper hand, on the North Shore and in Vaudreuil-Soulanges, the absorption rate was greater than 20 months for single-family homes priced at $500,000 or more (compared to 17 months in Laval, 13 months on the South Shore and 11 months on the Island of Montréal). As a result, buyers of luxury homes in these two suburban areas had greater negotiating power. It is important to note that this was not the case for the area of Blainville, where market conditions for luxury homes were balanced. South Shore: A Sellers, Especially in First Ring Suburbs The largest decrease in sales in the second quarter of 2010 was on the South Shore (-12 per cent), as sales fell in certain first ring areas (Boucherville/Saint-Bruno, -22 per cent; centre of the South Shore, -20 per cent; South-West of the South Shore, -19 per cent). A similar trend continued in certain second ring areas such as Sainte-Julie/Varennes (-19 per cent) and Chambly (-15 per cent), while the Belœil/Mont-Saint-Hilaire area performed well in the second quarter, registering a 19 per cent increase in sales. There was a shortage of listings in certain first ring areas, particularly in Boucherville/Saint-Bruno, Longueuil and the centre of the South Shore (Brossard, La Prairie, Saint-Lambert and Candiac). It should be noted that there was a strong decrease in the number of properties for sale throughout the South Shore and market conditions clearly favoured sellers. There was a shortage of listings in certain first ring areas, particularly in Boucherville/Saint-Bruno, Longueuil and the centre of the South Shore (Brossard, La Prairie, Saint-Lambert and Candiac). 1 Mortgage rates administered by Canada s chartered banks for a five-year term increased from an average of 5.57% in the first quarter to an average of 6.04% in the second quarter. 2 For additional information, visit 1

3 Economic Indicators Mortgage rates (3) Level Variation (1) Annual change (2) 1-year term 3.70% year term 4.62% year term 6.04% Annual inflation rate (Canada) (1) Variation from previous quarter (2) Variation from the same quarter one year ago (3) Administrated rates of Canadian chartered banks (4) Measure used by the Bank of Canada to guide its decisions (5) Proportion of people who responded yes to this question (6) Seasonally adjusted (7) The total also includes co-operative housing Sources: Statistics Canada, Conference Board of Canada and CMHC Level Overall 1.4% -0.2 Reference (4) 1.8% -0.2 Consumer confidence level (Québec province) Overall Good time to make a major purchase (5) 50% 1 4 Labour market (Montréal census metropolitan area) Level Niveau Employment (in thousands) (6) 1, Unemployment rate (6) 8.5% Housing starts (Montréal census metropolitan area) Total (7) 6,285 N/A 29% Single-Family 2,832 N/A 28% 2,533 N/A 52% Rental 824 N/A -8% Level Variation (1) Annual change (2) N/A N/A Variation (1) Annual change (2) Variation (1) Annual change (2) Variation (1) Annual change (2) Note : Green arrows indicate good news and red arrows indicate bad news. The arrows indicate stability. % Monthly Evolution of Mortgage s Five-Year Term Source: Statistics Canada 2

4 Map Boundary of the Montréal Census Metropolitan Area*(CMA) Click on the name of the desired large area in order to access the map and related data *Statistics Canada definition, 2006 census (1) - No MLS data available for Kanesatake and Kahnawake 2009 Québec Federation of Real Estate Boards. All rights reserved. This map is protected by copyright and is the property of the Québec Federation of Real Estate Boards. Any use of this map, in whole or in part, directly or indirectly, is expressly prohibited, unless prior written authorization is obtained from the copyright owner. 3

5 List of Areas Montréal Metropolitan Area Click on the desired area in order to access the map and related data Island of Montréal Area 1 : West Island Baie-d'Urfé, Beaconsfield, Dollard-des-Ormeaux, Dorval, Kirkland, L'Île-Bizard/Sainte-Geneviève, L'Île-Dorval, Pierrefonds-Roxboro, Pointe-Claire, Sainte-Anne-de-Bellevue, Senneville Area 2 : Saint-Laurent/Ahuntsic Ahuntsic-Cartierville (Montréal), Saint-Laurent (Montréal) Area 3 : South-West of the Island Lachine (Montréal), LaSalle (Montréal), Le Sud-Ouest (Montréal), Verdun (Montréal) Area 4 : CDN/NDG/CSL Côte-des-Neiges/Notre-Dame-de-Grâce (Montréal), Côte-Saint-Luc Area 5 : Centre Hampstead, Île-des-Sœurs (Montréal), Montréal-Ouest, Mont-Royal, Outremont (Montréal), Westmount Area 6 : Ville-Marie Ville-Marie (Montréal) Area 7 : Le Plateau Le Plateau-Mont-Royal (Montréal) Area 8 : Rosemont/Villeray Rosemont/La Petite-Patrie (Montréal), Villeray/Saint-Michel/Parc-Extension (Montréal) Area 9 : Mercier/Hochelaga-Maisonneuve Mercier/Hochelaga-Maisonneuve (Montréal) Area 10 : Anjou/Saint-Léonard Anjou (Montréal), Saint-Léonard (Montréal) Area 11 : Eastern Tip of the Island Montréal-Est, Montréal-Nord (Montréal), Rivière-des-Prairies/Pointe-aux-Trembles (Montréal) Laval Area 12 : West of Laval Chomedey, Fabreville, Laval-Ouest, Laval-sur-le-Lac, Sainte-Dorothée, Sainte-Rose Area 13 : East of Laval Auteuil, Duvernay, Laval-des-Rapides, Pont-Viau, Saint-François, Saint-Vincent-de-Paul, Vimont North Shore Area 14 : West of the North Shore Deux-Montagnes, Mirabel, Oka, Pointe-Calumet, Sainte-Marthe-sur-le-Lac, Saint-Eustache, Saint-Joseph-du-Lac, Saint-Placide Area 15 : Centre of the North Shore Blainville, Boisbriand, Lorraine, Rosemère, Sainte-Thérèse Area 16 : Terrebonne/Mascouche Bois-des-Filion, Mascouche, Terrebonne, Sainte-Anne-des-Plaines Area 17 : East of the North Shore Charlemagne, L'Assomption, Lavaltrie, L'Épiphanie, Repentigny, Saint-Sulpice Area 18 : Saint-Jérôme Gore, Saint-Colomban, Saint-Jérôme Vaudreuil-Soulanges Area 19 : Vaudreuil-Soulanges Côteau-du-Lac, Hudson, Les Cèdres, Les Coteaux, L'Île-Cadieux, L'Île-Perrot, Notre-Dame-de-l'Île-Perrot, Pincourt, Pointe-des-Cascades, Saint-Lazare, Saint-Zotique, Terrasse-Vaudreuil, Vaudreuil-Dorion, Vaudreuil-sur-le-Lac South Shore Area 20 : Châteauguay Beauharnois, Châteauguay, Léry, Mercier, Saint-Isidore Area 21 : South-West of the South Shore Delson, Saint-Constant, Sainte-Catherine, Saint-Mathieu, Saint-Philippe Area 22 : Centre of the South Shore Brossard, Saint-Lambert, Candiac, La Prairie Area 23 : Longueuil Longueuil Area 24 : Boucherville/Saint-Bruno Boucherville, Saint-Bruno-de-Montarville Area 25 : Sainte-Julie/Varennes Varennes, Verchères, Saint-Amable, Sainte-Julie Area 26 : Beloeil/Mont-Saint-Hilaire Beloeil, McMasterville, Mont-Saint-Hilaire, Otterburn Park, Saint-Basile-le-Grand, Saint-Mathieu-de-Beloeil Area 27 : Chambly Carignan, Chambly, Richelieu, Saint-Mathias-sur-Richelieu 4

6 Evolution 45,000 Evolution of MLS Sales Montréal Metropolitan Area 40,000 35,000 30,000 25, Single-Family Montréal Metropolitan Area 6 rate Lower than 8: seller s market Between 8-10: balanced market Higher than 10: buyer s market Evolution of the Median Price - Single-Family Montréal Metropolitan Area $ 260, , , , , , , , , % 16% 14% 12% of Change in the Median Price - Single-Family Montréal Metropolitan Area 13% 17% 14% 10% 9% 10% 8% 7% 6% 4% 4% 5% 4% 2% 0%

7 Montréal Metropolitan Area Sales 13,238-4% New Listings 17,509 3% Active Listings 21,270-16% Volume (in thousand $) 3,912,521 6% Sales 45,375 19% New Listings 70,872-1% Active Listings 21,113-14% Volume (in thousand $) 12,941,020 29% Sociodemographic Profile of the Montréal CMA Population in ,635,571 Population change between 2001 and % Number of households in ,525,629 Population density per square kilometre 854 Proportion of owners 53% Proportion of renters 47% Source : Statistics Canada, 2006 Census Sales 7,827-6% 27,037 17% Active Listings 12,212-17% 12,205-13% Median Price $255,000 9% $245,000 7% 38% Average Price $299,622 9% $290,923 8% 36% Average Days (days) Sales 3,932 1% 13,220 24% Active Listings 6,811-11% 6,693-9% Median Price $210,000 8% $204,000 7% 28% Average Price $250,476 13% $238,875 9% 27% Average Days (days) Sales 1,471-2% 5,079 18% Active Listings 2,184-24% 2,161-29% Median Price $384,250 10% $365,000 7% 35% Average Price $398,798 11% $380,683 9% 37% Average Days (days) Past 5 years Past 5 years Past 5 years Table 3 - by Less than 200 2, S 200 to 299 4,827 1, S 300 to 399 2, S 400 to S 500 and more 1, B 6

8 Island of Montréal Click on the sector number in order to access the associated page. Sales 5,249-2% New Listings 7,203 10% Active Listings 7,842-17% Volume (in thousand $) 1,888,413 8% Sales 17,571 20% New Listings 26,890-2% Active Listings 7,587-18% Volume (in thousand $) 6,090,513 31% Sales 1,699-7% 5,736 18% Active Listings 2,287-21% 2,223-20% Median Price $337,000 9% $325,000 9% 34% Average Price $421,220 8% $412,825 9% 32% Average Days (days) Sales 2,421 2% 8,107 24% Active Listings 4,053-10% 3,873-11% Median Price $242,000 7% $235,000 6% 25% Average Price $289,009 15% $274,758 10% 28% Average Days (days) Sales 1,129-1% 3,728 15% Active Listings 1,502-26% 1,491-30% Median Price $401,000 10% $385,000 8% 38% Average Price $420,609 12% $403,336 10% 38% Average Days (days) Past 5 years Past 5 years Past 5 years Table 3 - by Less than 200 1, S 200 to 299 1, S 300 to S 400 to S 500 and more B 7

9 Area 1 : West Island Sales 830-7% New Listings 1,181 9% Active Listings 1,214-7% Volume (in thousand $) 285,477 D 0% Sales 2,642 9% New Listings 4,290-1% Active Listings 1,076-16% Volume (in thousand $) 878,719 15% Past 5 years Sales 661-9% 2,103 9% Active Listings % % Median Price $325,000 12% $315,000 10% 29% Average Price $367,672 7% $357,792 4% 24% Average Days (days) Past 5 years Sales 155 1% 487 8% Active Listings % % Median Price $206,000 9% $196,600 7% 27% Average Price $242,188 15% $223,828 11% 35% Average Days (days) Past 5 years Sales % Active Listings 35 20% 27 Median Price ** $369,250 14% 19% Average Price ** $374,749 8% 18% Average Days (days) Buyer s market Table 3 - by Less than S 200 to S 300 to S 400 to S 500 and more B 8

10 Area 2 : Saint-Laurent/Ahuntsic Sales 555-1% New Listings 664 8% Active Listings % Volume (in thousand $) 188,955 5% Sales 1,884 25% New Listings 2,613-2% Active Listings % Volume (in thousand $) 625,447 31% Sales 168-5% % Active Listings % % Median Price $401,500 20% $370,000 6% 40% Average Price $431,197 13% $419,384 9% 43% Average Days (days) Sales % % Active Listings % % Median Price $225,000 7% $216,142 1% 16% Average Price $242,963 9% $231,513 3% 16% Average Days (days) Sales % 389 3% Active Listings % % Median Price $435,000 12% $415,000 6% 30% Average Price $438,502 6% $424,928 5% 30% Average Days (days) Past 5 years Past 5 years Past 5 years Table 3 - by Less than S 200 to S 250 to S 300 and more S 9

11 Area 3 : South-West of Island Sales 741 3% New Listings 876 2% Active Listings % Volume (in thousand $) 219,498 12% Sales 2,476 30% New Listings 3,514 1% Active Listings % Volume (in thousand $) 713,418 41% Sales % % Active Listings % % Median Price $327,750 8% $307,750 8% 37% Average Price $336,100 10% $312,254 6% 37% Average Days (days) Sales 376 6% 1,233 37% Active Listings 491-9% 486-7% Median Price $222,500 1% $220,000 2% 29% Average Price $244,225 6% $239,887 6% 31% Average Days (days) Sales 239 6% % Active Listings % % Median Price $357,000 8% $353,000 12% 40% Average Price $358,010 11% $352,083 13% 37% Average Days (days) Past 5 years Past 5 years Past 5 years Table 3 - by Less than S 200 to S 250 to S 300 and more S 10

12 Area 4 : CDN/NDG/CSL Sales % New Listings % Active Listings % Volume (in thousand $) 161,493-4% Sales 1,304 21% New Listings 1,917-6% Active Listings % Volume (in thousand $) 518,359 32% Sales % % Active Listings % % Median Price $495,000 19% $450,000 10% 18% Average Price $555,943 17% $514,931 12% 28% Average Days (days) Sales % % Active Listings % % Median Price $285,000 12% $270,000 8% 8% Average Price $308,004 4% $304,073 7% 18% Average Days (days) Sales 80-8% % Active Listings 93-26% 91-25% Median Price $480,000 13% $457,500 6% 31% Average Price $503,379 16% $473,905 8% 27% Average Days (days) Past 5 years Past 5 years Past 5 years Table 3 - by Less than S 200 to S 300 to S 400 and more S 11

13 Area 5 : Centre Sales 379-1% New Listings % Active Listings % Volume (in thousand $) 252,522 7% Sales 1,301 32% New Listings 2,004-4% Active Listings % Volume (in thousand $) 845,845 44% Sales % % Active Listings % % Median Price $820,000 11% $785,000 6% 22% Average Price $949,544 14% $927,483 10% 20% Average Days (days) Sales % % Active Listings % % Median Price $393,000 25% $353,530 6% 22% Average Price $447,412 24% $413,730 11% 28% Average Days (days) Sales % Active Listings Median Price ** $740,000 17% 48% Average Price ** $754,520 14% 49% Average Days (days) Past 5 years Past 5 years Past 5 years Table 3 - by Buyer s market Less than S 200 to S 300 to S 400 to S 500 and more B 12

14 Area 6 : Ville-Marie Sales % New Listings % Active Listings % Volume (in thousand $) 165,061 39% Sales 1,431 31% New Listings 2,569 D 0% Active Listings 847-8% Volume (in thousand $) 536,566 53% Past 5 years Sales % Active Listings 50-17% 47-10% Median Price ** $646,000 8% 26% Average Price ** $755,718 17% 28% Average Days (days) 91-2 Past 5 years Sales % 1,234 33% Active Listings 799-9% 743-5% Median Price $305,500 21% $285,000 11% 30% Average Price $383,832 27% $352,851 15% 31% Average Days (days) Past 5 years Sales 34-8% 126 7% Active Listings 58-27% 58-32% Median Price $327,500 9% $347,000 25% 37% Average Price $400,090 25% $391,224 22% 44% Average Days (days) Buyer s market Table 3 - by Less than S 200 to S 300 to S 400 to S 500 and more B 13

15 Area 7 : Le Plateau Sales % New Listings % Active Listings % Volume (in thousand $) 129,215 3% Sales 1,028 3% New Listings 1,547-12% Active Listings % Volume (in thousand $) 372,554 17% Past 5 years Sales D 0% Active Listings Median Price ** $538,500 13% 44% Average Price ** $564,357 11% 47% Average Days (days) Sales % 796 4% Active Listings % % Median Price $295,000 11% $280,000 8% 29% Average Price $317,831 16% $300,953 12% 34% Average Days (days) Sales 59-18% 178 D 0% Active Listings 68-9% 59-40% Median Price $543,000 14% $535,000 16% 60% Average Price $592,849 20% $578,258 19% 61% Average Days (days) Past 5 years Past 5 years Table 3 - by Less than S 200 to S 300 to S 400 and more BA 14

16 Area 8 : Rosemont/Villeray Sales 535-1% New Listings 708 6% Active Listings % Volume (in thousand $) 185,614 12% Sales 1,802 11% New Listings 2,527-8% Active Listings % Volume (in thousand $) 593,016 22% Sales 74 19% % Active Listings 66 8% 59-19% Median Price $285,000 7% $280,000 14% 50% Average Price $326,953 21% $316,140 23% 50% Average Days (days) Sales 213 3% % Active Listings 292-3% 266-6% Median Price $242,000 8% $235,000 7% 26% Average Price $261,431 10% $252,610 8% 29% Average Days (days) Sales 248-9% 835 4% Active Listings % % Median Price $425,000 18% $387,500 9% 41% Average Price $426,351 16% $401,473 11% 43% Average Days (days) Past 5 years Past 5 years Past 5 years Table 3 - by Less than S 200 to S 250 to S 300 and more S 15

17 Area 9 : Mercier/Hochelaga-Maisonneuve Sales 387 1% New Listings % Active Listings % Volume (in thousand $) 108,462 14% Sales 1,341 20% New Listings 2,063 5% Active Listings % Volume (in thousand $) 365,429 31% Sales 59-14% 206 2% Active Listings 59-13% 55-25% Median Price $247,000-5% $260,000 3% 44% Average Price $262,508-1% $272,965 6% 41% Average Days (days) Sales 179-4% % Active Listings 339-7% 350-4% Median Price $196,849 7% $195,000 7% 24% Average Price $202,497 6% $202,473 9% 23% Average Days (days) Sales % % Active Listings % % Median Price $368,000 12% $345,000 6% 35% Average Price $380,722 17% $359,374 11% 40% Average Days (days) Past 5 years Past 5 years Past 5 years Table 3 - by Less than S 150 to S 200 to S 250 and more S 16

18 Area 10 : Anjou/Saint-Léonard Sales % New Listings 229 7% Active Listings % Volume (in thousand $) 63,268-8% Sales % New Listings 946-7% Active Listings % Volume (in thousand $) 221,454 27% Sales 42-21% 166 9% Active Listings 63-11% 68-16% Median Price $337,590 14% $335,000 10% 38% Average Price $344,433 9% $359,885 13% 38% Average Days (days) Sales 84-1% % Active Listings % % Median Price $207,500 5% $208,000 6% 28% Average Price $219,899 8% $219,266 7% 28% Average Days (days) Sales 62-21% % Active Listings 78-39% 77-39% Median Price $480,000 11% $463,000 8% 32% Average Price $489,202 11% $469,356 6% 28% Average Days (days) Past 5 years Past 5 years Past 5 years Table 3 - by Less than S 200 to S 250 to S 300 and more B 17

19 Area 11 : Eastern Tip of the Island Sales % New Listings 645 5% Active Listings % Volume (in thousand $) 128,849 24% Sales 1,697 22% New Listings 2,900 1% Active Listings 1,004-10% Volume (in thousand $) 419,705 32% Sales 258 3% % Active Listings % 504-5% Median Price $250,000 9% $243,000 6% 35% Average Price $257,808 7% $252,289 5% 31% Average Days (days) Sales 126-2% 446 8% Active Listings % % Median Price $165,500 3% $160,000 1% 23% Average Price $173,626 7% $167,931 5% 23% Average Days (days) Sales % % Active Listings % % Median Price $349,000 12% $340,000 11% 32% Average Price $351,810 15% $340,223 11% 29% Average Days (days) Past 5 years Past 5 years Past 5 years Table 3 - by Buyer s market Less than S 200 to S 250 to S 300 and more B 18

20 Laval Click on the sector number in order to access the associated page. Sales 1,618 5% New Listings 1,862-1% Active Listings 2,304-21% Volume (in thousand $) 437,949 15% Sales 5,315 24% New Listings 8,088-3% Active Listings 2,398-15% Volume (in thousand $) 1,409,259 35% Sales 1,174 2% 3,865 19% Active Listings 1,465-24% 1,540-19% Median Price $257,250 9% $253,250 9% 41% Average Price $282,122 10% $275,914 10% 41% Average Days (days) Sales % 1,098 35% Active Listings % 671-3% Median Price $185,000 9% $180,000 7% 30% Average Price $205,309 11% $197,932 9% 33% Average Days (days) Sales 93 2% % Active Listings % % Median Price $380,000 11% $362,000 8% 35% Average Price $370,214 7% $360,941 7% 36% Average Days (days) Past 5 years Past 5 years Past 5 years Table 3 - by Buyer s market Less than S 200 to S 300 to S 400 to S 500 and more B 19

21 Area 12 : West of Laval Sales 950 7% New Listings 1,152 6% Active Listings 1,379-19% Volume (in thousand $) 258,956 17% Sales 3,148 25% New Listings 4,828-1% Active Listings 1,428-14% Volume (in thousand $) 840,229 36% Sales 697 5% 2,301 21% Active Listings % % Median Price $260,000 8% $255,000 9% 43% Average Price $285,439 10% $279,375 10% 45% Average Days (days) Sales % % Active Listings % 450-3% Median Price $189,000 6% $184,900 6% 33% Average Price $211,614 10% $203,966 9% 35% Average Days (days) Sales 36-12% % Active Listings 83-16% 78-23% Median Price $391,250 11% $374,250 12% 36% Average Price $391,222 6% $382,642 9% 41% Average Days (days) Past 5 years Past 5 years Past 5 years Table 3 - by Buyer s market Less than S 200 to S 300 to S 400 and more B 20

22 Area 13 : East of Laval Sales 668 2% New Listings % Active Listings % Volume (in thousand $) 178,994 13% Sales 2,167 22% New Listings 3,260-5% Active Listings % Volume (in thousand $) 569,030 33% Sales 477-2% 1,564 17% Active Listings % % Median Price $253,000 9% $249,000 7% 38% Average Price $277,275 11% $270,836 9% 36% Average Days (days) Sales % % Active Listings % 221-5% Median Price $179,000 8% $175,000 7% 27% Average Price $195,020 13% $187,279 9% 30% Average Days (days) Sales 57 14% % Active Listings % % Median Price $369,000 12% $355,000 8% 34% Average Price $356,946 9% $345,485 6% 32% Average Days (days) Past 5 years Past 5 years Past 5 years Table 3 - by Buyer s market Less than S 200 to S 300 to S 400 and more B 21

23 North Shore Click on the sector number in order to access the associated page. Sales 2,826-3% New Listings 3,809 D 0% Active Listings 5,569-11% Volume (in thousand $) 663,878 5% Sales 9,806 17% New Listings 16,609 1% Active Listings 5,550-8% Volume (in thousand $) 2,226,162 25% Sales 2,338-3% 8,109 17% Active Listings 4,554-9% 4,516-6% Median Price $220,000 6% $215,000 8% 39% Average Price $245,185 9% $235,287 7% 38% Average Days (days) Sales 395 6% 1,274 18% Active Listings % % Median Price $155,000 2% $153,000 3% 25% Average Price $161,845 2% $159,097 3% 25% Average Days (days) Sales 88-28% % Active Listings % % Median Price $272,000-9% $285,000 2% 25% Average Price $293,147 1% $285,656 3% 29% Average Days (days) Past 5 years Past 5 years Past 5 years Table 3 - by Buyer s market Less than 200 1, S 200 to 299 1, S 300 to B 400 to B 500 and more B 22

24 Area 14 : West of the North Shore Sales 551-2% New Listings 738 3% Active Listings % Volume (in thousand $) 122,757 7% Sales 1,961 17% New Listings 3,169 2% Active Listings 977-7% Volume (in thousand $) 416,148 22% Sales 493 2% 1,723 21% Active Listings % 843-3% Median Price $218,000 11% $209,000 7% 38% Average Price $226,227 9% $216,646 6% 37% Average Days (days) Sales 47-16% 184 D 0% Active Listings 76-26% 85-17% Median Price $156,000 1% $154,000 1% 18% Average Price $164,926 1% $157,157-1% 20% Average Days (days) Sales % Active Listings 39-9% 35-37% Median Price ** $325,000 14% 36% Average Price ** $298,840 7% 30% Average Days (days) Past 5 years Past 5 years Past 5 years Table 3 - by Less than S 200 to S 250 to BA 300 and more B 23

25 Area 15 : Centre of the North Shore Sales 536 1% New Listings 689-5% Active Listings % Volume (in thousand $) 164,279 11% Sales 1,860 19% New Listings 2,866-6% Active Listings % Volume (in thousand $) 547,268 30% Sales 444 1% 1,534 21% Active Listings % % Median Price $270,000 5% $267,000 7% 38% Average Price $326,834 10% $311,302 9% 38% Average Days (days) Sales 74 10% % Active Listings % % Median Price $172,950 8% $176,700 8% 34% Average Price $182,408 7% $186,085 6% 34% Average Days (days) Sales % Active Listings 37-19% 37-28% Median Price ** $315,000 5% 29% Average Price ** $305,793 4% 30% Average Days (days) Past 5 years Past 5 years Past 5 years Table 3 - by Buyer s market Less than S 200 to S 300 to S 400 to BA 500 and more B 24

26 Area 16 : Terrebonne/Mascouche Sales 794-6% New Listings 979-1% Active Listings 1,370-18% Volume (in thousand $) 180,273 1% Sales 2,743 17% New Listings 4,363-1% Active Listings 1,420-12% Volume (in thousand $) 606,759 24% Sales 673-5% 2,333 17% Active Listings 1,143-18% 1,180-12% Median Price $220,000 8% $214,000 7% 43% Average Price $235,632 8% $226,871 7% 42% Average Days (days) Sales 101-4% % Active Listings % 194-4% Median Price $158,000 1% $158,000 5% 22% Average Price $159,590 1% $159,615 5% 20% Average Days (days) Sales % Active Listings 42-21% 40-28% Median Price ** $297,000 1% 26% Average Price ** $311,813 3% 35% Average Days (days) Past 5 years Past 5 years Past 5 years Table 3 - by Buyer s market Less than S 200 to S 250 to S 300 and more B 25

27 Area 17 : East of the North Shore Sales 569-3% New Listings 839-1% Active Listings 1,389-2% Volume (in thousand $) 120,429 1% Sales 2,037 19% New Listings 3,759 6% Active Listings 1,344 D 0% Volume (in thousand $) 420,129 24% Sales 433-6% 1,593 15% Active Listings 1,102 2% 1,064 2% Median Price $215,000 6% $205,000 5% 34% Average Price $223,591 7% $215,086 5% 36% Average Days (days) Sales % % Active Listings % 238-3% Median Price $152,468 6% $145,000 4% 26% Average Price $157,574-2% $151,678 1% 28% Average Days (days) Sales % Active Listings 34-23% 38-22% Median Price ** $325,450 2% 79% Average Price ** $312,231 5% 47% Average Days (days) 85-8 Past 5 years Past 5 years Past 5 years Table 3 - by Buyer s market Less than S 200 to S 250 to B 300 and more B 26

28 Area 18 : Saint-Jérôme Sales 376-1% New Listings 564 3% Active Listings 911-2% Volume (in thousand $) 76,140 7% Sales 1,205 11% New Listings 2,452 2% Active Listings 876-4% Volume (in thousand $) 235,857 18% Past 5 years Sales 295-5% % Active Listings 730 D 0% 690-2% Median Price $191,500 6% $185,250 5% 30% Average Price $207,618 11% $199,883 8% 34% Average Days (days) Past 5 years Sales 52 33% % Active Listings % % Median Price $139,950 8% $133,500 4% 23% Average Price $144,117 10% $135,812 4% 13% Average Days (days) Past 5 years Sales % Active Listings 63-6% 64-12% Median Price ** $225,000-3% 30% Average Price ** $239,498 D 0% 24% Average Days (days) Buyer s market Table 3 - by Less than S 200 to BA 250 to B 300 and more B 27

29 Area 19 : Vaudreuil-Soulanges Sales 658-1% New Listings 976 8% Active Listings 1,256-10% Volume (in thousand $) 167,285 8% Sales 2,230 28% New Listings 3,793 5% Active Listings 1,200-9% Volume (in thousand $) 569,643 40% Past 5 years Sales 546-5% 1,899 24% Active Listings 1,073-13% 1,023-13% Median Price $248,000 11% $238,940 9% 34% Average Price $268,278 11% $267,167 10% 30% Average Days (days) Past 5 years Sales % % Active Listings % % Median Price $172,000 14% $168,187 9% 33% Average Price $183,018 16% $173,729 10% 31% Average Days (days) Past 5 years Sales % Active Listings Median Price ** $258,000 14% 50% Average Price ** $271,184 19% 49% Average Days (days) Table 3 - by Less than S 200 to S 300 to BA 400 to B 500 and more B 28

30 South Shore Click on the sector number in order to access the associated page. Sales 2,887-12% New Listings 3,659-4% Active Listings 4,298-19% Volume (in thousand $) 754,995-4% Sales 10,453 17% New Listings 15,492-3% Active Listings 4,379-13% Volume (in thousand $) 2,645,443 25% Past 5 years Sales 2,070-12% 7,428 15% Active Listings 2,832-21% 2,903-15% Median Price $248,500 8% $240,000 6% 40% Average Price $279,305 8% $271,071 7% 40% Average Days (days) Past 5 years Sales % 2,462 21% Active Listings 1,205-12% 1,216-4% Median Price $185,000 11% $175,000 6% 26% Average Price $197,088 12% $187,884 6% 28% Average Days (days) Past 5 years Sales 151 9% % Active Listings % % Median Price $321,000 8% $320,000 11% 41% Average Price $324,888 8% $318,013 10% 41% Average Days (days) Table 3 - by Less than S 200 to 299 1, S 300 to S 400 to BA 500 and more B 29

31 Area 20 : Châteauguay Sales 329 D 0% New Listings 399-6% Active Listings % Volume (in thousand $) 68,724 5% Sales 1,108 24% New Listings 1,666-1% Active Listings 547-8% Volume (in thousand $) 224,807 31% Sales 286 2% % Active Listings % 448-8% Median Price $202,000 9% $194,000 5% 35% Average Price $216,493 7% $209,432 6% 41% Average Days (days) D 0 Sales 31-9% % Active Listings 57-31% 69-11% Median Price $133,977-13% $148,000-1% 31% Average Price $144,472-6% $148,406-1% 24% Average Days (days) Sales % Active Listings 34 45% 29 Median Price ** $200,000 D 0% 48% Average Price ** $224,603 8% 47% Average Days (days) Past 5 years Past 5 years Past 5 years Table 3 - by Buyer s market Less than S 200 to S 250 to BA 300 and more B 30

32 Area 21 : South West of the South Shore Sales % New Listings % Active Listings % Volume (in thousand $) 51,791-12% Sales % New Listings 1,193-7% Active Listings % Volume (in thousand $) 197,115 24% Past 5 years Sales % % Active Listings % % Median Price $233,000 8% $225,000 7% 41% Average Price $242,870 9% $233,107 8% 42% Average Days (days) Past 5 years Sales % Active Listings % Median Price ** $150,000 7% 23% Average Price ** $149,780 6% 26% Average Days (days) 61-5 Sales 4 22 Active Listings Median Price ** ** Average Price ** ** Average Days (days) Past 5 years Table 3 - by Less than S 200 to S 250 to S 300 and more BA 31

33 Area 22 : Centre of the South Shore Sales % New Listings 847-8% Active Listings % Volume (in thousand $) 194,822-11% Sales 2,325 16% New Listings 3,501-3% Active Listings 1,004-14% Volume (in thousand $) 669,191 25% Sales % 1,371 15% Active Listings % % Median Price $299,900 6% $292,000 6% 44% Average Price $351,661 10% $338,407 8% 44% Average Days (days) Sales % % Active Listings % 473-6% Median Price $195,000 9% $192,000 8% 26% Average Price $208,850 12% $202,220 8% 25% Average Days (days) Sales % Active Listings Median Price ** $374,000 13% 31% Average Price ** $379,477 10% 37% Average Days (days) 86-7 Past 5 years Past 5 years Past 5 years Table 3 - by Less than S 200 to S 300 to S 400 to S 500 and more BA 32

34 Area 23 : Longueuil Sales 727-9% New Listings 903-7% Active Listings % Volume (in thousand $) 177,730 2% Sales 2,647 20% New Listings 3,823-5% Active Listings % Volume (in thousand $) 631,335 31% Past 5 years Sales % 1,577 17% Active Listings % % Median Price $238,000 10% $230,000 7% 39% Average Price $251,563 9% $248,405 9% 41% Average Days (days) Past 5 years Sales % % Active Listings 363-7% 368 D 0% Median Price $185,000 16% $171,000 6% 29% Average Price $192,773 17% $182,225 7% 35% Average Days (days) Past 5 years Sales 91 18% % Active Listings % % Median Price $320,000 7% $320,000 9% 39% Average Price $326,853 9% $321,470 10% 40% Average Days (days) Buyer s market Table 3 - by Less than S 200 to S 250 to S 300 and more S 33

35 Area 24 : Boucherville/Saint-Bruno Sales % New Listings % Active Listings % Volume (in thousand $) 72,839-14% Sales 843 6% New Listings 1,188-6% Active Listings % Volume (in thousand $) 267,540 15% Sales % 640 2% Active Listings % % Median Price $315,000 13% $308,000 12% 39% Average Price $354,387 13% $345,844 11% 38% Average Days (days) Sales 48-4% % Active Listings 94 1% 73-2% Median Price $234,250 9% $212,000 D 0% 25% Average Price $247,608 11% $222,613 4% 26% Average Days (days) Sales 1 10 Active Listings 6 3 Median Price ** ** Average Price ** ** Average Days (days) Past 5 years Past 5 years Past 5 years Table 3 - by Less than S 200 to S 300 to S 400 to S 500 and more B 34

36 Area 25 : Sainte-Julie/Varennes Sales % New Listings 294-6% Active Listings 347-9% Volume (in thousand $) 53,320-16% Sales 890 8% New Listings 1,316-2% Active Listings 344-7% Volume (in thousand $) 209,816 11% Sales % 731 6% Active Listings % % Median Price $243,000 6% $233,750 3% 34% Average Price $266,109 8% $249,286 3% 32% Average Days (days) Sales 40 5% % Active Listings 60 15% 59 17% Median Price $158,000-1% $160,000-1% 23% Average Price $163,103 1% $165,483 D 0% 21% Average Days (days) Sales 3 14 Active Listings 5 7 Median Price ** ** Average Price ** ** Average Days (days) Past 5 years Past 5 years Past 5 years Table 3 - by Less than S 200 to S 250 to S 300 and more BA 35

37 Area 26 : Beloeil/Mont-Saint-Hilaire Sales % New Listings % Active Listings % Volume (in thousand $) 91,058 33% Sales 1,136 28% New Listings 1,784 2% Active Listings 578-8% Volume (in thousand $) 285,347 35% Sales % % Active Listings % 459-8% Median Price $250,000 11% $240,500 6% 36% Average Price $278,164 12% $267,707 7% 36% Average Days (days) Sales 56 22% % Active Listings 109 4% 106-2% Median Price $176,450 7% $172,000 6% 22% Average Price $183,362 11% $177,168 5% 25% Average Days (days) Sales 9 27 Active Listings Median Price ** ** Average Price ** ** Average Days (days) Past 5 years Past 5 years Past 5 years Table 3 - by Buyer s market Less than S 200 to S 250 to S 300 and more B 36

38 Area 27 : Chambly Sales % New Listings 238 9% Active Listings % Volume (in thousand $) 44,711-9% Sales % New Listings 1,021-2% Active Listings % Volume (in thousand $) 160,292 23% Past 5 years Sales % % Active Listings % % Median Price $243,750 2% $236,000 5% 41% Average Price $273,429 6% $271,454 11% 47% Average Days (days) Past 5 years Sales % Active Listings 34-16% 32-24% Median Price ** $161,500 18% 37% Average Price ** $180,206 14% 53% Average Days (days) Sales 8 29 Active Listings Median Price ** ** Average Price ** ** Average Days (days) Past 5 years Table 3 - by Less than S 200 to S 250 to S 300 and more BA 37

39 MLS System The MLS system is the most extensive and current computerized database of real estate transactions. Only real estate brokers who are members of a real estate board have access to it. The MLS system is a collaboration system that follows very specific rules that all real estate brokers adhere to. Residential Includes the following property categories: single-family homes, condominiums, revenue properties with 2 to 5 dwellings, and hobby farms. New Listings The number of new brokerage contracts with a signature date that falls within the targeted period. Active Listings The total number of listings that have an "active" status on the last day of the month. Quarterly and annual data correspond to the average monthly data for the targeted period. Number of Sales Total number of sales during the targeted period. The sale date is the date on which the promise to purchase is accepted, which takes effect once all conditions are met. Volume of Sales Total value of sales, in dollars ($), with a date corresponding to the targeted period. Average Selling Time Average number of days between the sale date and the date the brokerage contract is signed, for a given listing. of Change Due to the seasonal nature of real estate indicators, quarterly rates of change are calculated in relation to the same quarter of the previous year. Average Sale Price Average value of sales, in dollars ($), for the targeted period. To obtain a more significant average sale price, some transactions may have been excluded from the calculation. Median Sale Price Median value of sales, in dollars ($), for the targeted period. The median price is that which divides all transactions into two equal parts: 50% of transactions were at a lower price than the median price and the other 50% were at a higher price. In order to obtain a more significant median price, some transactions may have been excluded from the calculation. Same as Active Listings. Same as Number of Sales. The number of months needed to sell the entire inventory of properties for sale. It is obtained by dividing the inventory by the absorption. The absorption rate is calculated over a 12-month period in order to eliminate fluctuations due to the seasonal nature of listings and sales. For example, if the absorption rate is six months, this means that it took six months to sell the entire inventory of properties for sale. We can also say that the inventory corresponded to six months of sales. This measure is different than the average selling time. Caution Previous View The average and median property prices indicated in this brochure are based on transactions concluded via the MLS system during the targeted period. They do not necessarily reflect the average or median value of all properties in a sector. Similarly, the evolution of average prices or median prices between two periods does not necessarily reflect the evolution of the value of all properties in a sector. As a result, caution is required when using these statistics, particularly when the number of transactions is low. conditions are based on the absorption rate. Due to the way the absorption rate is calculated (see above), market conditions reflect the situation over the past 12 months. If the absorption rate is between 8 and 10 months, the market is considered balanced, meaning that it does not favour the buyer or the seller. In such a context, the growth in prices should be similar to the level of inflation. If the absorption rate is less than 8 months, the market is considered a seller's market. In such a context, the growth in prices is normally greater than the level of inflation. If the absorption rate is greater than 10 months, the market is considered a buyer's market. In such a context, the growth in prices is normally lower than the level of inflation, and may even be negative. About the QFREB The Québec Federation of Real Estate Boards (QFREB) is a non-profit organization that oversees the twelve provincial real estate boards. Its mission is to promote and protect the interests of Québec s real estate industry so that the boards and their members can successfully meet their business objectives. Copyright, terms and conditions Copyright 2009 Québec Federation of Real Estate Boards. All rights reserved. The content of this publication is protected by copyright laws and is owned by the Québec Federation of Real Estate Boards. Any reproduction of the information contained in this publication, in whole or in part, directly or indirectly, is specifically forbidden except with the prior written permission of the owner of the copyright. For More Information This publication is produced by the Analysis Department of the QFREB. For more information about our products, please write to us at samarche@fciq.ca. To obtain more specific information about the dynamics of the real estate market in a given sector, or for an assessment of a property's market value, please contact a local real estate broker who is a member of a real estate board. 38