MLS Barometer - Residential Market. Highlights. Montréal Metropolitan Area. Fourth Quarter Second Best Year on Record. One Year, Two Phases

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1 Montréal Metropolitan Area MLS Barometer - Residential Highlights 2010 Second Best Year on Record One Year, Two Phases Montréal: Only Metropolitan Area With More Sales The Year of the Larger Price Increases Compared to 2009 Fourth Quarter: Increase in the Number of Active Listings

2 2010 Second Best Year on Record Analysis The 42,347 MLS sales transactions that took place in the Montréal Census Metropolitan Area (CMA) in 2010 represented a slight increase (1 per cent, or 593 transactions) compared to 2009, making 2010 the second best year on record in sales. Only 2007 was more active with 43,666 transactions. One Year, Two Phases There were two distinct phases in the Montréal area real estate market in 2010: strong sales increases from January to April, followed by moderate but continuous decreases from May to December. The evolution of MLS sales in the Montréal CMA in 2010 mirrored the city s economic climate, which slowed down in the spring, and the job market, which deteriorated progressively with each quarter 1. The gradual decrease in mortgage rates throughout the year 2 failed to stimulate enough demand for properties to offset the effects of the deteriorating economic situation. There were two distinct phases in the Montréal area real estate market in 2010: strong sales increases from January to April, followed by moderate but continuous decreases from May to December. As for the number of properties for sale, 2010 was again marked by two distinct phases. The number of active listings in the Montréal Metropolitan Area decreased for the first eight months of the year, but the trend reversed in September and the supply of properties increased in the last four months of the year. Montréal: Only Metropolitan Area With More Sales Montréal was the only metropolitan area in the province that registered more sales in 2010 than it did in Montréal was the only metropolitan area in the province that registered more sales in 2010 than it did in However, the decreases posted in the other CMAs were largely offset by solid results in many of the smaller urban centres 3 and, as a result, the province finished the year with a 1 per cent increase in sales. The Montréal area accounted for 53 per cent of the province s total sales in The Year of the The increase in residential sales in the Montréal CMA in 2010 was due solely to condominium sales. The 12,668 condominium transactions set a new record, and represented a 7 per cent increase compared to s have been a popular choice for many years now due to accessible pricing and favourable demographic trends 4. sales represented 30 per cent of all sales in the Montréal area last year, while this proportion was only 18 per cent in s have become increasingly popular in suburban areas and are no longer reserved for urban centres. In 2010, the largest increases in condominium sales were in the areas 5 of Saint-Jérôme 1 Statistics Canada estimates that 33,000 jobs were created in the first quarter and 28,000 were created in the second quarter in the Montréal area, but 15,000 and 26,000 jobs were lost in the third and fourth quarters, respectively. 2 The average five-year mortgage rate offered by Canada s five main chartered banks decreased from 6.25 per cent in April to 5.19 per cent in December. 3 See the provincial MLS Barometer for the fourth quarter of See Resale Housing and Population Trends in Québec, February 2010, QFREB. 5 See the complete definition of the areas on page 4. (+35 per cent), Belœil/Mont-Saint-Hilaire (+34 per cent), Vaudreuil- Soulanges (+28 per cent), the Eastern North Shore (+20 per cent) and Laval (+15 per cent). The only area on the Island of Montréal that joined this group was the South-West, an area in full revitalization, with a 19 per cent increase in condominium sales in As for the other property categories, sales were relatively stable for single-family homes and plexes in the Montréal CMA, as they both posted a slight decrease of 1 per cent compared to There were two areas that bucked this trend and posted solid sales results: Pointe est de l île (+15 per cent for single-family homes and +27 per cent for plexes) and Belœil/Mont-Saint-Hilaire (+10 per cent for single-family homes and +7 per cent for plexes). Larger Price Increases Compared to 2009 The increase in property prices in the Montréal CMA held steady, and even strengthened, in The 7 per cent increase in the median price of single-family homes was the largest increase since 2007 (10 per cent), the 8 per cent increase in the median price of plexes was the largest since 2004 (13 per cent), and the 9 per cent increase in the median price of plexes was the largest since 2005 (10 per cent). These price increases are the result of very tight market conditions despite the slowdown in sales and the increased number of active listings at year-end. In December, the absorption rate for single-family homes was 5.9 months, that of condominiums was 6.5 months and that of plexes was 5.5 months, indicating that the market in all property categories clearly favoured sellers. The 7 per cent increase in the median price of singlefamily homes was the largest increase since 2007 (10 per cent), the 8 per cent increase in the median price of plexes was the largest since 2004 (13 per cent), and the 9 per cent increase in the median price of plexes was the largest since 2005 (10 per cent). Another consequence of the scarce supply of properties relative to demand is that average selling times decreased compared to In 2010, it took an average of 68 days (-10 days) for a single-family home to sell through the MLS system, it took an average of 79 days (-11 days) for a condominium to sell and 59 days (-22 days) for a plex to sell. Fourth Quarter: Increase in the Number of Active Listings The fourth quarter of 2010 was mainly characterized by an increase in the supply of properties for sale in the Montréal area. Sales in the fourth quarter of 2010 decreased by 13 per cent in the Montréal CMA. In addition to this decrease in the number of transactions, the fourth quarter of 2010 was mainly characterized by an increase in the supply of properties for sale in the Montréal area. The number of active listings on the MLS system decreased in the first three quarters of the year but then changed direction in the fall and posted a 7 per cent increase in the months of October to December. This can be seen as a sign of increasingly relaxed market conditions in certain areas in the coming months. The areas of Boucherville/Saint-Bruno (+60 per cent), Plateau (+45 per cent), South West of the Island (+24 per cent), Côte-des- Neiges/Notre-Dame-de-Grâce/Côte-Saint-Luc (+16 per cent), Chambly (+16 per cent) and Vaudreuil-Soulanges (+15 per cent) registered the most notable increase in the inventory of properties for sale in the last quarter of

3 Economic Indicators Mortgage rates (3) Level Variation (1) Annual change (2) 1-year term 3.30 % year term 4.13 % year term 5.31 % 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 2.3 % 0.4 Reference (4) 1.6 % 0.0 Consumer confidence level (Québec province) Overall Good time to make a major purchase (5) 47 % -3-1 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) 5,630 S.O. -2 % Single-Family 2,044 S.O. -10 % 2,997 S.O. 11 % Rental 589 S.O. -13 % Level Variation (1) Annual change (2) S.O. S.O. 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 Evolution of MLS Sales Montréal Metropolitan Area 45,000 40,000 35,000 30,000 25, Single-Family Montréal Metropolitan Area 9 8 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% 6% 4% 4% 7% 5% 4% 7% 2% 0%

7 Montréal Metropolitan Area Sales 8,480-13% New Listings 15,362 6% Active Listings 21,719 7% Volume (in thousand $) 2,596,316-6% Sales 42,347 1% New Listings 72,167 4% Active Listings 21,324-9% Volume (in thousand $) 12,406,162 9% 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 4,780-15% 24,982-1% Active Listings 12,440 6% 12,316-9% Median Price $260,000 8% $252,000 7% 37% Average Price $313,980 8% $298,335 7% 36% Average Days (days) Sales 2,629-5% 12,668 7% Active Listings 7,067 10% 6,828-5% Median Price $218,000 9% $210,000 8% 27% Average Price $254,459 9% $246,405 9% 27% Average Days (days) Sales 1,057-16% 4,657-1% Active Listings 2,167 3% 2,127-19% Median Price $385,000 9% $380,000 9% 36% Average Price $401,622 8% $395,286 10% 36% Average Days (days) / Less than 200 1, S 200 to 299 4, S 300 to 399 2, S 400 to 499 1, BA 500 and more 1, B 6

8 Island of Montréal Click on the sector number in order to access the associated page. Sales 3,618-7% New Listings 5,862 12% Active Listings 7,737 8% Volume (in thousand $) 1,347,425 D 0% Sales 16,609 2% New Listings 27,850 7% Active Listings 7,677-11% Volume (in thousand $) 5,940,172 11% Sales 1,138-10% 5,360-2% Active Listings 2,117 2% 2,211-14% Median Price $340,000 6% $335,000 8% 35% Average Price $455,506 9% $426,173 9% 35% Average Days (days) Sales 1,684-1% 7,789 7% Active Listings 4,178 15% 4,020-4% Median Price $250,000 7% $242,000 7% 26% Average Price $291,554 8% $283,970 10% 28% Average Days (days) Sales % 3,460-1% Active Listings 1,443 1% 1,446-21% Median Price $405,000 8% $400,000 11% 38% Average Price $424,728 8% $419,334 11% 38% Average Days (days) / 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 509-2% New Listings 751 D 0% Active Listings 1,015 9% Volume (in thousand $) 171,010 2% Sales 2,575 1% New Listings 4,378 6% Active Listings 1,113-5% Volume (in thousand $) 867,094 6% Sales 391-5% 2,023-2% Active Listings 708 5% % Median Price $320,000 7% $322,500 9% 31% Average Price $362,681 3% $362,081 5% 26% Average Days (days) Sales % % Active Listings % % Median Price $215,000 13% $209,000 11% 34% Average Price $238,003 15% $232,297 12% 33% Average Days (days) Sales % Active Listings Median Price ** $383,000 3% 15% Average Price ** $391,502 10% 19% Average Days (days) / Less than S 200 to S 300 to S 400 to S 500 and more B 8

10 Area 2 : Saint-Laurent/Ahuntsic Sales % New Listings 545 2% Active Listings 761 9% Volume (in thousand $) 130,420-9% Sales 1,669-4% New Listings 2,707 6% Active Listings % Volume (in thousand $) 580,617 5% Sales % 527-7% Active Listings 219 1% % Median Price $395,000 14% $390,000 13% 43% Average Price $456,067 12% $435,547 11% 43% Average Days (days) Sales % 786 2% Active Listings % % Median Price $237,000 10% $228,500 9% 18% Average Price $251,894 12% $243,952 10% 17% Average Days (days) Sales 76-20% % Active Listings 141 2% % Median Price $456,500 16% $438,380 12% 31% Average Price $456,329 12% $448,264 11% 32% Average Days (days) / Less than S 200 to S 250 to S 300 and more S 9

11 Area 3 : South-West of Island Sales 507-5% New Listings % Active Listings 1,076 24% Volume (in thousand $) 154,213-1% Sales 2,377 9% New Listings 3,732 11% Active Listings 961-8% Volume (in thousand $) 700,148 16% Sales 72-27% 402-7% Active Listings % % Median Price $338,500 6% $317,950 10% 36% Average Price $340,861 10% $325,702 9% 31% Average Days (days) Sales 253 7% 1,226 19% Active Listings % 527 2% Median Price $231,000 3% $224,814 3% 26% Average Price $243,176 D 0% $241,947 4% 28% Average Days (days) 74 D Sales 182-8% 749 2% Active Listings 295 9% % Median Price $370,000 7% $370,000 13% 41% Average Price $374,436 9% $365,230 12% 37% Average Days (days) / Less than S 200 to S 250 to S 300 and more S 10

12 Area 4 : CDN/NDG/CSL Sales % New Listings 393 9% Active Listings % Volume (in thousand $) 98,526-12% Sales 1,135-11% New Listings 1,927 3% Active Listings % Volume (in thousand $) 480,777 1% Sales 71-17% 329-9% Active Listings % % Median Price $485,000 18% $494,000 20% 34% Average Price $536,278 16% $550,356 19% 40% Average Days (days) Sales % % Active Listings % % Median Price $309,500 19% $285,000 10% 13% Average Price $338,674 14% $318,632 7% 18% Average Days (days) Sales 49-6% 243 1% Active Listings 81-9% 83-25% Median Price $465,000-1% $470,000 10% 33% Average Price $528,673 8% $500,386 12% 31% Average Days (days) / Less than S 200 to S 300 to S 400 and more S 11

13 Area 5 : Centre Sales % New Listings 377 D 0% Active Listings 591-4% Volume (in thousand $) 207,223-3% Sales 1,234 4% New Listings 2,042 4% Active Listings % Volume (in thousand $) 831,094 14% Sales 136-6% 528-3% Active Listings 228-5% % Median Price $942,500 20% $859,000 13% 30% Average Price $1,039,634 9% $987,378 14% 33% Average Days (days) Sales 151-9% % Active Listings 345-4% % Median Price $355,000 1% $358,000 8% 21% Average Price $406,598 2% $421,290 11% 25% Average Days (days) Sales % Active Listings Median Price ** $742,500 11% 36% Average Price ** $756,789 6% 39% Average Days (days) Balanced market / Less than S 200 to S 300 to S 400 to S 500 and more B 12

14 Area 6 : Ville-Marie Sales 295-7% New Listings 531 9% Active Listings 845 8% Volume (in thousand $) 120,398 9% Sales 1,324 3% New Listings 2,645 7% Active Listings 862-6% Volume (in thousand $) 529,423 22% Sales % Active Listings 43-4% 45-13% Median Price ** $550,000-18% 3% Average Price ** $769,218 10% 18% Average Days (days) Sales 260-4% 1,162 5% Active Listings % 764-4% Median Price $301,750 15% $305,000 16% 35% Average Price $392,611 21% $377,412 19% 35% Average Days (days) Sales % Active Listings 48-12% 53-25% Median Price ** $377,000 18% 51% Average Price ** $432,187 31% 54% Average Days (days) Balanced market 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 $) 102,602 33% Sales 1,056 3% New Listings 1,903 25% Active Listings 403-3% Volume (in thousand $) 397,499 18% Sales % Active Listings Median Price ** $575,000 15% 51% Average Price ** $605,863 16% 52% Average Days (days) Sales % 816 3% Active Listings % 317-1% Median Price $310,500 16% $295,000 13% 33% Average Price $325,963 11% $314,325 15% 37% Average Days (days) Sales 36-14% 180 1% Active Listings 74 36% 65-11% Median Price $566,500 2% $539,000 7% 56% Average Price $614,958 9% $590,398 13% 59% Average Days (days) / Less than S 200 to S 300 to S 400 and more S 14

16 Area 8 : Rosemont/Villeray Sales 416 5% New Listings % Active Listings % Volume (in thousand $) 146,058 9% Sales 1,740 D 0% New Listings 2,700 9% Active Listings % Volume (in thousand $) 588,416 10% Sales 42-24% 201-9% Active Listings 53 10% 60-2% Median Price $296,500 6% $295,000 11% 48% Average Price $361,529 13% $331,714 19% 51% Average Days (days) Sales % % Active Listings % 280 2% Median Price $246,000 3% $239,107 6% 26% Average Price $261,665-1% $254,819 5% 28% Average Days (days) Sales 202-1% 785-6% Active Listings % % Median Price $419,000 11% $415,000 15% 46% Average Price $425,084 8% $419,883 13% 43% Average Days (days) / Less than S 200 to S 250 to S 300 and more S 15

17 Area 9 : Mercier/Hochelaga-Maisonneuve Sales % New Listings 443 4% Active Listings 610-1% Volume (in thousand $) 78,423-20% Sales 1,210-1% New Listings 2,045 7% Active Listings % Volume (in thousand $) 338,667 8% Sales 37-35% % Active Listings 58 9% 56-13% Median Price $304,000 22% $269,500 3% 40% Average Price $305,568 15% $277,767 3% 42% Average Days (days) Sales % 572 3% Active Listings 348-2% 343-9% Median Price $194,168 D 0% $201,500 10% 26% Average Price $203,074 D 0% $206,998 8% 24% Average Days (days) Sales % 459 1% Active Listings 204-2% % Median Price $385,000 17% $367,750 12% 39% Average Price $390,608 12% $372,365 12% 38% Average Days (days) Balanced market / Less than S 150 to S 200 to S 250 and more S 16

18 Area 10 : Anjou/Saint-Léonard Sales 141-3% New Listings 201-6% Active Listings 278-3% Volume (in thousand $) 47,197-2% Sales 617 D 0% New Listings 946-1% Active Listings % Volume (in thousand $) 206,279 4% Sales 34 3% 148-8% Active Listings 67 1% 67-10% Median Price $339,750 10% $345,000 12% 35% Average Price $377,071 7% $368,822 12% 36% Average Days (days) Sales 68 10% % Active Listings 141-3% % Median Price $209,500 2% $209,000 6% 27% Average Price $223,378 4% $220,846 6% 29% Average Days (days) Sales 39-22% % Active Listings 70-8% 73-34% Median Price $462,000 3% $475,000 9% 32% Average Price $491,982 6% $486,686 7% 31% Average Days (days) / Less than S 200 to S 250 to S 300 and more B 17

19 Area 11 : Eastern Tip of the Island Sales 352-2% New Listings 615-4% Active Listings 951-7% Volume (in thousand $) 91,357 2% Sales 1,672 17% New Listings 2,825 1% Active Listings % Volume (in thousand $) 420,158 25% Sales 197 1% % Active Listings % % Median Price $260,000 7% $250,000 7% 37% Average Price $271,675 7% $258,611 6% 33% Average Days (days) Sales 93 7% % Active Listings 312 9% 290-4% Median Price $170,000 9% $165,000 5% 23% Average Price $173,927 8% $170,739 6% 21% Average Days (days) Sales 62-17% % Active Listings % % Median Price $352,500 4% $345,000 6% 26% Average Price $349,379 1% $345,024 7% 23% Average Days (days) Buyer s market Balanced 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 % New Listings 1,711 3% Active Listings 2,411 3% Volume (in thousand $) 254,100-11% Sales 4,912 4% New Listings 8,043 2% Active Listings 2,361-13% Volume (in thousand $) 1,330,641 13% Sales % 3,544 1% Active Listings 1,537 3% 1,517-14% Median Price $266,000 7% $259,000 8% 40% Average Price $290,288 6% $282,519 9% 41% Average Days (days) Sales 213-7% 1,068 15% Active Listings 683 1% 657-9% Median Price $200,000 15% $189,452 11% 34% Average Price $205,338 6% $202,620 8% 33% Average Days (days) 90 D Sales 56-37% 299 2% Active Listings 188 8% % Median Price $386,400 12% $375,000 9% 32% Average Price $387,364 13% $380,820 10% 34% Average Days (days) Balanced market / Less than S 200 to S 300 to S 400 to BA 500 and more B 19

21 Area 12 : West of Laval Sales % New Listings 1,031 4% Active Listings 1,470 5% Volume (in thousand $) 145,786-14% Sales 2,938 7% New Listings 4,850 4% Active Listings 1,419-11% Volume (in thousand $) 792,658 14% Sales % 2,132 4% Active Listings 922 6% % Median Price $265,000 5% $258,750 7% 40% Average Price $281,557 D 0% $281,444 7% 41% Average Days (days) Sales % % Active Listings 468 3% 446-8% Median Price $205,000 15% $196,471 13% 38% Average Price $206,220 2% $209,602 9% 35% Average Days (days) Sales % Active Listings 79 6% 80-11% Median Price ** $385,500 7% 34% Average Price ** $397,471 9% 37% Average Days (days) Balanced market / Less than S 200 to S 300 to S 400 and more B 20

22 Area 13 : East of Laval Sales % New Listings 680 2% Active Listings 941 D 0% Volume (in thousand $) 108,314-7% Sales 1,974 D 0% New Listings 3,193-2% Active Listings % Volume (in thousand $) 537,984 10% Sales % 1,412-3% Active Listings 616 D 0% % Median Price $268,500 11% $259,999 10% 39% Average Price $302,859 14% $284,137 12% 40% Average Days (days) Sales 76-3% % Active Listings 215-3% % Median Price $189,452 17% $179,179 9% 28% Average Price $203,749 13% $190,675 7% 30% Average Days (days) Sales 31-43% 167-3% Active Listings 109 9% % Median Price $386,000 17% $373,300 10% 32% Average Price $392,817 19% $367,659 11% 32% Average Days (days) Balanced 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 1,699-16% New Listings 3,613 D 0% Active Listings 5,808 7% Volume (in thousand $) 394,878-13% Sales 9,167 2% New Listings 16,833 3% Active Listings 5,658-4% Volume (in thousand $) 2,110,077 8% Sales 1,368-18% 7,533 1% Active Listings 4,666 5% 4,593-4% Median Price $219,000 4% $218,000 6% 36% Average Price $237,159 2% $237,732 6% 34% Average Days (days) Sales 232-7% 1,237 10% Active Listings % 802-7% Median Price $159,450 5% $156,500 4% 24% Average Price $164,906 5% $163,371 4% 23% Average Days (days) Sales 89-16% 369-4% Active Listings % 230-6% Median Price $335,000 29% $306,000 7% 29% Average Price $320,695 19% $302,454 7% 31% Average Days (days) Balanced market / Less than 200 1, S 200 to 299 2, S 300 to B 400 to B 500 and more B 22

24 Area 14 : West of the North Shore Sales % New Listings 672-6% Active Listings 986 2% Volume (in thousand $) 78,020-5% Sales 1,852 3% New Listings 3,167 D 0% Active Listings 986-5% Volume (in thousand $) 403,254 10% Sales % 1,601 2% Active Listings 842 1% 848-4% Median Price $208,000 4% $212,000 7% 35% Average Price $217,519 4% $220,288 7% 34% Average Days (days) Sales 33 D 0% % Active Listings 81-13% 81-17% Median Price $165,000 8% $158,500 4% 17% Average Price $168,524 7% $165,058 5% 19% Average Days (days) Sales % Active Listings 48 40% 40-3% Median Price ** $338,000 12% 41% Average Price ** $308,149 5% 32% Average Days (days) / Less than S 200 to S 250 to BA 300 and more B 23

25 Area 15 : Centre of the North Shore Sales % New Listings 601-1% Active Listings 973 6% Volume (in thousand $) 86,918-23% Sales 1,691 1% New Listings 2,891 1% Active Listings % Volume (in thousand $) 498,519 6% Sales % 1,398 3% Active Listings 753 3% 744-9% Median Price $273,750-2% $268,250 4% 28% Average Price $305,293-4% $309,602 4% 30% Average Days (days) Sales 35-30% 215-3% Active Listings % % Median Price $182,000 D 0% $179,900 6% 26% Average Price $180,940 D 0% $189,144 6% 26% Average Days (days) Sales % Active Listings 53 39% 41-9% Median Price ** $345,000 15% 28% Average Price ** $333,836 15% 32% Average Days (days) Balanced market / Less than S 200 to S 300 to S 400 to BA 500 and more B 24

26 Area 16 : Terrebonne/Mascouche Sales % New Listings 993 4% Active Listings 1,520 8% Volume (in thousand $) 113,325-10% Sales 2,541 D 0% New Listings 4,459 2% Active Listings 1,434-10% Volume (in thousand $) 574,950 7% Sales % 2,170 D 0% Active Listings 1,233 5% 1,183-10% Median Price $222,000 8% $217,500 7% 40% Average Price $238,148 8% $232,030 7% 41% Average Days (days) Sales 60-13% 296-2% Active Listings % 201-4% Median Price $159,500 3% $160,000 4% 21% Average Price $164,680 4% $163,495 5% 21% Average Days (days) Sales % Active Listings 56 45% 46-3% Median Price ** $321,000-2% 33% Average Price ** $324,883 2% 32% Average Days (days) Balanced market / Less than S 200 to S 250 to S 300 and more B 25

27 Area 17 : East of the North Shore Sales % New Listings 805 4% Active Listings 1,416 8% Volume (in thousand $) 73,886-13% Sales 1,904 2% New Listings 3,829 8% Active Listings 1,387 2% Volume (in thousand $) 401,341 8% Sales % 1,462-1% Active Listings 1,113 6% 1,096 4% Median Price $210,000 8% $210,000 8% 35% Average Price $216,841 6% $219,667 6% 34% Average Days (days) Sales 67 D 0% % Active Listings % 247-3% Median Price $161,000 9% $151,041 6% 24% Average Price $167,455 10% $156,797 3% 27% Average Days (days) Sales % Active Listings 42 D 0% 38-13% Median Price ** $370,750 13% 69% Average Price ** $340,224 16% 49% Average Days (days) 86 2 Balanced market Less than S 200 to S 250 to B 300 and more B / 26

28 Area 18 : Saint-Jérôme Sales % New Listings 542 D 0% Active Listings % Volume (in thousand $) 42,729-10% Sales 1,179 6% New Listings 2,487 6% Active Listings 910 3% Volume (in thousand $) 232,014 10% Sales % 902 3% Active Listings % 724 5% Median Price $187,150-2% $189,000 5% 29% Average Price $198,729-1% $200,177 5% 28% Average Days (days) Sales 37 23% % Active Listings 116 5% 117-4% Median Price $140,000 12% $140,000 10% 18% Average Price $142,262 13% $142,018 9% 19% Average Days (days) Sales % Active Listings 68 2% 65-4% Median Price ** $242,500 6% 33% Average Price ** $248,041 3% 27% Average Days (days) Buyer s market Balanced market Less than S 200 to BA 250 to B 300 and more B / 27

29 Area 19 : Vaudreuil-Soulanges Sales % New Listings 771 7% Active Listings 1,292 15% Volume (in thousand $) 100,428-13% Sales 2,084 4% New Listings 3,927 8% Active Listings 1,273-1% Volume (in thousand $) 534,242 8% Sales % 1,758 2% Active Listings 1,102 16% 1,088-3% Median Price $259,000 11% $245,000 9% 35% Average Price $273,583 D 0% $268,242 5% 30% Average Days (days) Sales 49-16% % Active Listings 159 8% % Median Price $169,500 2% $170,036 5% 32% Average Price $177,352 7% $179,744 10% 27% Average Days (days) Sales % Active Listings Median Price ** $242,000-11% 18% Average Price ** $264,197-2% 30% Average Days (days) 77 6 / 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 1,859-17% New Listings 3,405 6% Active Listings 4,471 6% Volume (in thousand $) 499,484-9% Sales 9,575-2% New Listings 15,514 D 0% Active Listings 4,356-12% Volume (in thousand $) 2,491,029 5% Sales 1,302-17% 6,787-3% Active Listings 3,017 8% 2,907-12% Median Price $255,000 9% $246,000 7% 38% Average Price $292,156 11% $280,398 8% 40% Average Days (days) Sales % 2,289 1% Active Listings 1,202 2% 1,200-9% Median Price $180,000 6% $180,000 8% 27% Average Price $193,595 6% $192,390 8% 27% Average Days (days) Sales % 496 2% Active Listings 247 1% % Median Price $320,500 1% $317,000 3% 31% Average Price $312,890-1% $313,808 2% 31% Average Days (days) / Less than S 200 to 299 1, S 300 to S 400 to BA 500 and more B 29

31 Area 20 : Châteauguay Sales % New Listings 348 1% Active Listings 507-6% Volume (in thousand $) 40,727-14% Sales 1,036 6% New Listings 1,603-2% Active Listings % Volume (in thousand $) 213,585 11% Sales % 901 8% Active Listings 426-4% % Median Price $196,250 3% $196,250 6% 32% Average Price $213,408 2% $211,278 4% 38% Average Days (days) Sales % Active Listings 59-21% 59-27% Median Price ** $151,150 D 0% 13% Average Price ** $152,273 1% 13% Average Days (days) Sales % Active Listings Median Price ** $213,000 7% 52% Average Price ** $227,782 6% 41% Average Days (days) Balanced market / Less than S 200 to S 250 to S 300 and more B 30

32 Area 21 : South West of the South Shore Sales % New Listings 276 2% Active Listings 360 1% Volume (in thousand $) 26,515-40% Sales 770-9% New Listings 1,165-10% Active Listings % Volume (in thousand $) 173,899-4% Sales 94-39% 649-7% Active Listings 298-3% % Median Price $218,000-3% $229,500 7% 38% Average Price $242,102 4% $237,346 6% 37% Average Days (days) Sales % Active Listings 52 51% 37-23% Median Price ** $159,700 13% 30% Average Price ** $155,511 7% 26% Average Days (days) 60-6 Sales 3 18 Active Listings 8 9 Median Price ** ** Average Price ** ** Average Days (days) / Less than S 200 to S 250 to S 300 and more B 31

33 Area 22 : Centre of the South Shore Sales % New Listings 689-8% Active Listings 947-3% Volume (in thousand $) 118,819-6% Sales 2,139-3% New Listings 3,438-2% Active Listings % Volume (in thousand $) 634,439 6% Sales % 1,240-5% Active Listings 510 6% % Median Price $305,000 11% $302,500 8% 42% Average Price $364,775 15% $355,013 11% 46% Average Days (days) Sales % 839 1% Active Listings % % Median Price $189,000 2% $195,000 9% 27% Average Price $205,275 5% $205,002 7% 24% Average Days (days) Sales % Active Listings Median Price ** $376,500 2% 31% Average Price ** $387,822 1% 32% Average Days (days) 77-9 / Less than S 200 to S 300 to S 400 to S 500 and more BA 32

34 Area 23 : Longueuil Sales % New Listings % Active Listings 1,072 11% Volume (in thousand $) 116,235-18% Sales 2,398-2% New Listings 3,921 3% Active Listings % Volume (in thousand $) 578,902 5% Sales % 1,422-4% Active Listings % % Median Price $238,000 5% $236,000 8% 36% Average Price $263,065 6% $253,974 7% 38% Average Days (days) Sales 136-9% 684 2% Active Listings 386 8% 365-5% Median Price $173,450 2% $174,500 8% 28% Average Price $183,191 2% $185,125 8% 32% Average Days (days) Sales 56-32% 292 D 0% Active Listings 148 4% % Median Price $340,000 8% $325,000 5% 32% Average Price $329,143 6% $320,616 4% 31% Average Days (days) / Less than S 200 to S 250 to S 300 and more S 33

35 Area 24 : Boucherville/Saint-Bruno Sales 172-9% New Listings % Active Listings % Volume (in thousand $) 60,977 8% Sales % New Listings 1,283 7% Active Listings 332 2% Volume (in thousand $) 262,437 2% Sales 137 5% % Active Listings % 238-2% Median Price $315,000 2% $315,000 13% 37% Average Price $381,294 11% $364,218 14% 40% Average Days (days) Sales 32-42% % Active Listings % 89 14% Median Price $240,000 28% $234,500 18% 36% Average Price $238,797 22% $243,312 18% 36% Average Days (days) Sales 3 6 Active Listings 8 6 Median Price ** ** Average Price ** ** Average Days (days) / 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 264-7% Active Listings % Volume (in thousand $) 44,781-16% Sales % New Listings 1,284-3% Active Listings 354-5% Volume (in thousand $) 196,339-4% Sales % % Active Listings % 286-7% Median Price $250,000 9% $238,250 4% 33% Average Price $277,970 15% $259,741 7% 34% Average Days (days) D 0 Sales % Active Listings 50-9% 60 8% Median Price ** $164,750 2% 20% Average Price ** $171,969 5% 17% Average Days (days) 69-1 Sales 4 11 Active Listings 9 7 Median Price ** ** Average Price ** ** Average Days (days) / Less than S 200 to S 250 to S 300 and more BA 35

37 Area 26 : Beloeil/Mont-Saint-Hilaire Sales 236 8% New Listings 389 1% Active Listings 514-7% Volume (in thousand $) 63,195 18% Sales 1,101 14% New Listings 1,767 2% Active Listings % Volume (in thousand $) 283,883 22% Sales 177 5% % Active Listings 402-7% % Median Price $251,000 9% $250,000 9% 35% Average Price $289,346 10% $276,387 9% 34% Average Days (days) Sales 48 7% % Active Listings 99-4% 107-1% Median Price $182,627 10% $175,500 6% 21% Average Price $182,807 4% $178,779 5% 23% Average Days (days) Sales % Active Listings Median Price ** $283,500 11% 38% Average Price ** $289,837 15% 33% Average Days (days) Balanced market / Less than S 200 to S 250 to S 300 and more B 36

38 Area 27 : Chambly Sales 105-5% New Listings % Active Listings % Volume (in thousand $) 28,234 5% Sales % New Listings 1,053 5% Active Listings 318-5% Volume (in thousand $) 147,544-3% Sales 89-5% % Active Listings % 261-6% Median Price $261,905 20% $248,700 8% 46% Average Price $286,494 17% $280,205 9% 49% Average Days (days) Sales % Active Listings 39 27% 39 9% Median Price ** $162,000 18% 36% Average Price ** $177,702 12% 45% Average Days (days) 74-9 Sales 3 28 Active Listings Median Price ** ** Average Price ** ** Average Days (days) / Less than S 200 to S 250 to S 300 and more B 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. Information and Subscription This publication is produced by the Analysis Department of the QFREB. For more information or to subscribe to our products, please write to us at stats@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