MLS Barometer - Residential Market. Highlights. Montréal Metropolitan Area. Fourth Quarter 2009

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1 Montréal Metropolitan Area MLS Barometer - Residential Highlights The Year Ended With a Roar The Recession is Over Against All Expectations, 2009 Was More Active Than 2008 A New Sales Peak in the Fourth Quarter Median Prices Continued to Increase Tightening Favoured Sellers

2 Analysis The Year Ended With a Roar The real estate market in the Montréal Census Metropolitan Area (CMA) turned in a strong performance in 2009 despite a slow start to the year, as residential MLS sales surpassed 2008 levels by 3 per cent. This increase is mainly due to the strength of the market in the fourth quarter of 2009 when 9,731 transactions took place, setting a new fourth-quarter record. This represents a 43 per cent increase in sales compared to the last quarter of 2008, and a 7 per cent increase compared to the fourth quarter of 2007, which broke all records. There were 9,731 sales transactions registered in the fourth quarter, setting a new record. The Recession is Over The recession officially ended in Canada in the third quarter of 2009, after three quarters marked by a decrease in gross domestic product. Since then, consumer confidence increased 1 and mortgage rates have remained at historically low levels 2. The job market also improved at the end of the year, with the creation of 19,000 jobs in the Montréal CMA in the fourth quarter. It is much too early to declare victory, however, as the change in employment went up and down during the year and 2009 ended with a cumulative loss of some 11,600 jobs in the Montréal CMA. Despite this note of caution, the situation for the real estate industry remains very positive. Against All Expectations, 2009 Was More Active Than 2008 Thanks to strong sales in the second half of the year, 2009 exceeded all expectations and posted an increase in sales compared to Sales of single-family homes increased by 4 percent in 2009, while sales of condominiums and plexes grew by 3 per cent. Geographically, sales increased by 7 per cent in Vaudreuil- Soulanges, by 4 per cent on the Island of Montréal and the South Shore, and by 3 per cent in Laval, while sales on the North Shore remained stable. Median prices for all three property categories increased in each of the Montréal CMA s five main geographic areas in Median prices for all three property categories increased in each of the Montréal CMA s five main geographic areas in The median price of single-family homes increased by 7 per cent on the Island of Montréal; by 5 per cent on the North Shore, on the South Shore and in Vaudreuil-Soulanges; and by 4 per cent in Laval. Also in 2009, the median price of condominiums increased by 9 per cent in Vaudreuil-Soulanges, by 6 per cent on the Island of Montréal, by 5 per cent on the North Shore, by 2 per cent in Laval, and by 1 per cent on the South Shore. A New Sales Peak in the Fourth Quarter The strong increase in residential sales in the fourth quarter of 2009 in the Montréal CMA meant that certain areas registered sales increases of more than 65 per cent. This was particularly the case in the Centre area of the Island, where sales increased by 93 per cent (324 sales); in the South-West area of the South Shore, where the 198 transactions represented a 72 per cent increase in sales; and in the Vaudreuil-Soulanges area (+68 per cent). In terms of the types of properties sold, condominiums led the way in the Montréal CMA. There was a 52 per cent increase in condominium sales in the fourth quarter of 2009, with a total of 2,787 transactions. The two other property categories also registered significant increases in sales in the fourth quarter of 2009: single-family home sales increased by 41 percent and plex sales grew by 34 per cent compared to the fourth quarter of Median Prices Continued to Increase Median prices for all three property categories also continued to gain momentum in the fourth quarter of For single-family homes, the largest increases were on the Island of Montréal (+11 per cent), where half the homes sold for a price greater than $320,500; in Vaudreuil-Soulanges (+10 per cent), where the median price reached $232,750; and in Laval (+9 per cent), where the median price was $249,000. The median price of condominiums increased by 7 per cent on the Island of Montréal, by 4 per cent on the North Shore and by 2 per cent on the South Shore compared to the fourth quarter of In Laval the median price of condominiums remained stable at $173,500. Tightening Favoured Sellers Active listings decreased for a second consecutive quarter in the Montréal area between October and December, and there were 15 per cent fewer listings on the MLS system compared to the fourth quarter of The decrease in the number of properties for sale and the increase in the number of sales meant that the inventory was absorbed faster. While the condominium market was balanced in the first three quarters of 2009, it became a seller s market on the Island of Montréal and on the South Shore in the fourth quarter. For single-family homes in the fourth quarter of 2009, it was a seller s market in all five of the Montréal CMA s main geographic areas. The absorption rate accelerated the fastest on the South Shore and on the Island of Montréal, at 5.6 and 5.7 months, respectively. The absorption rate for condominiums also accelerated in the fourth quarter of While the condominium market was balanced in the first three quarters of 2009, it became a seller s market on the Island of Montréal and on the South Shore in the fourth quarter. 1 According to the Conference Board Index, between October and December 47 per cent of Quebecers felt that it was a good time to make a major purchase such as a home, compared to 26 per cent one year earlier. 2 In the fourth quarter, the five-year mortgage rate offered by Canadian chartered banks averaged 5.64 per cent, which is comparable to the rates offered in the early 1950s. 1

3 Economic Indicators Mortgage rates (3) Level Variation (1) Annual change (2) 1-year term 3.67% year term 4.32% year term 5.64% 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 and CMHC Level Overall 0.8% 1.6 Reference (4) 1.6% 0.0 Consumer confidence level (Québec province) Overall Good time to make a major purchase (5) 47% Labour market (Montréal census metropolitan area) Level Niveau Employment (in thousands) (6) 1, Unemployment rate (6) 9.0% Housing starts (Montréal census metropolitan area) Total (7) 5,763 N/A 8% Single-Family 2,271 N/A 13% 2,707 N/A 20% Rental 676 N/A -28% 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 rates 5-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 9,731 43% New Listings 14,428-8% Active Listings 20,249-15% Volume (in thousand $) 2,764,083 55% Sales 41,802 3% New Listings 69,382-7% Active Listings 23,431 1% Volume (in thousand $) 11,358,740 8% 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 Past 5 years Sales 5,660 41% 25,178 4% Active Listings 11,710-14% 13,520 3% Median Price $240,000 6% $235,000 4% 39% Average Price $290,461 10% $277,590 5% 35% Average Days (days) Past 5 years Sales 2,787 52% 11,864 3% Active Listings 6,387-8% 7,213 3% Median Price $200,000 8% $194,500 5% 25% Average Price $234,280 9% $226,227 5% 23% Average Days (days) Sales 1,273 34% 4,726 3% Active Listings 2,101-34% 2,633-13% Median Price $355,000 6% $349,000 4% 37% Average Price $370,646 9% $360,185 4% 37% Average Days (days) Past 5 years Table 3 - by Less than 200 2, S 200 to 299 5, S 300 to 399 2, BA 400 to 499 1, B 500 and more 1, B 6

8 Island of Montréal Click on the sector number in order to access the associated page. Sales 3,912 43% New Listings 5,237-13% Active Listings 7,142-22% Volume (in thousand $) 1,355,102 59% Sales 16,283 4% New Listings 26,020-10% Active Listings 8,602-5% Volume (in thousand $) 5,348,014 10% Past 5 years Sales 1,270 43% 5,454 8% Active Listings 2,067-24% 2,574-1% Median Price $320,500 11% $310,000 7% 32% Average Price $417,550 15% $391,619 5% 29% Average Days (days) Past 5 years Sales 1,715 50% 7,317 2% Active Listings 3,636-13% 4,186-3% Median Price $234,250 7% $227,000 6% 26% Average Price $269,618 11% $258,625 6% 22% Average Days (days) Sales % 3,512 4% Active Listings 1,439-36% 1,842-13% Median Price $375,000 7% $360,000 3% 35% Average Price $394,321 10% $378,490 3% 36% Average Days (days) Past 5 years Table 3 - by Less than 200 1, S 200 to 299 1, S 300 to S 400 to BA 500 and more B 7

9 Area 1 : West Island Sales % New Listings 750-8% Active Listings % Volume (in thousand $) 169,010 38% Sales 2,559-1% New Listings 4,113-12% Active Listings 1,167-9% Volume (in thousand $) 822,329 3% Past 5 years Sales % 2,067 2% Active Listings % 895-6% Median Price $302,000 4% $295,000 4% 26% Average Price $350,692 7% $345,617 2% 25% Average Days (days) Past 5 years Sales 90 10% % Active Listings 232 1% % Median Price $189,773 9% $188,250 6% 30% Average Price $207,286 7% $208,268 6% 32% Average Days (days) Sales % Active Listings Median Price ** $354,000 9% 34% Average Price ** $356,158 7% 32% Average Days (days) 82 D 0 Past 5 years 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 % New Listings % Active Listings % Volume (in thousand $) 144,484 56% Sales 1,735 7% New Listings 2,560-10% Active Listings 898-3% Volume (in thousand $) 554,173 11% Past 5 years Sales % % Active Listings % % Median Price $345,000 1% $345,000 3% 35% Average Price $409,172 3% $393,685 6% 39% Average Days (days) Past 5 years Sales % 773 1% Active Listings % 428-7% Median Price $214,978-2% $209,500 D 0% 16% Average Price $225,823-2% $221,563-2% 16% Average Days (days) Sales 96 26% 395 6% Active Listings % % Median Price $395,000 3% $390,000 D 0% 26% Average Price $405,542 3% $404,267 1% 28% Average Days (days) Past 5 years Table 3 - by Less than S 200 to S 250 to S 300 and more BA 9

11 Area 3 : South-West of Island Sales % New Listings 674-9% Active Listings % Volume (in thousand $) 157,244 73% Sales 2,196 11% New Listings 3,364-7% Active Listings 1,041-6% Volume (in thousand $) 605,385 17% Past 5 years Sales 99 57% % Active Listings % 155-9% Median Price $302,500 8% $288,000 5% 31% Average Price $310,069 5% $298,453 5% 36% Average Days (days) Past 5 years Sales % 1,033 6% Active Listings 478-8% 518 3% Median Price $224,000 5% $219,000 8% 30% Average Price $243,771 8% $232,863 6% 31% Average Days (days) Sales % % Active Listings % % Median Price $350,000 17% $328,000 3% 37% Average Price $346,303 16% $327,188 4% 35% Average Days (days) 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 $) 111,714 72% Sales 1,277 15% New Listings 1,873-14% Active Listings 604-6% Volume (in thousand $) 474,664 16% Past 5 years Sales 86 62% % Active Listings 82-45% 131-2% Median Price $416,000 16% $415,000 D 0% 16% Average Price $464,178 11% $463,094-3% 19% Average Days (days) Past 5 years Sales % % Active Listings % 363-5% Median Price $261,000 8% $259,350 4% 10% Average Price $298,263 9% $297,499 6% 14% Average Days (days) Sales 52 18% 240 7% Active Listings 89-28% % Median Price $481,500 17% $430,000 3% 25% Average Price $491,607 18% $445,723-1% 23% Average Days (days) Past 5 years Table 3 - by Less than S 200 to S 300 to S 400 and more BA 11

13 Area 5 : Centre Sales % New Listings 379-8% Active Listings % Volume (in thousand $) 214, % Sales 1,192 10% New Listings 1,963-9% Active Listings 753 1% Volume (in thousand $) 732,455 15% Past 5 years Sales % % Active Listings % 312 7% Median Price $785,000 19% $760,000 1% 19% Average Price $954,028 18% $865,032-1% 18% Average Days (days) Past 5 years Sales % 598 2% Active Listings % 415-3% Median Price $350,000 4% $330,000-1% 16% Average Price $397,406 7% $378,985 1% 22% Average Days (days) Sales % Active Listings Median Price ** $660,000 6% 29% Average Price ** $712,460 12% 42% Average Days (days) 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 12

14 Area 6 : Ville-Marie Sales % New Listings % Active Listings % Volume (in thousand $) 110,506 73% Sales 1,288 14% New Listings 2,463-3% Active Listings 916 7% Volume (in thousand $) 433,678 21% Past 5 years Sales % Active Listings 45-15% 52 17% Median Price ** $668,750 38% 34% Average Price ** $697,242 12% 18% Average Days (days) Past 5 years Sales % 1,103 14% Active Listings 682-5% 793 9% Median Price $262,000 3% $262,500 3% 14% Average Price $325,398 10% $318,789 3% 13% Average Days (days) Sales % Active Listings 55-43% 72-17% Median Price ** $319,500 10% 43% Average Price ** $328,687 1% 34% Average Days (days) 80 5 Past 5 years Table 3 - by Buyer s market Less than S 200 to S 300 to BA 400 to BA 500 and more B 13

15 Area 7 : Le Plateau Sales % New Listings % Active Listings % Volume (in thousand $) 77,127 39% Sales 1,025 6% New Listings 1,523-18% Active Listings % Volume (in thousand $) 338,085 14% Past 5 years Sales % Active Listings Median Price ** $500,000 5% 49% Average Price ** $523,731 5% 41% Average Days (days) Past 5 years Sales % 794 4% Active Listings % 321-9% Median Price $267,000 9% $260,000 2% 27% Average Price $293,614 16% $274,393 4% 30% Average Days (days) Sales 42 2% % Active Listings 54-53% 72-26% Median Price $557,500 33% $505,000 19% 58% Average Price $564,333 23% $524,058 15% 53% Average Days (days) 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 % New Listings % Active Listings % Volume (in thousand $) 134,104 28% Sales 1,739-1% New Listings 2,486-13% Active Listings % Volume (in thousand $) 536,970 6% Past 5 years Sales 55 53% % Active Listings 48-41% 61-20% Median Price $280,000 18% $265,000 13% 47% Average Price $319,335 19% $277,851 8% 35% Average Days (days) 66 D Past 5 years Sales % 683-5% Active Listings % 275-6% Median Price $240,000 8% $226,150 10% 29% Average Price $263,357 10% $242,551 11% 29% Average Days (days) Sales % 835-1% Active Listings % % Median Price $375,500 4% $360,000 4% 39% Average Price $391,864 8% $372,071 4% 38% Average Days (days) 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 % New Listings 429-3% Active Listings % Volume (in thousand $) 98,351 57% Sales 1,220 3% New Listings 1,911-10% Active Listings 678-3% Volume (in thousand $) 314,445 7% Past 5 years Sales 57 14% 208 5% Active Listings 53-28% 64-11% Median Price $249,000 9% $262,500 9% 46% Average Price $265,316 7% $269,103 8% 40% Average Days (days) Past 5 years Sales % 557 D 0% Active Listings 354 D 0% 376 3% Median Price $194,075 8% $184,015 2% 26% Average Price $202,655 11% $192,383 6% 28% Average Days (days) Sales % 455 4% Active Listings % % Median Price $330,750 2% $327,500 1% 39% Average Price $349,354 7% $332,982 1% 36% Average Days (days) Past 5 years Table 3 - by Less than S 150 to S 200 to BA 250 and more BA 16

18 Area 10 : Anjou/Saint-Léonard Sales % New Listings % Active Listings % Volume (in thousand $) 48,810 63% Sales 618 7% New Listings % Active Listings 336-9% Volume (in thousand $) 198,836 9% Past 5 years Sales 33 3% 160 2% Active Listings 67-20% 74-13% Median Price $310,000 8% $307,500 5% 34% Average Price $352,603 20% $330,442 6% 34% Average Days (days) Past 5 years Sales 62 63% % Active Listings % 152-4% Median Price $204,500 4% $197,000 1% 27% Average Price $214,448 5% $209,093 2% 27% Average Days (days) D 0 Sales 51 76% 206 8% Active Listings 76-37% % Median Price $451,000 6% $437,500 D 0% 31% Average Price $468,201 7% $453,802 1% 29% Average Days (days) Past 5 years Table 3 - by Less than S 200 to BA 250 to BA 300 and more B 17

19 Area 11 : Eastern Tip of the Island Sales % New Listings 634-6% Active Listings 1,023-8% Volume (in thousand $) 89,608 38% Sales 1,434-10% New Listings 2,811-10% Active Listings 1,093-2% Volume (in thousand $) 336,993-6% Past 5 years Sales % 782-2% Active Listings 517 D 0% 535 7% Median Price $243,750 5% $233,000 4% 35% Average Price $252,773 4% $244,373 3% 32% Average Days (days) Past 5 years Sales 87 18% % Active Listings % % Median Price $156,500-1% $156,950 1% 26% Average Price $161,422 1% $161,315 2% 25% Average Days (days) Past 5 years Sales 75 42% 252-9% Active Listings % 256-1% Median Price $340,000 11% $325,000 2% 33% Average Price $346,947 18% $323,417 1% 32% Average Days (days) Table 3 - by Buyer s market Less than S 200 to S 250 to BA 300 and more B 18

20 Laval Click on the sector number in order to access the associated page. Sales 1,095 36% New Listings 1,659-11% Active Listings 2,333-16% Volume (in thousand $) 287,636 48% Sales 4,726 3% New Listings 7,900-9% Active Listings 2,703 2% Volume (in thousand $) 1,183,653 8% Past 5 years Sales % 3,506 4% Active Listings 1,485-21% 1,764 D 0% Median Price $249,000 9% $239,900 4% 39% Average Price $274,197 10% $259,654 4% 39% Average Days (days) Past 5 years Sales % 926 1% Active Listings 671 1% % Median Price $173,500 D 0% $170,250 2% 27% Average Price $194,540 7% $187,545 4% 31% Average Days (days) Sales 91 75% 294 3% Active Listings % 216-9% Median Price $345,000 4% $345,000 6% 36% Average Price $344,931 5% $347,220 7% 40% Average Days (days) Past 5 years Table 3 - by Buyer s market Less than S 200 to S 300 to BA 400 to B 500 and more B 19

21 Area 12 : West of Laval Sales % New Listings % Active Listings 1,395-15% Volume (in thousand $) 170,886 45% Sales 2,756 2% New Listings 4,648-8% Active Listings 1,600 3% Volume (in thousand $) 696,359 7% Past 5 years Sales % 2,046 2% Active Listings % 1,022 D 0% Median Price $252,000 10% $242,000 5% 42% Average Price $280,190 12% $263,838 5% 42% Average Days (days) Past 5 years Sales % 588 3% Active Listings 447 D 0% % Median Price $178,950-2% $174,000 2% 31% Average Price $201,903 5% $192,863 4% 35% Average Days (days) Past 5 years Sales 37 54% 122-5% Active Listings 75-21% 91-10% Median Price $373,500 12% $362,750 12% 42% Average Price $366,197 6% $368,005 12% 45% Average Days (days) Table 3 - by Buyer s market Less than S 200 to S 300 to BA 400 and more B 20

22 Area 13 : East of Laval Sales % New Listings % Active Listings % Volume (in thousand $) 116,750 51% Sales 1,970 5% New Listings 3,252-9% Active Listings 1,102 D 0% Volume (in thousand $) 487,293 9% Past 5 years Sales % 1,460 7% Active Listings % 742-2% Median Price $241,000 5% $236,000 3% 37% Average Price $265,724 6% $253,811 3% 35% Average Days (days) Past 5 years Sales 78 13% 338-3% Active Listings 224 5% % Median Price $162,250-1% $165,000 1% 20% Average Price $180,193 8% $178,238 5% 24% Average Days (days) Past 5 years Sales 54 93% % Active Listings % 126-8% Median Price $330,000 3% $339,000 4% 36% Average Price $330,359 5% $332,476 3% 37% Average Days (days) Table 3 - by Buyer s market Less than S 200 to S 300 to BA 400 and more B 21

23 North Shore Click on the sector number in order to access the associated page. Sales 2,033 36% New Listings 3,590 D 0% Active Listings 5,432-6% Volume (in thousand $) 454,461 43% Sales 8,980 D 0% New Listings 16,301-4% Active Listings 5,913 5% Volume (in thousand $) 1,959,531 4% Past 5 years Sales 1,671 40% 7,450 1% Active Listings 4,428-4% 4,769 7% Median Price $210,000 6% $205,000 5% 41% Average Price $231,334 6% $224,771 4% 39% Average Days (days) Past 5 years Sales % 1,124-2% Active Listings 756-8% 863 2% Median Price $152,500 4% $150,000 5% 30% Average Price $157,320 6% $156,864 5% 30% Average Days (days) D 0 Sales % 386 1% Active Listings % % Median Price $260,000 D 0% $286,250 6% 36% Average Price $268,046 D 0% $281,182 3% 37% Average Days (days) Past 5 years Table 3 - by Buyer s market Less than 200 1, S 200 to 299 2, BA 300 to B 400 to B 500 and more B 22

24 Area 14 : West of the North Shore Sales % New Listings % Active Listings 968-2% Volume (in thousand $) 82,529 37% Sales 1,800-5% New Listings 3,167-1% Active Listings 1,042 8% Volume (in thousand $) 367,623-2% Past 5 years Sales % 1,571-4% Active Listings 828 2% % Median Price $200,000 4% $198,500 4% 38% Average Price $209,695 3% $206,596 2% 40% Average Days (days) Past 5 years Sales 33-13% % Active Listings 94 6% 98-6% Median Price $153,000-3% $152,500 3% 22% Average Price $156,897-4% $157,783 4% 26% Average Days (days) Past 5 years Sales % Active Listings 34-48% 42-23% Median Price ** $301,500 21% 57% Average Price ** $291,426 15% 48% Average Days (days) 86-2 Table 3 - by Buyer s market Less than S 200 to S 250 to B 300 and more B 23

25 Area 15 : Centre of the North Shore Sales % New Listings 604-7% Active Listings % Volume (in thousand $) 113,511 42% Sales 1,671-3% New Listings 2,874-9% Active Listings 1,043 1% Volume (in thousand $) 469,394 3% Past 5 years Sales % 1,359-4% Active Listings % 817 2% Median Price $280,000 15% $258,000 6% 39% Average Price $318,889 10% $298,793 8% 39% Average Days (days) Past 5 years Sales 50 16% 221 2% Active Listings % 181-1% Median Price $182,376 13% $170,000 4% 38% Average Price $181,132 9% $178,765 1% 33% Average Days (days) Sales % Active Listings 38-29% 45-18% Median Price ** $299,000 1% 27% Average Price ** $290,425-2% 29% Average Days (days) 74 2 Past 5 years Table 3 - by Buyer s market Less than S 200 to S 300 to BA 400 to BA 500 and more B 24

26 Area 16 : Terrebonne/Mascouche Sales % New Listings 959-3% Active Listings 1,407-9% Volume (in thousand $) 126,245 59% Sales 2,540 3% New Listings 4,375-4% Active Listings 1,583 4% Volume (in thousand $) 540,051 8% Past 5 years Sales % 2,165 3% Active Listings 1,171-10% 1,319 6% Median Price $205,000 3% $203,000 6% 45% Average Price $220,484 4% $217,459 5% 45% Average Days (days) Past 5 years Sales 69 82% % Active Listings 190 D 0% 208 1% Median Price $155,000 10% $154,450 7% 30% Average Price $158,297 10% $156,186 5% 30% Average Days (days) Past 5 years Sales % Active Listings 38-34% 47-18% Median Price ** $327,000 17% 49% Average Price ** $317,261 9% 46% Average Days (days) Table 3 - by Buyer s market Less than S 200 to S 250 to BA 300 and more B 25

27 Area 17 : East of the North Shore Sales % New Listings 769-2% Active Listings 1,308-1% Volume (in thousand $) 84,511 44% Sales 1,859 4% New Listings 3,530-1% Active Listings 1,359 11% Volume (in thousand $) 372,336 8% Past 5 years Sales % 1,479 3% Active Listings 1,052 2% 1,057 9% Median Price $195,000 4% $195,000 3% 37% Average Price $205,338 2% $206,895 3% 38% Average Days (days) Past 5 years Sales 67 37% 317 4% Active Listings 212-8% % Median Price $148,000 6% $142,000 5% 31% Average Price $152,637 4% $151,955 8% 33% Average Days (days) Past 5 years Sales % Active Listings 42-19% 44 11% Median Price ** $328,950 1% 83% Average Price ** $294,448-4% 53% Average Days (days) 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 % New Listings 542 2% Active Listings 835-5% Volume (in thousand $) 47,666 22% Sales 1,110 1% New Listings 2,355-6% Active Listings 886 D 0% Volume (in thousand $) 210,127 4% Past 5 years Sales % 876 6% Active Listings 650-4% 691 5% Median Price $190,000 12% $180,000 3% 38% Average Price $200,542 14% $190,969 3% 40% Average Days (days) Past 5 years Sales 30-14% % Active Listings 112-5% % Median Price $125,000 3% $127,450-1% 31% Average Price $126,307 4% $130,572 1% 16% Average Days (days) Past 5 years Sales 38 19% 114-5% Active Listings 67-11% 67-8% Median Price $205,000-10% $228,000-3% 38% Average Price $228,757-2% $240,045 2% 31% Average Days (days) Table 3 - by Buyer s market Less than S 200 to B 250 to B 300 and more B 27

29 Area 19 : Vaudreuil-Soulanges Sales % New Listings 722 D 0% Active Listings 1,123-11% Volume (in thousand $) 115,486 92% Sales 2,008 7% New Listings 3,648-1% Active Listings 1,291 4% Volume (in thousand $) 495,262 12% Past 5 years Sales % 1,728 5% Active Listings % 1,123 1% Median Price $232,750 10% $225,000 5% 30% Average Price $272,048 17% $256,469 5% 26% Average Days (days) Past 5 years Sales % % Active Listings % % Median Price $166,919 4% $162,000 9% 29% Average Price $166,181 9% $163,216 6% 18% Average Days (days) Sales % Active Listings Median Price ** $271,000 17% 64% Average Price ** $269,289 17% 45% Average Days (days) Past 5 years Table 3 - by Less than S 200 to S 300 to B 400 to B 500 and more B 28

30 South Shore Click on the sector number in order to access the associated page. Sales 2,246 49% New Listings 3,220-9% Active Listings 4,218-13% Volume (in thousand $) 551,398 55% Sales 9,805 4% New Listings 15,513-5% Active Listings 4,922 6% Volume (in thousand $) 2,372,280 8% Past 5 years Sales 1,578 43% 7,040 3% Active Listings 2,782-15% 3,291 4% Median Price $233,500 5% $230,000 5% 44% Average Price $262,555 6% $258,980 5% 42% Average Days (days) Past 5 years Sales % 2,274 8% Active Listings 1,178-2% 1,313 16% Median Price $170,000 2% $166,750 1% 27% Average Price $181,746 2% $178,263 1% 27% Average Days (days) Sales % 487-3% Active Listings % % Median Price $319,000 12% $309,500 12% 41% Average Price $315,987 11% $307,223 9% 41% Average Days (days) Past 5 years Table 3 - by Buyer s market Less than S 200 to 299 1, S 300 to S 400 to B 500 and more B 29

31 Area 20 : Châteauguay Sales % New Listings 346-7% Active Listings 539-4% Volume (in thousand $) 47,309 57% Sales % New Listings 1,638-2% Active Listings % Volume (in thousand $) 193,164 22% Past 5 years Sales % % Active Listings 440-5% % Median Price $189,765 2% $185,250 3% 36% Average Price $208,920 4% $202,295 6% 44% Average Days (days) 76 D Past 5 years Sales % Active Listings 75 11% 80 32% Median Price ** $151,356 10% 21% Average Price ** $150,417 7% 25% Average Days (days) Past 5 years Sales % Active Listings Median Price ** $200,000 5% 52% Average Price ** $215,038 9% 58% Average Days (days) 81-9 Table 3 - by Buyer s market Less than S 200 to BA 250 to B 300 and more B 30

32 Area 21 : South West of the South Shore Sales % New Listings 270 5% Active Listings 354-5% Volume (in thousand $) 44,397 88% Sales 847 5% New Listings 1,291 D 0% Active Listings % Volume (in thousand $) 181,891 11% Past 5 years Sales % 702 2% Active Listings 304-4% % Median Price $225,000 8% $215,000 5% 43% Average Price $233,725 13% $223,183 7% 45% Average Days (days) Past 5 years Sales % % Active Listings 35-3% 48 34% Median Price $148,000 D 0% $141,500 3% 25% Average Price $147,529 6% $144,976 3% 30% Average Days (days) Sales 6 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 B 31

33 Area 22 : Centre of the South Shore Sales % New Listings 747-7% Active Listings % Volume (in thousand $) 126,574 50% Sales 2,198 4% New Listings 3,522-4% Active Listings 1,138 5% Volume (in thousand $) 599,363 9% Past 5 years Sales % 1,314 1% Active Listings % 581-3% Median Price $274,000 6% $280,000 8% 51% Average Price $316,711-1% $319,789 6% 44% Average Days (days) Past 5 years Sales % 831 9% Active Listings 467-1% % Median Price $184,460 6% $179,500 3% 24% Average Price $195,520 6% $191,712 2% 23% Average Days (days) Sales % Active Listings % Median Price ** $370,250 18% 35% Average Price ** $384,721 24% 37% Average Days (days) 85-1 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 32

34 Area 23 : Longueuil Sales % New Listings % Active Listings % Volume (in thousand $) 142,734 51% Sales 2,439 1% New Listings 3,806-7% Active Listings 1,131 5% Volume (in thousand $) 550,780 6% Past 5 years Sales % 1,475 D 0% Active Listings % 557 6% Median Price $227,000 7% $219,450 5% 42% Average Price $249,014 11% $236,637 7% 41% Average Days (days) Past 5 years Sales % 671 7% Active Listings 357-1% % Median Price $169,500 7% $161,000 1% 26% Average Price $179,905 4% $170,697 D 0% 31% Average Days (days) Past 5 years Sales 83 28% 293-6% Active Listings % % Median Price $315,500 5% $310,000 9% 38% Average Price $311,401 6% $308,616 7% 38% Average Days (days) Table 3 - by Buyer s market Less than S 200 to S 250 to S 300 and more BA 33

35 Area 24 : Boucherville/Saint-Bruno Sales % New Listings % Active Listings % Volume (in thousand $) 56,581 55% Sales 872 5% New Listings 1,204-8% Active Listings 324 2% Volume (in thousand $) 258,070 9% Past 5 years Sales % 670 5% Active Listings % 243 1% Median Price $308,000 12% $280,000 4% 37% Average Price $343,726 11% $320,776 5% 33% Average Days (days) Past 5 years Sales % 189 4% Active Listings 58-5% 78 14% Median Price $188,000-19% $199,000-5% 21% Average Price $195,022-13% $205,881-3% 23% Average Days (days) Sales 3 13 Active Listings 1 3 Median Price ** ** Average Price ** ** Average Days (days) 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 284-7% Active Listings 320-9% Volume (in thousand $) 53,263 66% Sales 884-2% New Listings 1,327-7% Active Listings 371 6% Volume (in thousand $) 204,705 D 0% Past 5 years Sales % 744-1% Active Listings % 306 9% Median Price $229,950 4% $228,000 2% 39% Average Price $242,578 2% $242,643 2% 36% Average Days (days) Past 5 years Sales 30 30% 127-5% Active Listings 56 17% 55 4% Median Price $163,500-3% $162,000 1% 30% Average Price $166,102-2% $163,965-1% 27% Average Days (days) Sales 4 13 Active Listings 9 8 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 35

37 Area 26 : Beloeil/Mont-Saint-Hilaire Sales % New Listings 383-2% Active Listings % Volume (in thousand $) 53,528 38% Sales 964-3% New Listings 1,718-6% Active Listings 619 5% Volume (in thousand $) 232,153 D 0% Past 5 years Sales % 776-4% Active Listings 429-9% 493 5% Median Price $231,000 3% $229,500 2% 40% Average Price $263,073 8% $254,597 4% 41% Average Days (days) Past 5 years Sales % 158 1% Active Listings % % Median Price $165,700-2% $165,350-1% 31% Average Price $175,335 4% $171,041 1% 34% Average Days (days) Sales % Active Listings Median Price ** $255,000 3% 55% Average Price ** $252,050-2% 46% Average Days (days) 91-1 Past 5 years Table 3 - by Buyer s market Less than S 200 to S 250 to BA 300 and more B 36

38 Area 27 : Chambly Sales % New Listings % Active Listings % Volume (in thousand $) 27,010 67% Sales % New Listings 1,007-10% Active Listings 334-5% Volume (in thousand $) 152,155 21% Past 5 years Sales 94 57% % Active Listings % 278-5% Median Price $217,500 D 0% $230,000 4% 49% Average Price $245,253 5% $256,828 7% 49% Average Days (days) Past 5 years Sales % Active Listings 30-26% 36-9% Median Price ** $137,000-2% 19% Average Price ** $158,929 7% 35% Average Days (days) Sales 7 24 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 B 37

39 MLS System The MLS system is the most extensive and current computerized database of real estate transactions. Only real estate agents and 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 agents and 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 agent who is a member of a real estate board. 38