MLS Barometer - Residential Market. Highlights. Montréal Metropolitan Area. Fourth Quarter 2008

Transcription

1 Montréal Metropolitan Area MLS Barometer - Residential Highlights Resale Deceles at the End of the Year All Geographic Sectors are Affected Mode Price Increases No Longer a Seller s Overview of 2008: Second Best Year in History

2 Analysis Resale Deceles at the End of the Year Up until the end of the year, the resale market which had shown surprising strength finally started feeling the effect of today's economic turbulence. MLS statistics show that the Montréal Metropolitan Area finished 2008 with 6,834 residential transactions in the fourth quarter, 25 per cent less than the same period in Also in the fourth quarter, the number of active listings increased by 13 per cent compared to last year, giving buyers a bit more choice. As the economy's problems intensified, consumer confidence in Québec dropped. The proportion of Québecers who said that now is a good time to make a major purchase dropped from 54 per cent in the fourth quarter of 2007 to 26 per cent in the fourth quarter of 2008, its lowest level since As well, the Montréal Metropolitan Area registered 11,200 job losses in the Up until the end of the year, the resale market which had shown surprising strength finally started feeling the effect of today's economic turbulence. last quarter of 2008, bringing the unemployment to 7.5 per cent, an increase of 0.5 of a percentage point. On the other hand, as a counter-measure, the reduction in mortgage s will help stimulate the credit market and will no doubt be beneficial to the real estate market over the coming months. The average mortgage for a one-year term was down to 6.10 per cent (-0.65 of a percentage point), and s for three-year and five-year terms stayed stable. All Geographic Sectors Affected Also in the fourth quarter, three out of the five geographic sectors of the Montréal Metropolitan Area experienced similar declines: the Island of Montréal at -26 per cent, the North Shore at -25 per cent, and the South Shore at -25 per cent. The most pronounced decrease, at 33 per cent, was recorded in Vaudreuil-Soulanges, while the smallest decrease was in Laval (-18%). In terms of property categories, the market for single-family homes, which has the lion's share (60 %) of total sales in the Montréal Metropolitan Area, registered 4,019 transactions in the fourth quarter of 2008, a drop of 26 per cent compared to one year earlier. The strongest downward pressure came from the North Shore and Vaudreuil-Soulanges sectors, where the number of sales dropped 29 per cent and 30 per cent, respectively. As for condominium sales, which now represent nearly one out of every four sales in the Montréal Metropolitan Area, there was a decrease of 24 per cent in the number of transactions in the fourth quarter of 2008 compared to the same period in 2007, bringing the number of sales to 1,846. The largest decrease in condominium sales were on the South Shore (-29 per cent) and on the Island of Montréal (-26 per cent). Mode Price Increases The median price of a single-family home in the Montréal Metropolitan Area continued to climb in the last three months of 2008, reaching $227,000 an increase of 3 per cent compared to For condominiums, the median price decreased slightly by 1 per cent compared to the same period in 2007 to reach $186,000. The median price of plexes continued to grow (+3 per cent), reaching $335,000. These price increases are lower than those recorded during the first three quarters of the year, when it was a seller's market. No Longer a Seller's in Some Sectors Overall, market have gradually evolved into a balanced market in However, a buyer's market is slowly taking hold in certain sectors and price ranges. For example, the market for $300,000+ single-family homes is now a buyer's market on the North Shore, and in the Laval and Vaudreuil- Soulanges sectors. Of course, there are still several market segments in which sellers hold the big end of the stick when it comes to negotiating, but their numbers are starting to decrease. Overall, market have gradually evolved into a balanced market in However, a buyer's market is slowly taking hold in certain sectors and price ranges. Overview of 2008: Second Best Year in History Despite a sluggish last quarter, 2008 was still the second-best year in history. It ended with a total of 40,480 residential transactions in the Montréal Metropolitan Area, a decrease of 7 per cent compared to the record-breaking 44,176 transactions in The North Shore registered the largest decrease in sales with 8,960 transactions, 9 per cent less than the previous year. The Island of Montréal and Vaudreuil-Soulanges followed closely, with a decrease of 8 per cent. The South Shore (-5 per cent) and Laval (-6 per cent) sectors registered mode decreases. In 2008, condominium sales remained stable, while sales of single-family homes and plexes fell by 10 per cent and 9 per cent, respectively. As for median prices, the upward trend continued. Overall in 2008, the median price for single-family homes was $225,000 (+5 per cent), the median price for condominiums was $185,000 (+3 per cent) and the median price for plexes was $335,000 (+6 per cent). The total number of new listings for the year grew by 6 per cent compared to Finally, transactions in the plex market (2 to 5 dwelling) also fell in the fourth quarter of 2008, with 959 transactions, a 23 per cent drop compared to the same period in The Island of Montréal (-24 per cent) and Laval (-32 per cent) experienced the largest decrease in plex sales. 1

3 Economic Indicators Mortgage s (3) Level Variation (1) Trend (2) 1-year term 6.1% year term 6.8% year term 7.1% Inflation (Canada) (1) Variation from previous quarter (2) Variation from the same quarter one year ago (3) Administd s 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 Level Overall 1.9% -1.5 Reference (4) 2.2% 0.5 Consumer confidence level (Québec province) Overall Good time to make a major purchase (5) 26% Labour market (Montréal census metropolitan area) Level Niveau Employment (in thousands) (6) 1, Unemployment (6) 7.5% Housing starts (Montréal census metropolitan area) Level Variation (1) Trend (2) Total 5,331 N/A 3% Single-Family 2,015 N/A -20% 933 N/A 6% Rental 2,251 N/A 32% N/A N/A Variation (1) Trend (2) Variation (1) Tendance (2) Variation (1) Trend (2) Note : Green arrows indicate good news and red arrows indicate bad news. The arrows indicate stability. Sources : Statistics Canada, Conference Board and CMHC Evolution of Mortgage Rates - 5 Year Term % Source : Statistics Canada 2

4 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 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 $ 240, , , , , , , , % 16% 14% Rate of Change in the Median Price - Montréal Metropolitan Area 13% 17% 14% 12% 10% 9% 10% 8% 6% 4% 2% 4% 7% 5% 0%

7 Montréal Metropolitan Area Sales 6,834-25% New Listings 15,731 3% Volume (in thousand $) 1,793,634-25% Sales 40,480-7% New Listings 74,836 6% Volume (in thousand $) 10,494,431-4% 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 4,019-26% 24,293-10% Active Listings 13,599 21% 13,089 10% Median Price $227,000 3% $225,000 5% 52% Average Price $265,625 1% $263,456 5% 47% Average Days (days) Sales 1,846-24% 11,559 0% Active Listings 6,981 5% 7,021 1% Median Price $186,000-1% $185,000 3% 34% Average Price $215,546-3% $216,248 1% 30% Average Days (days) Sales % 4,584-9% Active Listings 3,175 14% 3,025 15% Median Price $335,000 3% $335,000 6% 57% Average Price $339,038 0% $345,184 5% 54% Average Days (days) Table 3 - Conditions by Price Range / Less than 200 2, S 200 to 299 5, S 300 to 399 2, BA 400 to B 500 and more 1, B 6

8 Island of Montréal Click on the sector number in order to access the associated page. Sales 2,748-26% New Listings 6,013 0% Volume (in thousand $) 861,461-27% Sales 15,608-8% New Listings 29,095 3% Volume (in thousand $) 4,881,587-5% Sales % 5,044-14% Active Listings 2,699 28% 2,592 9% Median Price $291,000 4% $290,000 6% 41% Average Price $367,728-1% $374,032 5% 39% Average Days (days) Sales 1,149-26% 7,184-2% Active Listings 4,191 0% 4,305-1% Median Price $219,000 2% $215,000 2% 33% Average Price $243,628-3% $244,950 2% 28% Average Days (days) Sales % 3,380-9% Active Listings 2,249 16% 2,126 15% Median Price $350,000 3% $350,250 6% 55% Average Price $358,515 1% $365,783 5% 54% Average Days (days) Table 3 - Conditions by Price Range / Less than 200 1, S 200 to 299 1, S 300 to S 400 to B 500 and more B 7

9 Area 1 : West Island Sales % New Listings % Volume (in thousand $) 126,162-29% Sales 2,599-14% New Listings 4,660-4% Volume (in thousand $) 806,073-7% Sales % 2,026-15% Active Listings % 957 6% Median Price $289,000 7% $285,000 8% 38% Average Price $337,360 4% $339,047 10% 39% Average Days (days) Sales 83-27% % Active Listings % % Median Price $172,250-2% $177,000 4% 39% Average Price $194,042 0% $196,106 5% 44% Average Days (days) Sales % Active Listings % Median Price ** $325,000 7% 55% Average Price ** $333,315 1% 47% Average Days (days) 82 6 Table 3 - Conditions by Price Range / 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 % Volume (in thousand $) 93,686-17% Sales 1,625-8% New Listings 2,842 1% Volume (in thousand $) 502,124-4% Sales 90-11% % Active Listings % 240 5% Median Price $340,500 3% $335,750 6% 46% Average Price $396,671 9% $369,841 5% 42% Average Days (days) Sales % 763-8% Active Listings % % Median Price $220,000 7% $210,000 3% 30% Average Price $230,015 2% $225,036 5% 30% Average Days (days) Sales 76-16% 374-1% Active Listings % % Median Price $382,950 2% $391,000 4% 42% Average Price $393,736 0% $401,461 3% 43% Average Days (days) Table 3 - Conditions by Price Range / Less than S 200 to S 250 to BA 300 and more BA 9

11 Area 3 : South-West of Island Sales % New Listings 745-8% Volume (in thousand $) 92,140-29% Sales 1,976-9% New Listings 3,620 6% Volume (in thousand $) 518,751-6% Sales 63-44% % Active Listings % % Median Price $280,000 8% $275,000 8% 53% Average Price $294,461 7% $284,196 6% 50% Average Days (days) Sales % 973 0% Active Listings % 505 1% Median Price $213,500 7% $203,000 5% 40% Average Price $226,109 8% $218,918 4% 42% Average Days (days) Sales % % Active Listings 441 8% % Median Price $300,000-3% $319,800 10% 68% Average Price $296,397-5% $315,641 6% 60% Average Days (days) Table 3 - Conditions by Price Range / Less than S 200 to S 250 to S 300 and more S 10

12 Area 4 : CDN/NDG/CSL Sales % New Listings % Volume (in thousand $) 65,641-30% Sales 1,112-3% New Listings 2,174 8% Volume (in thousand $) 410,345 1% Sales 53-25% % Active Listings % 133 3% Median Price $360,000-9% $415,000 5% 30% Average Price $418,179-9% $477,573 8% 37% Average Days (days) Sales 90-18% 581 7% Active Listings % % Median Price $241,560-13% $250,000-2% 8% Average Price $273,544-7% $280,360 1% 10% Average Days (days) Sales 45-34% 226-9% Active Listings 122 6% 126-3% Median Price $410,000 8% $418,250 11% 46% Average Price $415,167 0% $448,069 10% 44% Average Days (days) Table 3 - Conditions by Price Range / Less than BA 200 to S 300 to S 400 and more B 11

13 Area 5 : Centre Sales % New Listings 414 0% Volume (in thousand $) 100,643-37% Sales 1,082-12% New Listings 2,165 2% Volume (in thousand $) 640,520-9% Sales 82-29% % Active Listings % % Median Price $665,000-13% $757,500 4% 34% Average Price $809,113-11% $871,422 4% 36% Average Days (days) Sales 80-38% % Active Listings 421 5% 427 4% Median Price $335,000 6% $335,000 7% 30% Average Price $371,733-1% $376,276 5% 31% Average Days (days) Sales % Active Listings % Median Price ** $620,000 9% 32% Average Price ** $635,048 6% 30% Average Days (days) 85 7 Table 3 - Conditions by Price Range / Less than B 200 to S 300 to S 400 to B 500 and more B 12

14 Area 6 : Ville-Marie Sales % New Listings 536 2% Volume (in thousand $) 64,151-35% Sales 1,126-10% New Listings 2,536 1% Volume (in thousand $) 360,096-15% Sales % Active Listings % Median Price ** $484,500-20% 36% Average Price ** $620,208-19% 27% Average Days (days) 77 2 Sales % % Active Listings 718 3% 727-9% Median Price $254,000-6% $255,000 0% 18% Average Price $296,449-18% $308,533-3% 16% Average Days (days) Sales % Active Listings % Median Price ** $284,000-8% 58% Average Price ** $321,834-1% 46% Average Days (days) Table 3 - Conditions by Price Range / Less than S 200 to S 300 to BA 400 to B 500 and more B 13

15 Area 7 : Le Plateau Sales % New Listings % Volume (in thousand $) 55,814-25% Sales % New Listings 1,853 9% Volume (in thousand $) 297,681-6% Sales % Active Listings % Median Price ** $474,000 10% 58% Average Price ** $499,786 15% 60% Average Days (days) Sales % % Active Listings % 352-1% Median Price $245,000-5% $255,000 6% 41% Average Price $252,185-2% $265,092 6% 41% Average Days (days) Sales 42-14% 148-6% Active Listings % 98 30% Median Price $417,500-7% $425,000-2% 46% Average Price $456,607-2% $455,595 1% 52% Average Days (days) Table 3 - Conditions by Price Range / Less than S 200 to S 300 to S 400 and more B 14

16 Area 8 : Rosemont/Villeray Sales % New Listings 642-4% Volume (in thousand $) 104,716-22% Sales 1,753-5% New Listings 2,866 0% Volume (in thousand $) 508,834-3% Sales 36-32% % Active Listings 82 15% 77 20% Median Price $237,750-10% $235,000-5% 44% Average Price $268,250-3% $256,345-2% 43% Average Days (days) Sales % 723 7% Active Listings % 294-9% Median Price $222,000 11% $205,000 4% 27% Average Price $237,924 12% $219,328 4% 33% Average Days (days) Sales % % Active Listings % % Median Price $360,000 8% $347,000 5% 56% Average Price $364,120 5% $358,628 5% 57% Average Days (days) Table 3 - Conditions by Price Range / Less than S 200 to S 250 to S 300 and more S 15

17 Area 9 : Mercier/Hochelaga-Maisonneuve Sales % New Listings 446-2% Volume (in thousand $) 62,696-14% Sales 1,190 4% New Listings 2,136 8% Volume (in thousand $) 294,324 5% Sales 50-9% 198-4% Active Listings 74 1% 72-1% Median Price $228,750 6% $241,500 10% 58% Average Price $247,255 10% $248,740 10% 57% Average Days (days) Sales 99-11% % Active Listings 355 5% % Median Price $179,500 6% $180,000 6% 40% Average Price $182,474 2% $182,025 5% 41% Average Days (days) Sales 99-21% % Active Listings % % Median Price $325,000 2% $325,000 7% 64% Average Price $325,938 0% $329,634 5% 58% Average Days (days) Table 3 - Conditions by Price Range / Less than S 150 to BA 200 to S 250 and more BA 16

18 Area 10 : Anjou/Saint-Léonard Sales % New Listings 238 3% Volume (in thousand $) 30,376-17% Sales 578-1% New Listings 1,112 9% Volume (in thousand $) 182,157 2% Sales 32 0% 157-8% Active Listings 83 7% 85 8% Median Price $286,000-5% $293,000 1% 40% Average Price $294,547-9% $310,416-1% 38% Average Days (days) Sales 38-16% 229 5% Active Listings % % Median Price $197,500 5% $195,000 8% 41% Average Price $204,668-2% $204,066 5% 43% Average Days (days) Sales 30-25% 192-2% Active Listings % % Median Price $430,500 3% $436,500 6% 46% Average Price $439,097 4% $451,516 7% 44% Average Days (days) Table 3 - Conditions by Price Range / 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 675-7% Volume (in thousand $) 65,436-23% Sales 1,600-4% New Listings 3,131 6% Volume (in thousand $) 360,681-1% Sales % 797-8% Active Listings % % Median Price $233,000 6% $225,000 5% 51% Average Price $243,056 6% $236,503 5% 51% Average Days (days) Sales 74-37% 524 6% Active Listings % % Median Price $158,000 2% $155,000 4% 48% Average Price $159,652-3% $158,206 2% 45% Average Days (days) Sales 54-33% 279-6% Active Listings % % Median Price $305,000-1% $320,000 3% 52% Average Price $295,338-5% $320,573 3% 50% Average Days (days) Table 3 - Conditions by Price Range 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 % New Listings 1,866 5% Volume (in thousand $) 195,324-17% Sales 4,576-6% New Listings 8,648 8% Volume (in thousand $) 1,098,163-2% Sales % 3,369-8% Active Listings 1,888 26% 1,771 13% Median Price $229,000 2% $230,000 6% 53% Average Price $250,357 3% $249,226 6% 54% Average Days (days) Sales % 921 7% Active Listings 663 6% 641 6% Median Price $173,250 3% $167,000 3% 41% Average Price $181,688-1% $179,577 3% 40% Average Days (days) Sales 52-32% % Active Listings 228 8% % Median Price $333,000 6% $325,000 1% 55% Average Price $328,423 1% $325,462 1% 51% Average Days (days) Table 3 - Conditions by Price Range Buyer s market / Less than S 200 to S 300 to B 400 to B 500 and more B 19

21 Area 12 : West of Laval Sales % New Listings 1,102 4% Volume (in thousand $) 117,879-18% Sales 2,701-9% New Listings 5,078 3% Volume (in thousand $) 652,367-4% Sales % 1,999-11% Active Listings 1,081 20% 1,018 9% Median Price $228,500 2% $230,000 6% 53% Average Price $250,740 0% $251,866 6% 56% Average Days (days) Sales 97-23% 573-2% Active Listings 451 6% 431 3% Median Price $182,500 9% $170,000 4% 39% Average Price $192,579 3% $185,698 4% 40% Average Days (days) Sales % Active Listings % Median Price ** $325,000 6% 53% Average Price ** $328,963 3% 45% Average Days (days) Table 3 - Conditions by Price Range / Less than S 200 to S 300 to B 400 and more B 20

22 Area 13 : East of Laval Sales % New Listings 764 6% Volume (in thousand $) 77,445-15% Sales 1,875 0% New Listings 3,570 15% Volume (in thousand $) 445,797 3% Sales % 1,370-3% Active Listings % % Median Price $230,000 4% $230,000 5% 53% Average Price $249,752 7% $245,373 6% 51% Average Days (days) Sales 69 11% % Active Listings 212 5% % Median Price $164,500-4% $163,863 4% 47% Average Price $166,376-6% $169,500 2% 41% Average Days (days) Sales % Active Listings % Median Price ** $325,000-1% 55% Average Price ** $322,608-1% 55% Average Days (days) Table 3 - Conditions by Price Range Buyer s market / Less than S 200 to S 300 to B 400 and more B 21

23 North Shore Click on the sector number in order to access the associated page. Sales 1,497-25% New Listings 3,589 7% Volume (in thousand $) 318,185-24% Sales 8,960-9% New Listings 17,001 10% Volume (in thousand $) 1,881,213-5% Sales 1,195-29% 7,404-12% Active Listings 4,627 22% 4,464 13% Median Price $198,400 4% $195,500 6% 52% Average Price $218,476 3% $215,476 5% 52% Average Days (days) Sales 204-1% 1,145 11% Active Listings % % Median Price $146,750 2% $143,000 5% 46% Average Price $149,023-2% $149,895 3% 42% Average Days (days) Sales 91-13% 384-7% Active Listings % % Median Price $260,000-6% $268,000 0% 60% Average Price $266,237-1% $272,166 3% 61% Average Days (days) Table 3 - Conditions by Price Range / Less than 200 1, S 200 to 299 1, BA 300 to B 400 to B 500 and more B 22

24 Area 14 : West of the North Shore Sales % New Listings 628-5% Volume (in thousand $) 60,416-24% Sales 1,890-6% New Listings 3,206 5% Volume (in thousand $) 376,667 0% Sales % 1,634-7% Active Listings % 788 6% Median Price $192,000 4% $190,000 4% 51% Average Price $202,678 5% $201,758 7% 57% Average Days (days) Sales 38 6% 194 3% Active Listings 88-8% 105 9% Median Price $157,250 10% $148,700 6% 47% Average Price $162,716 10% $152,228 5% 36% Average Days (days) Sales % Active Listings % Median Price ** $249,900-13% 59% Average Price ** $252,218-4% 50% Average Days (days) Table 3 - Conditions by Price Range / 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 651-5% Volume (in thousand $) 80,155-19% Sales 1,724-8% New Listings 3,176 8% Volume (in thousand $) 455,805-7% Sales % 1,410-13% Active Listings % 799 8% Median Price $242,500 4% $242,385 3% 48% Average Price $289,923 5% $275,431 2% 44% Average Days (days) Sales 43 34% % Active Listings % % Median Price $161,500 0% $163,750 4% 48% Average Price $165,556-10% $176,833 3% 51% Average Days (days) Sales % Active Listings % Median Price ** $296,000 2% 52% Average Price ** $297,467 7% 55% Average Days (days) Table 3 - Conditions by Price Range Buyer s market / Less than S 200 to S 300 to BA 400 and more B 24

26 Area 16 : Terrebonne/Mascouche Sales % New Listings 990 7% Volume (in thousand $) 79,236-32% Sales 2,459-11% New Listings 4,550 9% Volume (in thousand $) 500,060-6% Sales % 2,101-14% Active Listings 1,295 24% 1,250 15% Median Price $200,000 5% $192,000 6% 54% Average Price $212,839 5% $207,121 7% 61% Average Days (days) Sales 38-19% % Active Listings 188 1% % Median Price $141,500-8% $144,000 3% 45% Average Price $144,376-4% $148,657 4% 35% Average Days (days) Sales % Active Listings % Median Price ** $280,000-2% 57% Average Price ** $290,480-1% 65% Average Days (days) Table 3 - Conditions by Price Range Buyer s market / Less than S 200 to S 250 to B 300 and more B 25

27 Area 17 : East of the North Shore Sales % New Listings % Volume (in thousand $) 58,982-23% Sales 1,785-15% New Listings 3,552 12% Volume (in thousand $) 345,980-11% Sales % 1,431-15% Active Listings 1,031 26% % Median Price $187,000 4% $189,900 6% 51% Average Price $200,970 5% $201,372 6% 50% Average Days (days) Sales 50-40% % Active Listings % 209-6% Median Price $139,500 2% $136,000 4% 45% Average Price $147,060 0% $141,172 2% 42% Average Days (days) Sales % Active Listings % Median Price ** $325,000 7% 93% Average Price ** $306,879 10% 78% Average Days (days) Table 3 - Conditions by Price Range / Less than S 200 to BA 250 to B 300 and more B 26

28 Area 18 : Saint-Jérôme Sales 221-3% New Listings % Volume (in thousand $) 39,396-12% Sales 1,102-3% New Listings 2,517 19% Volume (in thousand $) 202,701 0% Sales % 828-7% Active Listings % % Median Price $169,900-3% $175,000 5% 50% Average Price $176,936-7% $185,978 5% 54% Average Days (days) Sales % % Active Listings % % Median Price $121,000 3% $128,475 6% 43% Average Price $121,696-6% $128,860-2% 33% Average Days (days) Sales 32-6% 120-9% Active Listings 74 6% 73-1% Median Price $227,500-5% $234,250 9% 72% Average Price $234,147-4% $235,353 3% 66% Average Days (days) Table 3 - Conditions by Price Range 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 724-5% Volume (in thousand $) 60,667-36% Sales 1,885-8% New Listings 3,680 4% Volume (in thousand $) 441,312-6% Sales % 1,651-8% Active Listings 1,117 13% 1,111 3% Median Price $212,000-4% $215,000 3% 43% Average Price $233,633-6% $243,557 2% 41% Average Days (days) Sales % Active Listings % Median Price ** $148,250 7% 29% Average Price ** $153,529 6% 17% Average Days (days) Sales % Active Listings % Median Price ** $232,000 7% 55% Average Price ** $231,000 3% 49% Average Days (days) Table 3 - Conditions by Price Range / 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 1,514-25% New Listings 3,539 4% Volume (in thousand $) 357,997-22% Sales 9,451-5% New Listings 16,412 5% Volume (in thousand $) 2,192,155-1% Sales 1,103-24% 6,825-7% Active Listings 3,268 16% 3,151 8% Median Price $222,750 4% $220,000 5% 55% Average Price $248,922 3% $245,624 5% 54% Average Days (days) Sales % 2,115 0% Active Listings 1,202 9% 1,130-7% Median Price $166,234 3% $165,000 5% 42% Average Price $177,508 1% $176,506 3% 43% Average Days (days) Sales % % Active Listings 367 6% % Median Price $285,000 0% $276,000 2% 57% Average Price $283,710-1% $280,963 3% 54% Average Days (days) Table 3 - Conditions by Price Range / Less than S 200 to 299 1, S 300 to BA 400 to B 500 and more B 29

31 Area 20 : Châteauguay Sales 156-8% New Listings % Volume (in thousand $) 30,319-5% Sales 847 0% New Listings 1,670 24% Volume (in thousand $) 158,100 5% Sales % 739-2% Active Listings % % Median Price $186,500 4% $179,750 4% 54% Average Price $200,035 5% $190,377 6% 58% Average Days (days) Sales % Active Listings % Median Price ** $137,721-5% 17% Average Price ** $141,181 2% 22% Average Days (days) Sales % Active Listings % Median Price ** $178,500 6% 63% Average Price ** $194,123 8% 74% Average Days (days) Table 3 - Conditions by Price Range / 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 % Volume (in thousand $) 23,578-40% Sales % New Listings 1,290-4% Volume (in thousand $) 163,393-8% Sales % % Active Listings 319 3% 303-6% Median Price $208,000 4% $204,000 7% 55% Average Price $206,586-2% $208,978 6% 55% Average Days (days) Sales % Active Listings % Median Price ** $137,500-1% 45% Average Price ** $140,332 1% 44% Average Days (days) Sales 4 20 Active Listings Median Price ** ** Average Price ** ** Average Days (days) Table 3 - Conditions by Price Range / Less than S 200 to S 250 to BA 300 and more B 31

33 Area 22 : Centre of the South Shore Sales % New Listings 809 9% Volume (in thousand $) 85,333-21% Sales 2,110 1% New Listings 3,663 2% Volume (in thousand $) 550,008 4% Sales % 1,299-2% Active Listings 606 5% 598-4% Median Price $258,000 0% $260,000 3% 52% Average Price $321,848 8% $301,622 5% 52% Average Days (days) Sales % 762 7% Active Listings 472 7% % Median Price $173,000 2% $174,000 4% 36% Average Price $183,762-1% $187,716 2% 34% Average Days (days) Sales % Active Listings % Median Price ** $315,000 1% 43% Average Price ** $309,421-4% 34% Average Days (days) Table 3 - Conditions by Price Range / Less than S 200 to S 300 to S 400 to BA 500 and more B 32

34 Area 23 : Longueuil Sales % New Listings 919 5% Volume (in thousand $) 95,121-21% Sales 2,408-7% New Listings 4,100 2% Volume (in thousand $) 521,780-3% Sales % 1,470-7% Active Listings % 526-1% Median Price $213,000 5% $210,000 6% 56% Average Price $225,731 3% $221,675 5% 55% Average Days (days) Sales 94-33% 626-6% Active Listings 360 9% 334-5% Median Price $158,500-3% $160,000 5% 45% Average Price $173,020 0% $169,846 3% 51% Average Days (days) Sales 65-21% 312-6% Active Listings 222 4% 213 5% Median Price $300,000 3% $285,000 2% 58% Average Price $294,958 1% $288,981 4% 57% Average Days (days) Table 3 - Conditions by Price Range / Less than S 200 to S 250 to S 300 and more BA 33

35 Area 24 : Boucherville/Saint-Bruno Sales % New Listings 264 7% Volume (in thousand $) 36,626-32% Sales % New Listings 1,316 5% Volume (in thousand $) 236,120-7% Sales 99-36% % Active Listings % 243-2% Median Price $275,000 8% $268,000 5% 47% Average Price $309,259 5% $304,677 4% 45% Average Days (days) Sales % Active Listings % Median Price ** $210,000 7% 50% Average Price ** $211,851 6% 50% Average Days (days) Sales 2 11 Active Listings 8 6 Median Price ** ** Average Price ** ** Average Days (days) Table 3 - Conditions by Price Range / Less than S 200 to S 300 to S 400 to B 500 and more B 34

36 Area 25 : Sainte-Julie/Varennes Sales % New Listings 304 6% Volume (in thousand $) 32,048-17% Sales 903-4% New Listings 1,434 9% Volume (in thousand $) 205,650 1% Sales % 749-6% Active Listings % 281 9% Median Price $221,000 4% $223,000 6% 51% Average Price $238,020 4% $237,768 6% 49% Average Days (days) Sales % Active Listings % Median Price ** $161,000 11% 41% Average Price ** $165,963 8% 36% Average Days (days) Sales 2 18 Active Listings Median Price ** ** Average Price ** ** Average Days (days) Table 3 - Conditions by Price Range / Less than S 200 to S 250 to S 300 and more BA 35

37 Area 26 : Beloeil/Mont-Saint-Hilaire Sales % New Listings 390-3% Volume (in thousand $) 38,740-17% Sales 990-4% New Listings 1,826 7% Volume (in thousand $) 230,951-1% Sales % 806-5% Active Listings % % Median Price $223,900 1% $224,500 3% 56% Average Price $244,308 1% $245,117 4% 56% Average Days (days) Sales % Active Listings % Median Price ** $166,750 6% 52% Average Price ** $169,756 5% 49% Average Days (days) Sales 6 27 Active Listings Median Price ** ** Average Price ** ** Average Days (days) Table 3 - Conditions by Price Range / Less than S 200 to S 250 to BA 300 and more B 36

38 Area 27 : Chambly Sales 72-30% New Listings 220-1% Volume (in thousand $) 16,232-30% Sales 554-9% New Listings 1,113 13% Volume (in thousand $) 126,154-5% Sales 60-31% % Active Listings % % Median Price $216,515 11% $221,500 14% 64% Average Price $233,099 2% $239,019 7% 62% Average Days (days) Sales % Active Listings % Median Price ** $139,700 3% 59% Average Price ** $148,660 4% 52% Average Days (days) Sales 1 22 Active Listings Median Price ** ** Average Price ** ** Average Days (days) 59-8 Table 3 - Conditions by Price Range / Less than S 200 to S 250 to BA 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. 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 are met. Volume of Sales Total value of sales, in dollars ($), with a date corresponding to the targeted period. Average Sale Price Average value of sales, in dollars ($), 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. Average Selling Time Average number of days between the sale date and the date the brokerage contract is signed, for a given listing. Same as Active Listings. Same as Number of Sales. Rate 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 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 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. Conditions are based on the absorption. Due to the way the absorption is calculated (see above), market reflect the situation over the past 12 months. If the absorption 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 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 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 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. This publication is produced by the Analysis Department of the Québec Federation of Real Estate Boards. For more information, contact Paul Cardinal, Analysis Manager at the QFREB, by at paul.cardinal@fciq.ca. 38