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

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1 Montréal Metropolitan Area MLS Barometer - Residential Highlights Prices Held Their Ground Decrease in Sales Price Increase Reassuring Many Areas Still Seller's

2 Analysis Prices Held Their Ground While the real estate market in Western Canada's major urban centres suffered greatly as a result of the economic downturn, the Montréal Census Metropolitan Area (CMA) market fared quite well. The only impact felt by the Montréal CMA was a drop in sales, as residential property prices continued to increase. In the first quarter of 2009, buyers benefited from the lowest mortgage s in more than half a century. There were about 36,400 jobs lost in the Montréal area in the first quarter of Despite this, consumer confidence was growing. In March, 39 per cent of Québecers said that it was a good time to make a major purchase, such as a property. Although far from the consumer confidence levels seen in past years, it was an increase compared to the previous quarter, when it hit a low of 25 per cent. This renewed consumer optimism coincided with the reduction in mortgage s which, in March, averaged 5.55 per cent for a five-year term. In the first quarter of 2009, buyers benefited from the lowest mortgage s in more than half a century. Decrease in Sales There were 9,089 sales transactions in the Montréal CMA in the first quarter of 2009, a 24 per cent decrease compared to the same period last year. However, despite significant drops in January (-37 per cent) and February (-33 per cent), sales did recover in March (-12 per cent), a sign that the market had started to improve since the start of the year. Similar decreases were also experienced in all of the CMAs' major geographic areas in the first quarter of 2009: Island of Montréal (-23 per cent), Laval (-21 per cent), North Shore (-25 per cent), South Shore (-26 per cent) and Vaudreuil-Soulanges (-30 per cent). Sales of single-family homes decreased by 24 per cent, condominiums by 26 per cent and plexes by 21 per cent, compared to the first quarter of Only three areas boasted an increase in sales: single-family homes in Rosemont/Villeray (+5 per cent) and Anjou/Saint-Léonard (+5 per cent), as well as plexes in Plateau-Mont-Royal (+16 per cent). Price Increase Reassuring Property prices continued to grow throughout the Montréal Metropolitan Area, despite a slowdown in sales. Single-family home median prices increased by 2 per cent compared to the same period last year, reaching $225,000 in the first quarter of s had the largest price increase, at 4 per cent, reaching a median price of $184,500, while the median price of plexes continued to grow at a of 2 per cent, hitting $337,000. (+13 per cent) in the median price of condominiums took place in the Centre of the North Shore area. The smallest price increase was on the Island of Montréal. Only the median price of condominiums increased, by 5 per cent. The median price of single-family homes and plexes on the Island remained stable at $285,000 and $349,000, respectively. Many Areas Still Seller's The number of active listings increased for all property categories in the Montréal CMA. They increased by 11 per cent on the Island of Montréal, and by 18 per cent in Laval, the North Shore and the South Shore. This was caused by properties taking a longer time to sell, rather than an increase in the number of new listings. In fact, the number of new listings throughout the Montréal region decreased at a of 4 to 5 per cent, while the sales time for single-family homes increased by 10 days, condominiums by 3 days, and plexes by 8 days. Active listings for single-family homes increased by 19 per cent in the Montréal Metropolitan Area the most significant increase while active listings for plexes increased by 9 per cent and condominiums by 10 per cent compared to the start of This did not include the inventory of approximately 1,600 newly built condominium units which remained unoccupied 1, and competed with the condominium resale market. Overall, market remained relatively balanced. Overall, market remained relatively balanced. For example, the plex and condominium markets were balanced, as the absorption stood between 8 to 9 months 2. In contrast, the single-family homes' inventory was absorbed a little faster. In fact, it was still a seller's market for single-family homes on the Island of Montréal, in Laval and on the South Shore. The North Shore and Vaudreuil-Soulanges were the only areas that experienced a balanced market, but they also had the lowest median price. In the Montréal CMA, it was apparent that property values influenced market. It was a seller's market for those single-family homes in a more affordable price range, but it was a buyer's market for properties in a higher price range. For example, on the Island of Montréal and on the South Shore, it was a buyer's market for properties priced at $400,000 or more. And in Laval, the North Shore and Vaudreuil-Soulanges, it was a buyer's market for single-family homes priced at $300,000 or more. Property prices continued to grow throughout the Montréal Metropolitan Area, despite a slowdown in sales. Single-family home prices increased the most in Mercier/Hochelaga-Maisonneuve (+17 per cent) and Anjou/ Saint-Léonard (+11 per cent). A considerable increase 1 Source: CMHC 2 See the "" section. 1

3 Economic Indicators Mortgage s (3) Level Variation (1) Trend (2) 1-year term 4.8% year term 5.2% year term 5.7% 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 (7) The total also includes co-operative housing Sources : Statistics Canada, Conference Board and CMHC Level Overall 1.2% -0.7 Reference (4) 1.9% -0.2 Consumer confidence level (Québec province) Overall Good time to make a major purchase (5) 32% 6-17 Labour market (Montréal census metropolitan area) Level Niveau Employment (in thousands) (6) 1, Unemployment (6) 8.6% Housing starts (Montréal census metropolitan area) Total (7) 3,753 N/A -31% Single-Family 1,185 N/A -35% 1,417 N/A -30% Rental 790 N/A -44% Level Variation (1) Trend (2) 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. Monthly evolution of mortgage s 5-year term % 8 7,5 7 6,5 6 5, 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, Evolution of Conditions - 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 9,089-24% New Listings 22,033-5% Active Listings 27,658 15% Volume (in thousand $) 2,309,105-22% Sales 37,556-13% New Listings 73,711 3% Active Listings 24,121 13% Volume (in thousand $) 9,814,905-10% 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 5,649-24% 22,522-15% Active Listings 16,053 19% 13,745 17% Median Price $225,000 2% $228,000 4% 47% Average Price $257,659 2% $265,495 3% 41% Average Days (days) Sales 2,523-26% 10,665-9% Active Listings 8,150 10% 7,209 5% Median Price $184,500 4% $188,000 4% 30% Average Price $214,628 3% $218,590 2% 27% Average Days (days) Sales % 4,326-12% Active Listings 3,382 9% 3,099 14% Median Price $337,000 2% $338,000 5% 50% Average Price $343,761 0% $345,605 3% 47% Average Days (days) Evolution of Conditions Table 3 - Conditions by Price Range Less than 200 2, S 200 to 299 5, S 300 to 399 2, B 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 3,379-23% New Listings 8,393-5% Active Listings 10,299 11% Volume (in thousand $) 1,028,687-22% Sales 14,600-13% New Listings 28,614 1% Active Listings 9,275 9% Volume (in thousand $) 4,588,621-11% Sales 1,157-19% 4,761-16% Active Listings 3,116 21% 2,731 18% Median Price $285,000 0% $292,000 4% 36% Average Price $351,327-2% $372,951 3% 34% Average Days (days) Sales 1,528-27% 6,615-11% Active Listings 4,783 4% 4,356 1% Median Price $215,000 5% $217,500 4% 29% Average Price $244,344 4% $247,743 2% 25% Average Days (days) Sales % 3,224-11% Active Listings 2,401 11% 2,188 15% Median Price $349,000 0% $350,000 4% 46% Average Price $359,109-2% $364,647 3% 46% Average Days (days) Evolution of Conditions Table 3 - Conditions by Price Range Less than 200 1, S 200 to 299 1, S 300 to BA 400 to B 500 and more B 7

9 Area 1 : West Island Sales % New Listings 1,371-8% Active Listings 1,427 6% Volume (in thousand $) 171,786-26% Sales 2,389-20% New Listings 4,532-3% Active Listings 1,298 5% Volume (in thousand $) 743,389-15% Sales % 1,884-19% Active Listings 1,115 16% % Median Price $285,000 0% $285,000 4% 33% Average Price $328,494 0% $338,505 5% 35% Average Days (days) Sales % % Active Listings % % Median Price $183,500 5% $179,365 4% 36% Average Price $197,422 1% $196,426 3% 38% Average Days (days) Sales % Active Listings % Median Price ** $318,250 2% 38% Average Price ** $328,396-3% 38% Average Days (days) Evolution of Conditions Table 3 - Conditions by Price Range Buyer s market Less than S 200 to S 300 to S 400 to BA 500 and more B 8

10 Area 2 : Saint-Laurent/Ahuntsic Sales % New Listings 858 1% Active Listings 1,107 17% Volume (in thousand $) 104,983-25% Sales 1,473-17% New Listings 2,855 2% Active Listings 969 6% Volume (in thousand $) 466,257-12% Sales % % Active Listings % % Median Price $354,000 11% $348,250 9% 45% Average Price $389,819 12% $381,101 8% 42% Average Days (days) Sales % % Active Listings 498 0% 462-9% Median Price $215,000 10% $215,000 5% 27% Average Price $221,877 4% $228,386 6% 28% Average Days (days) Sales 79-17% 357-6% Active Listings % % Median Price $388,900 0% $390,000 1% 38% Average Price $389,424-3% $398,742 0% 38% Average Days (days) Evolution of Conditions Table 3 - Conditions by Price Range Less than BA 200 to S 250 to BA 300 and more BA 9

11 Area 3 : South-West of Island Sales % New Listings 1,038-7% Active Listings 1,283 11% Volume (in thousand $) 115,415-18% Sales 1,864-13% New Listings 3,535-1% Active Listings 1,144 11% Volume (in thousand $) 492,907-10% Sales 91-7% % Active Listings % % Median Price $265,000 0% $279,000 7% 48% Average Price $280,390 5% $288,045 7% 45% Average Days (days) Sales % 903-7% Active Listings % 519 7% Median Price $208,000 9% $209,000 7% 37% Average Price $224,189 6% $222,554 4% 36% Average Days (days) Sales % % Active Listings 483 5% % Median Price $302,250-4% $317,000 6% 55% Average Price $303,125-4% $313,212 4% 49% Average Days (days) Evolution of Conditions 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 601-6% Active Listings % Volume (in thousand $) 77,898-29% Sales 1,031-12% New Listings 2,134 5% Active Listings % Volume (in thousand $) 378,641-10% Sales 61-23% % Active Listings % % Median Price $417,000-2% $410,000 1% 24% Average Price $440,615-10% $466,812 3% 28% Average Days (days) Sales % 532-8% Active Listings % % Median Price $258,000-2% $250,000-5% 8% Average Price $286,911 0% $280,006-1% 9% Average Days (days) Sales 43-23% % Active Listings 129 5% 128 2% Median Price $440,000 11% $435,000 13% 38% Average Price $440,000 0% $449,401 9% 34% Average Days (days) Evolution of Conditions Table 3 - Conditions by Price Range Less than BA 200 to S 300 to BA 400 and more B 11

13 Area 5 : Centre Sales % New Listings 623-3% Active Listings % Volume (in thousand $) 111,460-35% Sales % New Listings 2,142 1% Active Listings % Volume (in thousand $) 580,428-18% Sales 81-30% % Active Listings % % Median Price $800,000 3% $759,500 2% 30% Average Price $809,315-7% $860,412 0% 30% Average Days (days) Sales % % Active Listings 466 9% 437 8% Median Price $335,000 5% $335,000 6% 26% Average Price $377,702 1% $377,386 4% 28% Average Days (days) Sales % Active Listings % Median Price ** $628,000 7% 35% Average Price ** $625,135 0% 33% Average Days (days) Evolution of Conditions Table 3 - Conditions by Price Range Buyer s market Less than B 200 to S 300 to BA 400 to B 500 and more B 12

14 Area 6 : Ville-Marie Sales % New Listings 793 8% Active Listings 1,001 15% Volume (in thousand $) 75,573-10% Sales 1,086-10% New Listings 2,596 3% Active Listings 890 2% Volume (in thousand $) 350,930-13% Sales % Active Listings % Median Price ** $499,000-3% 33% Average Price ** $623,038-8% 20% Average Days (days) Sales % % Active Listings % 755 1% Median Price $262,000 7% $260,000 3% 17% Average Price $309,717 4% $311,347-1% 14% Average Days (days) Sales % Active Listings % Median Price ** $275,000-8% 46% Average Price ** $318,173-1% 44% Average Days (days) Evolution of Conditions 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 13

15 Area 7 : Le Plateau Sales % New Listings 545 2% Active Listings % Volume (in thousand $) 68,298-5% Sales % New Listings 1,862 12% Active Listings % Volume (in thousand $) 293,603-5% Sales % Active Listings % Median Price ** $474,000 8% 52% Average Price ** $512,313 15% 52% Average Days (days) Sales % 732-9% Active Listings % % Median Price $249,000-2% $255,000 4% 36% Average Price $259,473 0% $265,061 4% 36% Average Days (days) Sales 36 16% 152-1% Active Listings % % Median Price $485,000 14% $436,250 0% 45% Average Price $510,575 9% $466,377 2% 48% Average Days (days) Evolution of Conditions 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 802-8% Active Listings 884 0% Volume (in thousand $) 118,435-13% Sales 1,668-10% New Listings 2,793-2% Active Listings 802 2% Volume (in thousand $) 490,689-6% Sales 58 5% % Active Listings 81-1% 76 10% Median Price $232,500-1% $235,750-6% 42% Average Price $234,679-6% $251,755-3% 38% Average Days (days) Sales % % Active Listings % % Median Price $217,798 12% $210,000 5% 25% Average Price $229,722 9% $225,332 6% 29% Average Days (days) Sales % 820-9% Active Listings % % Median Price $359,500 4% $350,000 5% 50% Average Price $362,495 1% $359,484 4% 50% Average Days (days) Evolution of Conditions 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 % Active Listings 780 9% Volume (in thousand $) 64,731-21% Sales 1,113-6% New Listings 2,052 0% Active Listings % Volume (in thousand $) 277,061-3% Sales 47-10% 193-4% Active Listings 84 3% 73-1% Median Price $278,000 17% $250,000 11% 53% Average Price $267,844 6% $252,621 8% 52% Average Days (days) Sales % 507 1% Active Listings 400 5% 369 6% Median Price $180,206 0% $180,000 4% 29% Average Price $183,984 1% $182,276 3% 32% Average Days (days) Sales 97-20% % Active Listings % % Median Price $310,000-2% $325,000 5% 55% Average Price $311,838-2% $329,033 4% 50% Average Days (days) Evolution of Conditions 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 312-9% Active Listings 419 5% Volume (in thousand $) 38,900-12% Sales 559-3% New Listings 1,083 3% Active Listings % Volume (in thousand $) 176,323-2% Sales 39 5% 159-1% Active Listings 93-3% 85 5% Median Price $315,000 11% $305,000 5% 42% Average Price $330,370 10% $317,493 2% 38% Average Days (days) Sales 57-15% 219-2% Active Listings 173 7% % Median Price $180,000-3% $195,000 5% 35% Average Price $200,777 1% $204,534 2% 38% Average Days (days) Sales 31-24% 181-7% Active Listings % % Median Price $450,000-3% $432,500 3% 39% Average Price $470,032-2% $447,782 2% 37% Average Days (days) Evolution of Conditions 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 % Active Listings 1,242 5% Volume (in thousand $) 81,208-21% Sales 1,489-11% New Listings 3,030 0% Active Listings 1,130 14% Volume (in thousand $) 338,395-9% Sales % % Active Listings % % Median Price $225,000 3% $227,000 4% 46% Average Price $236,322 3% $238,993 4% 46% Average Days (days) Sales % 479-7% Active Listings % 344 4% Median Price $156,500 4% $156,000 3% 36% Average Price $157,610 3% $159,846 2% 38% Average Days (days) Sales 52-26% % Active Listings 283 7% % Median Price $315,000-2% $320,000 2% 44% Average Price $309,660-3% $317,979 0% 42% Average Days (days) Evolution of Conditions Buyer s market Table 3 - Conditions by Price Range 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 1,046-21% New Listings 2,514-5% Active Listings 3,244 18% Volume (in thousand $) 246,200-20% Sales 4,294-10% New Listings 8,518 5% Active Listings 2,778 16% Volume (in thousand $) 1,037,921-7% Sales % 3,207-9% Active Listings 2,183 20% 1,864 19% Median Price $231,386 3% $232,000 5% 49% Average Price $244,776 2% $250,538 4% 50% Average Days (days) Sales % 834-9% Active Listings % 670 8% Median Price $166,000 1% $169,000 3% 36% Average Price $180,744 2% $180,829 2% 37% Average Days (days) Sales 39-46% % Active Listings 269 5% % Median Price $365,000 17% $333,500 3% 46% Average Price $346,115 11% $332,853 3% 47% Average Days (days) Evolution of Conditions 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 1,495-3% Active Listings 1,914 18% Volume (in thousand $) 143,566-20% Sales 2,544-12% New Listings 5,030 3% Active Listings 1,624 12% Volume (in thousand $) 616,230-9% Sales % 1,903-12% Active Listings 1,264 20% 1,071 15% Median Price $230,000 2% $232,500 5% 48% Average Price $245,027 1% $252,995 4% 52% Average Days (days) Sales % % Active Listings % 447 5% Median Price $170,000 2% $172,500 5% 38% Average Price $181,347 0% $185,801 2% 38% Average Days (days) Sales % Active Listings % Median Price ** $331,000 9% 43% Average Price ** $335,359 6% 40% Average Days (days) Evolution of Conditions Table 3 - Conditions by Price Range Buyer s market Less than S 200 to S 300 to B 400 and more B 20

22 Area 13 : East of Laval Sales % New Listings 1,019-7% Active Listings 1,329 19% Volume (in thousand $) 102,634-19% Sales 1,750-6% New Listings 3,488 8% Active Listings 1,154 22% Volume (in thousand $) 421,691-3% Sales % 1,304-4% Active Listings % % Median Price $233,500 3% $230,000 3% 48% Average Price $244,422 2% $246,959 5% 47% Average Days (days) Sales 71-39% 302-7% Active Listings % % Median Price $165,000 1% $165,000 3% 38% Average Price $179,582 6% $172,043 2% 36% Average Days (days) Sales % Active Listings % Median Price ** $336,500 2% 50% Average Price ** $330,974 1% 52% Average Days (days) Evolution of Conditions 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 2,072-25% New Listings 5,064-4% Active Listings 6,755 18% Volume (in thousand $) 431,698-24% Sales 8,263-14% New Listings 16,765 6% Active Listings 5,893 19% Volume (in thousand $) 1,744,178-12% Sales 1,731-26% 6,786-17% Active Listings 5,450 19% 4,688 19% Median Price $199,000 3% $198,000 4% 47% Average Price $213,682 1% $216,609 3% 45% Average Days (days) Sales % 1,081 2% Active Listings % % Median Price $145,000 4% $145,000 4% 38% Average Price $153,044 4% $151,451 2% 35% Average Days (days) Sales 74-16% 369-3% Active Listings % % Median Price $299,500 8% $275,000 3% 56% Average Price $281,443 4% $274,430 3% 54% Average Days (days) Evolution of Conditions Table 3 - Conditions by Price Range 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 1,014 0% Active Listings 1,196 19% Volume (in thousand $) 86,858-26% Sales 1,721-14% New Listings 3,205 4% Active Listings 1,016 14% Volume (in thousand $) 345,690-10% Sales % 1,469-16% Active Listings 1,000 20% % Median Price $195,000 3% $192,200 4% 48% Average Price $201,080 2% $202,935 5% 50% Average Days (days) Sales 43-16% 186 3% Active Listings 118 5% % Median Price $148,000 2% $150,000 6% 34% Average Price $154,681 5% $154,289 4% 33% Average Days (days) Sales D 0% Active Listings % Median Price ** $283,500-1% 78% Average Price ** $261,939-1% 53% Average Days (days) Evolution of Conditions Table 3 - Conditions by Price Range 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 893-4% Active Listings 1,232 18% Volume (in thousand $) 90,761-31% Sales 1,560-14% New Listings 3,132 7% Active Listings 1,085 21% Volume (in thousand $) 414,463-13% Sales % 1,253-19% Active Listings % % Median Price $240,000 D 0% $244,950 1% 40% Average Price $268,537 1% $277,254 1% 37% Average Days (days) Sales 53-13% % Active Listings % % Median Price $176,000 13% $169,000 6% 46% Average Price $186,074 7% $179,821 3% 44% Average Days (days) Sales % Active Listings % Median Price ** $305,000 7% 53% Average Price ** $304,451 8% 51% Average Days (days) Evolution of Conditions Table 3 - Conditions by Price Range Buyer s market Less than S 200 to S 300 to BA 400 to B 500 and more B 24

26 Area 16 : Terrebonne/Mascouche Sales % New Listings 1,401-6% Active Listings 1,855 16% Volume (in thousand $) 119,357-23% Sales 2,262-16% New Listings 4,457 3% Active Listings 1,587 18% Volume (in thousand $) 465,042-12% Sales % 1,929-18% Active Listings 1,558 21% 1,318 21% Median Price $196,000 4% $195,000 5% 51% Average Price $211,724 4% $209,603 5% 54% Average Days (days) Sales 63-21% % Active Listings 229-4% 204 8% Median Price $145,500 2% $144,700 0% 34% Average Price $148,934 1% $149,002 2% 31% Average Days (days) Sales % Active Listings % Median Price ** $280,000 D 0% 53% Average Price ** $297,544 3% 60% Average Days (days) Evolution of Conditions 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 1,050-6% Active Listings 1,491 24% Volume (in thousand $) 88,143-19% Sales 1,665-18% New Listings 3,489 8% Active Listings 1,292 22% Volume (in thousand $) 324,259-15% Sales % 1,339-17% Active Listings 1,145 20% 1,013 24% Median Price $194,000 5% $192,000 5% 46% Average Price $203,249 3% $203,155 4% 45% Average Days (days) Sales 77-16% % Active Listings % % Median Price $138,000 4% $137,500 4% 38% Average Price $141,774 3% $142,542 2% 33% Average Days (days) Sales % Active Listings % Median Price ** $329,500 7% 74% Average Price ** $305,612 5% 64% Average Days (days) Evolution of Conditions Buyer s market 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 % New Listings 706-5% Active Listings % Volume (in thousand $) 46,578-14% Sales 1,055-5% New Listings 2,482 12% Active Listings % Volume (in thousand $) 194,724-5% Sales % 796-9% Active Listings % % Median Price $175,900 1% $175,000 3% 45% Average Price $185,325 0% $185,982 2% 50% Average Days (days) Sales % Active Listings % Median Price ** $128,000 3% 33% Average Price ** $129,733-3% 28% Average Days (days) Sales % Active Listings % Median Price ** $234,250 2% 66% Average Price ** $233,704-1% 54% Average Days (days) Evolution of Conditions Buyer s market Table 3 - Conditions by Price Range Less than S 200 to B 250 to B 300 and more B 27

29 Area 19 : Vaudreuil-Soulanges Sales % New Listings 1,146 0% Active Listings 1,509 17% Volume (in thousand $) 93,681-29% Sales 1,713-16% New Listings 3,675 4% Active Listings 1,296 11% Volume (in thousand $) 403,263-15% Sales % 1,490-18% Active Listings 1,332 16% 1,159 10% Median Price $217,500 4% $217,000 2% 38% Average Price $241,205 2% $245,314 2% 35% Average Days (days) Sales 41-21% 183 1% Active Listings % % Median Price $155,000 8% $153,000 7% 23% Average Price $155,801 8% $156,690 7% 9% Average Days (days) Sales % Active Listings % Median Price ** $225,000-2% 50% Average Price ** $220,484-7% 38% Average Days (days) Evolution of Conditions Table 3 - Conditions by Price Range Less than S 200 to BA 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 2,189-26% New Listings 4,916-5% Active Listings 5,851 18% Volume (in thousand $) 508,839-23% Sales 8,686-12% New Listings 16,139 3% Active Listings 4,880 10% Volume (in thousand $) 2,040,922-8% Sales 1,608-25% 6,278-13% Active Listings 3,972 18% 3,304 14% Median Price $224,000 4% $224,000 5% 51% Average Price $247,527 5% $249,227 5% 50% Average Days (days) Sales % 1,952-9% Active Listings 1,486 24% 1,202 3% Median Price $162,000 4% $166,000 5% 36% Average Price $173,058 4% $178,797 5% 39% Average Days (days) Sales 96-36% % Active Listings 380 0% 360 7% Median Price $289,750 6% $281,000 2% 52% Average Price $290,963 3% $283,457 2% 47% Average Days (days) Evolution of Conditions 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 % New Listings 477-3% Active Listings % Volume (in thousand $) 38,304-11% Sales 819 1% New Listings 1,656 17% Active Listings % Volume (in thousand $) 153,143 4% Sales % 698-5% Active Listings % % Median Price $185,000 4% $181,000 3% 45% Average Price $192,172 3% $191,764 4% 50% Average Days (days) Sales % Active Listings % Median Price ** $143,900 0% 14% Average Price ** $143,366 3% 8% Average Days (days) Sales % Active Listings % Median Price ** $182,500 5% 52% Average Price ** $192,311 3% 59% Average Days (days) Evolution of Conditions Buyer s market Table 3 - Conditions by Price Range Less than S 200 to B 250 to B 300 and more B 30

32 Area 21 : South West of the South Shore Sales % New Listings 415-1% Active Listings % Volume (in thousand $) 43,965-18% Sales % New Listings 1,285-2% Active Listings 371-2% Volume (in thousand $) 153,884-13% Sales % % Active Listings % 317 3% Median Price $213,000 6% $207,000 6% 51% Average Price $220,530 8% $213,610 6% 52% Average Days (days) Sales % Active Listings % Median Price ** $138,000-2% 40% Average Price ** $140,706 0% 34% Average Days (days) Sales 6 24 Active Listings Median Price ** ** Average Price ** ** Average Days (days) Evolution of Conditions 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 1,064-6% Active Listings 1,363 16% Volume (in thousand $) 111,759-30% Sales 1,904-11% New Listings 3,595 0% Active Listings 1,127 0% Volume (in thousand $) 503,079-8% Sales % 1,161-14% Active Listings % 615 1% Median Price $256,000 2% $265,000 4% 51% Average Price $303,758 5% $306,836 6% 50% Average Days (days) Sales % 700-4% Active Listings % 472-1% Median Price $171,000 4% $175,000 5% 33% Average Price $183,985 4% $189,921 4% 31% Average Days (days) Sales % Active Listings % Median Price ** $315,000-2% 35% Average Price ** $323,207 1% 33% Average Days (days) Evolution of Conditions Table 3 - Conditions by Price Range Less than S 200 to S 300 to BA 400 to BA 500 and more B 32

34 Area 23 : Longueuil Sales % New Listings 1,187-6% Active Listings 1,351 19% Volume (in thousand $) 116,925-32% Sales 2,132-19% New Listings 4,018 0% Active Listings 1,127 7% Volume (in thousand $) 465,849-15% Sales % 1,293-19% Active Listings % % Median Price $212,000 3% $212,000 4% 51% Average Price $223,905 3% $224,186 4% 50% Average Days (days) Sales % % Active Listings % 355 3% Median Price $161,000 5% $165,000 8% 41% Average Price $171,571 7% $174,265 7% 48% Average Days (days) Sales 52-49% % Active Listings 235 4% 216 4% Median Price $297,500 8% $290,000 5% 53% Average Price $295,096 3% $291,664 4% 48% Average Days (days) Evolution of Conditions Buyer s market Table 3 - Conditions by Price Range Less than S 200 to S 250 to S 300 and more B 33

35 Area 24 : Boucherville/Saint-Bruno Sales % New Listings 426-1% Active Listings % Volume (in thousand $) 56,654-7% Sales 801-8% New Listings 1,305 4% Active Listings % Volume (in thousand $) 231,613-3% Sales % 618-9% Active Listings % % Median Price $260,000 2% $270,000 6% 42% Average Price $304,360 7% $310,047 6% 43% Average Days (days) Sales 40-20% 172-9% Active Listings 88 10% 70 7% Median Price $184,750-1% $210,000 9% 43% Average Price $199,135-1% $211,914 5% 43% Average Days (days) Sales 1 11 Active Listings 5 6 Median Price ** ** Average Price ** ** Average Days (days) Evolution of Conditions 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 429-9% Active Listings % Volume (in thousand $) 49,978-20% Sales 838-8% New Listings 1,390 4% Active Listings % Volume (in thousand $) 193,453-3% Sales % 702-9% Active Listings % % Median Price $224,900 5% $225,000 5% 46% Average Price $236,977 4% $240,679 5% 44% Average Days (days) Sales D 0% Active Listings % Median Price ** $165,800 12% 34% Average Price ** $168,287 8% 32% Average Days (days) Sales 1 14 Active Listings 9 11 Median Price ** ** Average Price ** ** Average Days (days) Evolution of Conditions 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 573-6% Active Listings % Volume (in thousand $) 55,314-20% Sales % New Listings 1,788 0% Active Listings % Volume (in thousand $) 217,432-8% Sales % % Active Listings % % Median Price $230,000 6% $227,500 4% 52% Average Price $253,347 8% $250,573 6% 53% Average Days (days) Sales 31-40% % Active Listings % 105-5% Median Price $157,091-4% $162,750 1% 42% Average Price $170,228 1% $170,458 4% 47% Average Days (days) Sales 8 27 Active Listings Median Price ** ** Average Price ** ** Average Days (days) Evolution of Conditions 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 % New Listings 345-3% Active Listings % Volume (in thousand $) 35,940-9% Sales % New Listings 1,102 5% Active Listings % Volume (in thousand $) 122,470-9% Sales 134-4% % Active Listings % % Median Price $225,000 D 0% $222,000 8% 59% Average Price $237,772-2% $237,834 2% 55% Average Days (days) Sales % Active Listings % Median Price ** $138,000 D 0% 55% Average Price ** $150,792 7% 52% Average Days (days) Sales 6 22 Active Listings Median Price ** ** Average Price ** ** Average Days (days) Evolution of Conditions Table 3 - Conditions by Price Range Less than S 200 to S 250 to BA 300 and more B 37

39 Previous View 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 ($), with a date corresponding to the targeted period. Average Selling Time Average number of days between the sale date and the date the brokerage contract is signed, for a given listing. Rate of Change Due to the seasonal nature of real estate indicators, quarterly s of change are calculated in relation to the same quarter of the previous year. Average Sale Price Average value of sales, in dollars ($), 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. 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 Caution 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. 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. 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