FOURTH QUARTER 2020 8 Per Cent Increase Compared to 2019
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Highlights residential real estate market Sales ■ In total, 55,609 residential sales transactions were concluded in 2020 in the Montreal CMA, an FOURTH QUARTER 2020 8 per cent increase compared to 2019. This was the sixth consecutive annual increase of more than 5 per cent, bringing the average annualized increase to 7 per cent since 2015. ■ All three main property categories registered an increase in sales in 2020: +10 per cent for single- family homes, and +7 per cent for condominiums and plexes (2 to 5 dwellings). ■ Sales on the Island of Montreal remained virtually unchanged compared to 2019 (+1 per cent). ■ The main areas on the periphery of the Island of Montreal posted significant increases in sales, ranging from +8 per cent on the South Shore to +20 per cent on the North Shore. ■ Sales of properties at more than $1 million jumped by 62 per cent compared to 2019. Median price ■ The median price of single-family homes ($400,000) jumped by 18 per cent compared to 2019, Montreal Metropolitan Area the largest increase since Centris began compiling statistics in the year 2000. ■ The median price of condominiums stood at $305,000 (+14 per cent), while that of plexes reached $615,000 (+12 per cent). The last time these two property categories registered greater Sales Listings Price price increases was back in 2003 and 2004, respectively. - Single-Family Condominium 33% 16% Active listings and market conditions Change in total Change in residential 22% 12% residential active listings compared Change in median price ■ The number of properties for sale decreased for a fifth consecutive year, with 13,590 listings on sales compared to the to the compared to the 4th quarter of 2019 4th quarter of 2019 4th quarter of 2019 the real estate brokers’ Centris system (-26 per cent). ■ Across the CMA, market conditions gave sellers a very clear advantage over buyers, and this applied to all three property categories (single-family homes, condominiums and plexes). Selling times ■ It took 52 days on average to sell a residential property in the Montreal CMA in 2020, which is 19 days less than in 2019. This represents the shortest selling time among the province’s six CMAs and the shortest selling time on record. All variations are calculated in relation to the same period of the previous year. MONTREAL METROPOLITAN AREA QPAREB BAROMETER - 4TH QUARTER 2020 - ECONOMIC INDICATORS Sociodemographic Profile Mortgage Rates Labour Market 1-year term Variation Employment (in thousands) Variation Population in 2016 Q4 2020 3.09% -0.55 Q4 2020 2,198.8 -8.4 4,098,927 Q4 2019 3.64% Q4 2019 2,207.2 Variation change between 2011 and 2016 5-year term Variation Unemployment rate Variation 4.2% Q4 2020 4.79% -0.40 Q4 2020 8.1% 2.1 Q4 2019 5.19% Q4 2019 6.0% Population density per square kilometer 890.2 Consumer Confidence Level Housing Starts Number of households in 2016 Total Variation 1,823,281 Overall Variation Q4 2020 7,981 33% Q4 2019 5,997 Q4 2020 102 Proportion of renters -62 164 Q4 2019 Single-Family Variation Vacancy rate Q4 2020 1,294 1% Is right now a good time to Q4 2019 1,284 44.3% 2019 1.5 % 7,981 make a major purchase?* Variation Average rent Variation Q4 2020 29% Condominium Variation -14 Q4 2020 1,460 2019 $855 Q4 2019 43% -29% 55.7% 6% Q4 2019 2,060 2018 $809 Rental Variation Proportion of owners Q4 2020 5,317 100% Q4 2019 2,653 Sources: Statistics Canada, 2016 census, Sources: Statistics Canada and Conference Board of Canada Sources: Statistics Canada and CMHC CMHC - Rental Maket Survey, January 2020 *Proportion of people who responded “yes” to this question. ++Variation greater than 100% MONTREAL METROPOLITAN AREA QPAREB BAROMETER - 4TH QUARTER 2020 TOTAL RESIDENTIAL SALES 5,660 24% Island of Montreal 297 74% Area 14: Villeray 1,590 35% Laval 277 65% Area 23: Fabreville 3,687 49% North Shore of Montréal 296 64% Area 26: Mirabel 3,567 33% South Shore of Montréal 263 63% Area 27: Boisbriand/Sainte-Thérèse 751 41% Vaudreuil-Soulanges 402 26% 291 60% Area 30: Mascouche Saint-Jean-sur-Richelieu North Shore 159 -12% Area 7: NDG/Montréal Ouest Laval 403 -15% Area 11: Ville-Marie Montreal South Shore Vaudreuil-Soulanges Saint-Jean-sur- Richeliu Definitions of the metropolitan areas are from Statistics Canada’s 2016 census. All variations are calculated in relation to the same quarter of the previous year. | 3 MONTREAL METROPOLITAN AREA QPAREB BAROMETER - 4TH QUARTER 2020 MEDIAN PRICE OF SINGLE-FAMILY HOMES Island of Montreal $630,000 19% $386,000 43% Area 49: Saint-Athanase/Iberville Area 8: CDN/CSL $823,500 -1% Laval $435,000 20% $610,000 39% Area 41: Candiac/La Prairie Area 13: Rosemont $741,000 -1% North Shore of Montreal $366,450 27% South Shore of Montreal $436,500 23% $430,000 37% Area 51: Saint-Luc/L’Acadie Vaudreuil-Soulanges $430,250 25% $325,000 32% Area 32: East of the North Shore Saint-Jean-sur-Richelieu $379,750 36% $550,000 31% Area 28: Blainville MEDIAN PRICE OF CONDOMINIUMS Island of Montreal $395,000 10% $315,000 47% Area 27: Boisbriand/Sainte-Thérèse Laval $295,000 17% $241,680 38% Area 39: Châteauguay North Shore of Montreal $230,000 16% South Shore of Montreal $270,000 17% $281,000 36% Area 21: Sainte-Rose/Auteuil/Vimont Vaudreuil-Soulanges $260,000 21% $280,000 29% Area 36: Vaudreuil-Dorion Saint-Jean-sur-Richelieu $220,000 11% $384,335 28% Area 1: West Island South | 4 List of Areas Area 1: West Island South Area 25: West of the North Shore Area 2: West Island North Area 26: Mirabel Area 3: Lachine/LaSalle Area 27: Boisbriand/Sainte-Thérèse Area 4: South West Area 28: Blainville Area 5: Saint-Laurent Area 29: Terrebonne Area 6: Ahuntsic-Cartierville Area 30: Mascouche Area 7: NDG/Montreal-Ouest Area 31: Repentigny Area 8: CDN/CSL Area 32: East of the North Shore Area 9: Centre North Shore of Area 33: Saint-Jérôme Area 10: Nuns’ Island Montreal Area 34: Saint-Lin-Laurentides Area 11: Ville-Marie Area 12: Le-Plateau Mont-Royal Laval Area 35: L’Île-Perrot Area 13: Rosemont Area 36: Vaudreuil-Dorion South Shore Area 14: Villeray Area 37: Soulanges Sud Area 15: Mercier/Hochelaga-Maisonneuve of Montreal Area 38: Saint-Lazare/Hudson Montreal Area 16: Anjou/Saint-Léonard Area 17: Montreal-Nord Area 39: Châteauguay Area 18: Eastern Tip of the Island Vaudreuil Soulanges Area 40: South-West of the South Shore Saint-Jean- Area 41: Candiac/La Prairie sur-Richelieu Area 42: Brossard/Saint-Lambert Area 19: Downtown Laval Area 43: Vieux-Longueuil Area 20: Sainte-Dorothée Area 44: Saint-Hubert Area 21: Sainte-Rose/Auteuil/Vimont Area 45: Boucherville/Saint-Bruno Area 22: Duvernay Area 46: Sainte-Julie/Varennes Area 23: Fabreville Area 47: Beloeil/Mont-Saint-Hilaire Area 24: Saint-François/Saint-Vincent Area 48: Chambly Area 49: Saint-Athanase/Iberville Area 50: Saint-Jean-sur-Richelieu Area 51: Saint-Luc/L’Acadie | 5 QPAREB Barometer - Fourth Quarter 2020 Definitions and Explanatory Notes Definition of Areas ISLAND OF MONTREAL LAVAL VAUDREUIL-SOULANGES Area 1: West Island South Area 19: Downtown Laval Area 35: L’Île-Perrot Baie-d'Urfé, Beaconsfield, Dorval, L'Île-Dorval, Pointe-Claire, Chomedey, Laval-des-Rapides,Pont-Viau L’Île-Perrot, Notre-Dame-de-l’Île-Perrot, Pincourt, Terrasse-Vaudreuil Sainte-Anne-de-Bellevue, Senneville Area 20: Sainte-Dorothée Area 36: Vaudreuil-Dorion Area 2: West Island North Sainte-Dorothée, Laval-sur-le-Lac L'Île-Cadieux, Vaudreuil-Dorion (sans Vaudreuil-Ouest), Vaudreuil-sur-le-Lac Kirkland, L'Île-Bizard/Sainte-Geneviève, Pierrefonds-Roxboro, Dollard-des-Ormeaux Area 21: Sainte-Rose/Auteuil/Vimont Area 37: Soulanges Sud Auteuil, Vimont, Sainte-Rose Côteau-du-Lac, Saint-Zotique, Les Cèdres, Les Coteaux, Pointe-des- Area 3: Lachine/LaSalle Cascades Lachine (Montreal), LaSalle (Montreal) Area 22: Duvernay Duvernay Area 38: Saint-Lazare/Hudson Area 4: Le Sud-Ouest Vaudreuil-Ouest, Saint-Lazare, Hudson Le Sud-Ouest (Montreal), Verdun (Montreal) Area 23: Fabreville Laval-Ouest, Fabreville SOUTH SHORE OF MONTREAL Area 5: Saint-Laurent Area 39: Châteauguay Saint-Laurent (Montreal) Area 24: Saint-François/Saint-Vincent Beauharnois, Châteauguay, Léry, Mercier, Saint-Isidore, Kahnawake Saint-François, Saint-Vincent-de-Paul Area 6: Ahuntsic-Cartierville NORTH SHORE OF MONTREAL Area 40: South West of the South Shore Ahuntsic-Cartierville (Montreal) Delson, Saint-Constant, Sainte-Catherine, Saint-Mathieu, Saint-Philippe Area 25: West of the North Shore Area 7: NDG/Montreal-Ouest Deux-Montagnes, Oka, Pointe-Calumet, Sainte-Marthe-sur-le-Lac, Saint- Area 41: Candiac/La Prairie Notre-Dame-de-Grâce (Montreal), Montreal-Ouest Eustache, Saint-Joseph-du-Lac, Saint-Placide Candiac, La Prairie Area 8: CDN/CSL Area 26: Mirabel Area 42: Brossard/Saint-Lambert Côte-des-Neiges, Côte-Saint-Luc Mirabel Brossard, Saint-Lambert Area 9: Centre Area 27: Boisbriand/Sainte-Thérèse Area 43: Vieux-Longueuil Hampstead, Mont-Royal, Outremont (Montreal), Westmount Boisbriand, Sainte-Thérèse Greenfield Park, Le Vieux-Longueuil Area 10: Nuns’ Island Area 28: Blainville Area 44: Saint-Hubert L’Île-des-Sœurs (Montreal) Blainville, Lorraine, Rosemère Saint-Hubert Area 11: Ville-Marie Area 29: Terrebonne Area 45: Boucherville/Saint-Bruno Ville-Marie (Montreal) Bois-des-Filion, Terrebonne, Lachenaie, Sainte-Anne-des-Plaines, La Plaine Boucherville, Saint-Bruno-de-Montarville Area 12: Le-Plateau-Mont-Royal Area 30: Mascouche Area 46: Sainte-Julie/Varennes Le Plateau-Mont-Royal (Montreal) Mascouche Saint-Amable, Sainte-Julie, Varennes, Verchères Area 13: Rosemont Area 31: Repentigny Area 47: Beloeil/Mont-Saint-Hillare Rosemont/La Petite-Patrie (Montreal)