Barometer
QFREB Residential Market
Montréal Metropolitan Area
Highlights
Residential Sales Start to Increase Again in Third Quarter of 2013
Northern Suburbs Going Against the Current
Significant Increase in Supply of Properties
Prices Stabilize for Condominiums and Plexes
® Analysis Residential Sales Start to Increase Again in Third Quarter of 2013 After four consecutive and relatively large quarterly decreases in in supply was observed in all five main areas of the CMA, at a sales following the entry into force of more restrictive mortgage similar pace or even a more sustained pace than the previous rules1, the number of residential transactions in the Montréal quarter. Census Metropolitan Area (CMA) finally began to rebound in the third quarter of 2013. According to the real estate brokers’ This increase in supply was observed in all five main provincial database, there were 7,320 residential sales transactions concluded through the Centris® system in the Montréal CMA in the areas of the CMA, at a similar pace or even a more third quarter of the year, a 2 per cent increase compared to the sustained pace than the previous quarter. third quarter of last year. However, this increase was not enough to offset the 8 per cent decrease in sales that occurred in the third Laval registered the largest increase in the number of active listings, quarter of 2012. up 22 per cent compared to the third quarter of 2012. The North Shore once again registered the smallest increase, at 11 per cent. However, this increase in sales was not enough Finally, the Island of Montréal was the only main area of the CMA to offset the 8 per cent decrease in sales that occurred that saw its number of active listings increase at a slower pace than in the third quarter of 2012. in the previous quarter, even though the increase was still quite significant (+16 per cent).
The solid performance of the Montréal area’s employment market In the third quarter of 2013, for the twelfth consecutive quarter, in the last year (42,300 jobs created) has undoubtedly contributed the supply of condominiums registered the largest increase. to the rebound of the real estate market in the CMA. It should be On average, close to 11,700 condominiums were for sale from July noted, however, that this increase in sales in the third quarter of to September 2013, a 21 per cent increase compared to the same 2013 was smaller than in other large urban centres in Canada2. period in 2012.
Northern Suburbs Going Against the Current Prices Stabilize for Condominiums and Plexes
Geographically, most areas of the CMA registered an increase Market conditions for single-family homes relaxed in the third in residential sales in the third quarter of the year. The South quarter of 2013, but remained balanced. The plex market also Shore posted the largest increase in sales, growing by 9 per cent remained balanced, while the condominium market favoured compared to the third quarter of 2012, followed by Vaudreuil- buyers throughout the Montréal CMA. Soulanges (+6 per cent) and the Island of Montréal (+4 per cent). In contrast, the northern suburbs, meaning the North Shore and These current market conditions have resulted in Laval, registered respective decreases of 2 and 8 per cent. This relatively stable prices. was the fourth consecutive drop in sales on the North Shore, and the fifth consecutive drop in Laval. It should be noted, however, that in both of these areas, the decrease in sales registered in the These current market conditions have resulted in relatively stable third quarter of 2013 was much smaller than those registered in prices. For the entire Montréal area, the median price of single- previous quarters. family homes increased by 2 per cent in the third quarter of 2013, to reach $282,500. The median price of condominiums remained The South Shore posted the largest increase in sales, stable for a third consecutive quarter at $229,658. Finally, after growing by 9 per cent compared to the third quarter registering the largest increase in the two previous quarters, the of 2012. median price of plexes also remained stable at the same level as the third quarter of 2012 ($425,000).
Three North Shore areas did manage to post an increase in sales in In the five main areas of the CMA, the largest increase inthe the third quarter of the year: Blainville (200 sales) and Mascouche median price of single-family homes was in Vaudreuil-Soulanges (108 sales) both registered a 3 per cent increase, and Repentigny (+3 per cent), followed by the South Shore and North Shore (207 sales) registered a 4 per cent increase. Again, these increases (+2 per cent each), and Laval (+1 per cent). Only the Island were not enough to offset the decreases that occurred in the third of Montréal registered a slight decrease in the median price of quarter of 2012. On the Island of Montréal, the Ville-Marie area single-family homes, falling by 2 per cent in the third quarter of the turned in a solid performance as sales rose by 28 per cent (295 year, the first quarterly decrease since at least the early 2000s. transactions), while on the South Shore, the Boucherville/Saint- However, the vast majority of areas that make up the Island Bruno area (155 transactions) registered a 42 per cent increase in of Montréal registered an increase in the median price of single- sales, the highest third quarter sales level since 2009. family homes. These include Saint-Laurent (+18 per cent), Anjou/ Significant Increase in Supply of Properties Saint-Léonard (+13 per cent) and Côte-des-Neiges/Notre-Dame- de-Grâce/Côte-Saint-Luc (+7 per cent), which registered some of The number of residential properties for sale in the Montréal CMA the largest increases. continued to climb for a twelfth consecutive quarter, rising by 15 per cent compared to the third quarter of last year. This increase The Island of Montréal also experienced a decrease in the median price of condominiums (-3 per cent). In contrast, the largest 1 This change in mortgage rules took place in the summer of 2012 and limits the maximum increase in this area was in Laval (+4 per cent). amortization period for new insured mortgages to 25 years, rather than 30 years, making it more difficult for first-time buyers to qualify. 2 In comparison, sales in the areas of Toronto, Calgary and Vancouver increased by 22, 23 and 40 per cent, respectively, in the third quarter of 2013.
1 Third Quarter
Economic Indicators
(1) Variation from previous quarter Note : Green arrows indicate good news and red arrows indicate bad news. (2) Variation from the same quarter one year ago The arrows indicate stability. (3) Mortgage rate offered by Canada’s main banks (4) Measure used by the Bank of Canada to guide its decisions (5) Proportion of people who responded “yes” to this question (6) Seasonally adjusted (7) The total also includes co-operative housing Sources: Statistics Canada, Conference Board of Canada and CMHC
Monthly Evolution of Mortgage Rates – Five-Year Term
%
Source: Statistics Canada
2 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
(1)
*Statistics Canada definition, 2011 census (1) - No Centris® data available for Kanesatake and Kahnawake
©2013 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 List of Areas Montréal Metropolitan Area Click on the desired area in order to access the map and related data
Island of Montréal North Shore
Area 1 : West Isalnd South Area 23 : West of the North Shore Baie-d'Urfé, Beaconsfield, Dorval, L'Île-Dorval, Deux-Montagnes, Oka, Pointe-Calumet, Sainte-Marthe-sur-le-Lac, Pointe-Claire, Sainte-Anne-de-Bellevue, Senneville Saint-Eustache, Saint-Joseph-du-Lac, Saint-Placide Area 2 : West Island North Area 24 : Mirabel Kirkland, L'Île-Bizard/Sainte-Geneviève, Pierrefonds-Roxboro, Mirabel Dollard-des-Ormeaux Area 25 : Blainville Area 3 : Lachine/LaSalle Blainville, Lorraine, Rosemère Lachine (Montréal), LaSalle (Montréal) Area 26 : Boisbriand/Sainte-Thérèse Area 4 : South-West Boisbriand, Sainte-Thérèse Le Sud-Ouest (Montréal), Verdun (Montréal) Area 27 : Terrebonne Area 5 : Saint-Laurent Bois-des-Filion, Terrebonne, Lachenaie, Sainte-Anne-des-Plaines, Saint-Laurent (Montréal) La Plaine Area 6 : Ahuntsic-Cartierville Area 28 : Mascouche Ahuntsic-Cartierville (Montréal) Mascouche Area 7 : CDN/NDG/CSL Area 29 : Repentigny Côte-des-Neiges/Notre-Dame-de-Grâce (Montréal), Le Gardeur, Charlemagne, Repentigny Côte-Saint-Luc Area 30 : East of the North Shore Area 8 : Centre L'Assomption, Lavaltrie, Saint-Sulpice, L'Épiphanie (Paroisse), Hampstead, Montréal-Ouest, Mont-Royal, Outremont (Montréal), L'Épiphanie (Ville) Westmount Area 31 : Saint-Jérôme Area 9 : Nun’s Isalnd Gore, Saint-Colomban, Saint-Jérôme Île-des-Sœurs (Montréal) Area 10 : Ville-Marie Vaudreuil-Soulanges Ville-Marie (Montréal) Area 32 : Île-Perrot Area 11 : Le Plateau-Mont-Royal L'Île-Perrot, Notre-Dame-de-l'Île-Perrot, Pincourt, Le Plateau-Mont-Royal (Montréal) Terrasse-Vaudreuil Area 12 : Rosemont Area 33 : Vaudreuil-Dorion Rosemont/La Petite-Patrie (Montréal) L'Île-Cadieux, Vaudreuil-Dorion (sans Vaudreuil-Ouest), Area 13 : Villeray Vaudreuil-sur-le-Lac Villeray/Saint-Michel/Parc-Extension (Montréal) Area 34 : Soulanges South Area 14 : Mercier/Hochelaga-Maisonneuve Côteau-du-Lac, Saint-Zotique, Les Cèdres, Les Coteaux, Mercier/Hochelaga-Maisonneuve (Montréal) Pointe-des-Cascades Area 15 : Anjou/Saint-Léonard Area 35 : Saint-Lazare/Hudson Anjou (Montréal), Saint-Léonard (Montréal) Vaudreuil-Ouest, Saint-Lazare, Hudson Area 16 : Eastern Tip of the Island Montréal-Est, Montréal-Nord (Montréal), South Shore Rivière-des-Prairies/Pointe-aux-Trembles (Montréal) Area 36 : Châteauguay Beauharnois, Châteauguay, Léry, Mercier, Saint-Isidore, Laval Kahnawake
Area 17 : Downtown Laval Area 37 : South-West of the South Shore Chomedey, Fabreville, Laval-des-Rapides,Pont-Viau Delson, Saint-Constant, Sainte-Catherine, Saint-Mathieu, Saint-Philippe Area 18 : Sainte-Dorothée Area 38 : Candiac/La Prairie Sainte-Dorothée, Laval-sur-le-Lac Candiac, La Prairie Area 19 : Sainte-Rose/Auteuil/Vimont Area 39 : Brossard/Saint-Lambert Auteuil, Vimont, Sainte-Rose Brossard, Saint-Lambert Area 20 : Duvernay Area 40 : Vieux-Longueuil Duvernay Greenfield Park, Le Vieux-Longueuil Area 21 : Faberville Area 41 : Saint-Hubert Laval-Ouest, Faberville Saint-Hubert Area 22 : Saint-François/Saint-Vincent Area 42 : Boucherville/Saint-Bruno Saint-François, Saint-Vincent-de-Paul Boucherville, Saint-Bruno-de-Montarville Area 43 : Sainte-Julie/Varennes Saint-Amable, Sainte-Julie, Varennes, Verchères Area 44 : Beloeil/Mont-Saint-Hilaire Beloeil, McMasterville, Mont-Saint-Hilaire, Otterburn Park, Saint-Basile-le-Grand, Saint-Mathieu-de-Beloeil Area 45 : Chambly Carignan, Chambly, Richelieu, Saint-Mathias-sur-Richelieu
4 Market Evolution
Evolution of Centris® Sales Montréal Metropolitan Area
45,000
40,000
35,000
30,000
25,000
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Source: QFREB by the Centris® system
Evolution of Market Conditions - Single-Family Montréal Metropolitan Area
9
8
7
6
5
4 Lower than 8: seller’s market 3 Between 8 - 10: balanced market 2
Months ofMonths inventory Higher than 10: buyer’s market 1
0 2004 2005 2006 2007 2008 2009 2010 2011 2012
Source: QFREB by the Centris® system
Evolution of the Median Price - Single-Family Montréal Metropolitan Area
$ 300,000 280,000 260,000 240,000 220,000 200,000 180,000 160,000 140,000 120,000 100,000 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Source: QFREB by the Centris® system
Rate of Change in the Median Price - Single-Family Montréal Metropolitan Area
17% 16% 14%
14% 13% 12%
10% 10% 9%
8% 7% 7% 6% 5% 5% 4% 4% 4% 3%
2%
0% 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Source: QFREB by the Centris® system
5 Third Quarter Montréal Metropolitan Area
Sociodemographic Profile of the Montréal CMA
Population in 2011 3,824,221
Population change between 2006 and 2011 5.2%
Number of households in 2011 1,613,260
Population density per square kilometre 898
Proportion of owners 55%
Proportion of renters 45%
Source : Statistics Canada, 2011 Census
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
6 Third Quarter Island of Montréal
List of Areas
Click on the sector number in order to access the associated page.
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
7 Third Quarter Area 1: West Island South
List of Areas
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
8 Third Quarter Area 2: West Island North
List of Areas
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
9 Third Quarter Area 3: Lachine / LaSalle
List of Areas
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
10 Third Quarter Area 4: South West
List of Areas
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
11 Third Quarter Area 5: Saint-Laurent
List of Areas
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
12 Third Quarter Area 6: Ahuntsic-Cartierville
List of Areas
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
13 Third Quarter Area 7: CDN/NDG/CSL
List of Areas
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
14 Third Quarter Area 8: Centre
List of Areas
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
15 Third Quarter Area 9: Nun’s Island
List of Areas
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
16 Third Quarter Area 10: Ville-Marie
List of Areas
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
17 Third Quarter Area 11: Le Plateau-Mont-Royal
List of Areas
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
18 Third Quarter Area 12: Rosemont
List of Areas
** Insufficient number of transactions to produce reliable statistics
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
19 Third Quarter Area 13: Villeray
List of Areas
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
20 Third Quarter Area 14: Mercier/Hochelaga-Maisonneuve
List of Areas
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
21 Third Quarter Area 15: Anjou / Saint-Léonard
List of Areas
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
22 Third Quarter Area 16: Eastern Tip of the Island
List of Areas
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
23 Third Quarter Laval
List of Areas
Click on the sector number in order to access the associated page.
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
24 Third Quarter Area 17: Downtown Laval
List of Areas
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
25 Third Quarter Area 18: Sainte-Dorothée
List of Areas
** Insufficient number of transactions to produce reliable statistics
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
26 Third Quarter Area 19: Sainte-Rose/Auteuil/Vimont
List of Areas
** Insufficient number of transactions to produce reliable statistics
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
27 Third Quarter Area 20: Duvernay
List of Areas
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
28 Third Quarter Area 21: Fabreville
List of Areas
** Insufficient number of transactions to produce reliable statistics
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
29 Third Quarter Area 22: Saint-François/Saint-Vincent
List of Areas
** Insufficient number of transactions to produce reliable statistics
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
30 Third Quarter North Shore
List of Areas
Click on the sector number in order to access the associated page.
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
31 Third Quarter Area 23: West of the North Shore
List of Areas
** Insufficient number of transactions to produce reliable statistics
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
32 Third Quarter Area 24: Mirabel
List of Areas
** Insufficient number of transactions to produce reliable statistics
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
33 Third Quarter Area 25: Boisbriand/Sainte-Thérèse
List of Areas
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
34 Third Quarter Area 26: Blainville
List of Areas
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
35 Third Quarter Area 27: Terrebonne
List of Areas
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
36 Third Quarter Area 28: Mascouche
List of Areas
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
37 Third Quarter Area 29: Repentigny
List of Areas
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
38 Third Quarter Area 30: East of the North Shore
List of Areas
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
39 Third Quarter Area 31: Saint-Jérôme
List of Areas
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
40 Third Quarter Vaudreuil-Soulanges
List of Areas
Click on the sector number in order to access the associated page.
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
41 Third Quarter Area 32: Île-Perrot
List of Areas
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
42 1erThird trimestre Quarter 2013 Area 33: Vaudreuil-Dorion
List of Areas
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
43 1erThird trimestre Quarter 2013 Area 34: Soulanges South
List of Areas
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
44 1erThird trimestre Quarter 2013 Area 35: Saint-Lazare/Hudson
List of Areas
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
45 Third Quarter South Shore
List of Areas
Click on the sector number in order to access the associated page.
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
46 Third Quarter Area 36: Châteauguay
List of Areas
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
47 Third Quarter Area 37: South-West of the South Shore
List of Areas
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
48 Third Quarter Area 38: Candiac/La Prairie
List of Areas
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
49 Third Quarter Area 39: Brossard/Saint-Lambert
List of Areas
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
50 Third Quarter Area 40: Vieux-Longueuil
List of Areas
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
51 Third Quarter Area 41: Saint-Hubert
List of Areas
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
52 Third Quarter Area 42: Boucherville/Saint-Bruno
List of Areas
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
53 Third Quarter Area 43: Sainte-Julie/Varennes
List of Areas
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
54 Third Quarter Area 44: Beloeil/Mont-Saint-Hilaire
List of Areas
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
55 Third Quarter Area 45: Chambly
List of Areas
** Insufficient number of transactions to produce reliable statistics
Buyer’s market
Balanced market
Seller’s market
Definitions and Explanatory Notes ® Source: QFREB by the Centris system
56 Definitions and Explanatory Notes
Previous View
Centris® System The Centris® system is the most extensive and current Caution computerized database of real estate transactions. It is The average and median property prices indicated in governed by very specific rules that all real estate brokers in this brochure are based on transactions concluded via Québec must adhere to. Only real estate brokers who are the Centris® system during the targeted period. They members of a real estate board have access to it. do not necessarily reflect the average or median Residentiel value of all properties in a sector. Similarly, the evolution of average prices or median prices between Includes the following property categories: single-family two periods does not necessarily reflect the evolution homes, condominiums, plexes (revenue properties with 2 to of the value of all properties in a sector. As a result, 5 dwellings), and hobby farms. caution is required when using these statistics, particularly when the number of transactions is low. New Listings The number of new brokerage contracts with a signature date that falls within the targeted period.
Active Listings Inventory The total number of listings that have an "active" status on Corresponds to the average number of active listings in the the last day of the month. Quarterly and annual data past 12 months. correspond to the average monthly data for the targeted period. Number of Months of Inventory The number of months needed to sell the entire inventory of Number of Sales properties for sale, calculated according to the pace of sales Total number of sales concluded during the targeted period. of the past 12 months. It is obtained by dividing the The sale date is the date on which the promise to purchase inventory by the average number of sales in the past 12 is accepted, which takes effect once all conditions are met. months. This calculation eliminates fluctuations due to the seasonal nature of listings and sales. Volume of sales For example, if the number of months of inventory is six, this Amount of all sales concluded during the targeted period, in means that it would take six months to sell the entire dollars ($). inventory of properties for sale. We can also say that the inventory corresponds to six months of sales. It is important Average Selling Time to note that this measure is different than the average Average number of days between the date the brokerage selling time. contract was signed and the date of sale. Market Conditions Variation Market conditions are based on the number of months of Due to the seasonal nature of real estate indicators, inventory. Due to the way the number of months of quarterly variations are calculated in relation to the same inventory is calculated (see above), market conditions quarter of the previous year. reflect the situation of the past 12 months. Average Sale Price If the number of months of inventory is between 8 and 10, Average value of sales concluded during the targeted the market is considered balanced, meaning that it does not period. Some transactions may be excluded from the favour buyers or sellers. In such a context, price growth is calculation in order to obtain a more significant average generally moderate. price. If the number of months of inventory is less than 8, the market favours sellers (seller's market). In such a context, Median Sale Price price growth is generally high. Median value of sales concluded during the targeted period. If the number of months of inventory is greater than 10, the The median price divides all transactions into two equal market favours buyers (buyer's market). In such a context, parts: 50 per cent of transactions were at a lower price than price growth is generally low and may even be negative. the median price and the other 50 per cent were at a higher price. Some transactions may be excluded from the calculation in order to obtain a more significant median price.
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 © 2013 Québec Federation of Real Estate Boards. All rights reserved. The content of this publication is protected by copyright laws and is owned by the Québec Federation of Real Estate Boards. Any reproduction of the information contained in this publication, in whole or in part, directly or indirectly, is specifically forbidden except with the prior written permission of the owner of the copyright.
Information and Subscription This publication is produced by the Market Analysis Department of the QFREB. To subscribe to the Barometers, click here. Contact us at: [email protected]. To obtain more specific information about the dynamics of the real estate market in a given sector, or for an assessment of a property's market value, please contact a local real estate broker who is a member of a real estate board.
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