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QFREB

Barometer

Residential Market

Montréal Metropolitan Area

Highlights
Montréal CMA: Slight Decrease in Sales and Slight
Increase in Prices in 2014
Condominium Sales Increase on the North Shore
Renewed Activity for High-End Homes
Bleak Employment Levels and Consumer
Confidence
Fourth Quarter: The Best of 2014
®

Analysis

Montréal CMA: Slight Decrease in Sales and Slight Increase
in Prices in 2014
In 2014, a total of 35,764 residential sales were concluded through
a real estate broker in the Montréal Census Metropolitan Area
(CMA). This represents a 2 per cent decrease compared to 2013
and the fourth consecutive annual drop in sales. Geographically,
all five of the CMA’s main areas registered a decrease in sales in
2014: sales fell by 1 per cent on the Island of Montréal, in Laval
and in Vaudreuil-Soulanges, by 3 per cent on the North Shore and
by 4 per cent on the South Shore.

homes was more than $420,0002. Many affluent areas of the
CMA also stood out in terms of prices and registered particularly
large increases in 2014. The median price of single-family homes
rose by 9 per cent in the Villeray and Centre areas, by 8 per cent
in Rosemont, by 6 per cent in Boucherville/Saint-Bruno and
Ville-Marie, by 5 per cent in Île-des-Sœurs, Candiac/LaPrairie and
Beloeil/Mont-Saint-Hilaire, and by 4 per cent in Brossard/SaintLambert, all areas where homes are relatively expensive.

Market conditions continued to relax in 2014, giving
buyers even more negotiating power and further
strengthening the advantage they already had on the
condominium market.

As for plexes, the market was generally stable on the Island of
Montréal and on the North Shore, as both areas registered a slight
1 per cent increase in sales in 2014, as opposed to Laval and the
South Shore where plex sales fell by 22 per cent and 8 per cent
respectively, as compared to 2013. The North Shore stood out with
a 10 per cent increase in the median price of plexes, with half of all
plexes selling for more than $353,000.

In terms of supply, the number of properties for sale continued to
climb in 2014 in the Montréal CMA. The number of active listings
increased by 9 per cent, with an average of 33,313 properties for
sale. Market conditions continued to relax in 2014, giving buyers
even more negotiating power and further strengthening the
advantage they already had on the condominium market.
Condominium Sales Increase on the North Shore
Sales of all three property categories – single-family homes,
condominiums and plexes – slowed across the Montréal CMA
in 2014. Condominiums registered the largest drop in sales at
3 per cent, while the decrease was limited to 2 per cent for plexes
and 1 per cent for single-family homes.
Some areas defied this downward trend and actually registered a
strong year in terms of condominium sales. This was the case in
many areas of the North Shore, where market conditions are the
most relaxed and where condominium prices are most affordable.
The largest increases in condominium sales were in the areas
of Mirabel (+76 per cent), Blainville (+29 per cent), Saint-Jérôme
(+32 per cent), Boisbriand/Sainte-Thérèse (+16 per cent) and
Mascouche (+9 per cent)1. In contrast, 27 other areas of the CMA
registered a decrease in condominium sales in 2014. Also, a
significant increase in median price, greater than 5 per cent, was
seen in the areas of East of the North Shore, Blainville, Mirabel and
Repentigny.
Renewed Activity for High-End Homes

While affordability attracted condominium buyers,
the largest increases in single-family home sales were
mainly observed in the more expensive neighbourhoods
of the CMA.
While affordability attracted condominium buyers, the largest
increases in single-family home sales were mainly observed
in the more expensive neighbourhoods of the CMA: the number
of single-family home transactions increased by 35 per cent in
Ville-Marie, by 18 per cent in Plateau-Mont-Royal, by 16 per cent
in NDG/CDN/CSL, by 14 per cent in Centre and by 10 per cent in
Rosemont. In all of these areas, the median price of single-family

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L’Île-Perrot and Sainte-Dorothée also registered large increases, at
14 per cent and 9 per cent, respectively.

Bleak Employment Levels and Consumer Confidence
The labour market in the Montréal CMA experienced a significant
slowdown in 2014, particularly for full-time jobs, which have a more
direct impact on the housing market. In 2014, a total of 19,500
full-time jobs were lost compared to 2013, which more than offset
the gain of 14,000 part-time jobs . With these results, consumer
confidence also decreased: the proportion of Québec households
that felt it was a good time to make a major purchase, such as
a home, fell from 43 per cent in the fourth quarter of 2013 to
38 per cent in the fourth quarter of 2014. Thus, the historically
low interest rates were not enough to put the Montréal real estate
market on a path of growth in 2014.
Fourth Quarter: The Best of 2014

The second half of 2014 was much more dynamic
than the first half, with increases in sales and more
sustained price growth.
The second half of 2014 was much more dynamic than the first
half, with increases in sales and more sustained price growth.
In the fourth quarter of 2014, some 7,410 residential sales were
concluded in the Montréal CMA, a 2 per cent increase compared
to the last quarter of 2013 and the second consecutive quarterly
increase.
While all three property categories posted an increase in sales,
plexes stood out with a 10 per cent jump in the fourth quarter of
2014. Both single-family homes and condominiums registered a
1 per cent increase in sales during this same period.
Price growth was also more solid compared to previous quarters.
In the fourth quarter of the year, the median price of single-family
homes and condominiums increased by 2 per cent, while that of
plexes grew by 3 per cent across the CMA compared to the fourth
quarter of 2013.

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Significant increases were also observed in Vaudreuil-Dorion (+16 per cent)
and Boisbriand/Sainte-Thérèse (+13 per cent).

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Fourth Quarter 2014

Economic Indicators
Mortgage rates (3)
Variation (1)

Level

Annual change

1-year term

3.14%

0.00

0.00

3-year term

3.44%

-0.31

-0.51

5-year term

4.79%

0.00

-0.55

(2)

Annual inflation rate (Canada)
Level
Overall Consumer Price Index
(4)

Bank of Canada's Core Consumer Price Index

Variation

(1)

Annual change

1.9%

-0.2

N/A

2.2%

0.2

N/A

(2)

Consumer confidence level (Québec province)
Variation (1)

Level
Overall
Good time to make a major purchase

(5)

Annual change

63

-13

-11

38%

-7

-5

(2)

Labour market (Montréal census metropolitan area)
Variation (1)

Niveau
Employment (in thousands)
Unemployment rate

(6)

(6)

Annual change

2,033.8

9.3

-8.2

8.1%

-0.3

0.1

(2)

Housing starts (Montréal census metropolitan area)
Level
(7)

Variation

(1)

Annual change

5,644

N/A

24%

Single-Family

1,025

N/A

-5%

Condominium

3,018

N/A

35%

1,601

N/A

46%

Total

Rental
(1)

Variation from previous quarter

(2)
(3)

Variation from the same quarter one year ago
Mortgage rate offered by Canada’s main banks

(4)
(5)

Measure used by the Bank of Canada to guide its decisions
Proportion of people who responded “yes” to this question

(6)
(7)

Seasonally adjusted
The total also includes co-operative housing

(2)

Note : Green arrows indicate good news and red
arrows indicate bad news.
The  arrows indicate stability.

Sources: Statistics Canada, Conference Board of Canada and CMHC

Monthly Evolution of Mortgage Rates – Five-Year Term
%

5.90

5.70

5.50

5.30

5.10

4.90

4.70

4.50

Source: Statistics Canada

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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.

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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 Island South

Area 23 : West of the North Shore

Baie-d'Urfé, Beaconsfield, Dorval, L'Île-Dorval,
Pointe-Claire, Sainte-Anne-de-Bellevue, Senneville

Area 2 : West Island North
Kirkland, L'Île-Bizard/Sainte-Geneviève, Pierrefonds-Roxboro,
Dollard-des-Ormeaux

Area 3 : Lachine/LaSalle
Lachine (Montréal), LaSalle (Montréal)

Area 4 : South-West
Le Sud-Ouest (Montréal), Verdun (Montréal)

Area 5 : Saint-Laurent
Saint-Laurent (Montréal)

Area 6 : Ahuntsic-Cartierville
Ahuntsic-Cartierville (Montréal)

Area 7 : CDN/NDG/CSL
Côte-des-Neiges/Notre-Dame-de-Grâce (Montréal),
Côte-Saint-Luc

Area 8 : Centre
Hampstead, Montréal-Ouest, Mont-Royal, Outremont (Montréal),
Westmount

Area 9 : Nun’s Island
Île-des-Sœurs (Montréal)

Area 10 : Ville-Marie
Ville-Marie (Montréal)

Area 11 : Le Plateau-Mont-Royal
Le Plateau-Mont-Royal (Montréal)

Area 12 : Rosemont
Rosemont/La Petite-Patrie (Montréal)

Area 13 : Villeray
Villeray/Saint-Michel/Parc-Extension (Montréal)

Area 14 : Mercier/Hochelaga-Maisonneuve
Mercier/Hochelaga-Maisonneuve (Montréal)

Area 15 : Anjou/Saint-Léonard
Anjou (Montréal), Saint-Léonard (Montréal)

Area 16 : Eastern Tip of the Island
Montréal-Est, Montréal-Nord (Montréal),
Rivière-des-Prairies/Pointe-aux-Trembles (Montréal)

Deux-Montagnes, Oka, Pointe-Calumet, Sainte-Marthe-sur-le-Lac,
Saint-Eustache, Saint-Joseph-du-Lac, Saint-Placide

Area 24 : Mirabel
Mirabel

Area 25 : Boisbriand/Sainte-Thérèse
Boisbriand, Sainte-Thérèse

Area 26 : Blainville
Blainville, Lorraine, Rosemère

Area 27 : Terrebonne
Bois-des-Filion, Terrebonne, Lachenaie, Sainte-Anne-des-Plaines,
La Plaine

Area 28 : Mascouche
Mascouche

Area 29 : Repentigny
Le Gardeur, Charlemagne, Repentigny

Area 30 : East of the North Shore
L'Assomption, Lavaltrie, Saint-Sulpice, L'Épiphanie (Paroisse),
L'Épiphanie (Ville)

Area 31 : Saint-Jérôme
Gore, Saint-Colomban, Saint-Jérôme

Vaudreuil-Soulanges
Area 32 : Île-Perrot
L'Île-Perrot, Notre-Dame-de-l'Île-Perrot, Pincourt,
Terrasse-Vaudreuil

Area 33 : Vaudreuil-Dorion
L'Île-Cadieux, Vaudreuil-Dorion (sans Vaudreuil-Ouest),
Vaudreuil-sur-le-Lac

Area 34 : Soulanges South
Côteau-du-Lac, Saint-Zotique, Les Cèdres, Les Coteaux,
Pointe-des-Cascades

Area 35 : Saint-Lazare/Hudson
Vaudreuil-Ouest, Saint-Lazare, Hudson

South Shore
Area 36 : Châteauguay
Beauharnois, Châteauguay, Léry, Mercier, Saint-Isidore,
Kahnawake

Laval
Area 17 : Downtown Laval
Chomedey, Laval-des-Rapides,Pont-Viau

Area 18 : Sainte-Dorothée
Sainte-Dorothée, Laval-sur-le-Lac

Area 19 : Sainte-Rose/Auteuil/Vimont
Auteuil, Vimont, Sainte-Rose

Area 20 : Duvernay
Duvernay

Area 21 : Faberville
Laval-Ouest, Faberville

Area 22 : Saint-François/Saint-Vincent
Saint-François, Saint-Vincent-de-Paul

Area 37 : South-West of the South Shore
Delson, Saint-Constant, Sainte-Catherine,
Saint-Mathieu, Saint-Philippe

Area 38 : Candiac/La Prairie
Candiac, La Prairie

Area 39 : Brossard/Saint-Lambert
Brossard, Saint-Lambert

Area 40 : Vieux-Longueuil
Greenfield Park, Le Vieux-Longueuil

Area 41 : Saint-Hubert
Saint-Hubert

Area 42 : Boucherville/Saint-Bruno
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

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Single-Family Montréal Metropolitan Area 12 Months of inventory 10 8 6 4 Lower than 8: seller’s market Between 8 .000 100.000 220.000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Source: QFREB by the Centris® system Rate of Change in the Median Price .000 260.Single-Family Montréal Metropolitan Area 18% 17 % 16% 14 % 14% 13 % 12% 10 % 10% 9% 8% 7% 7% 6% 5% 4% 5% 4% 4% 3% 2% 2% 2% 0% 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Source: QFREB by the Centris® system 6 .10: balanced market 2 Higher than 10: buyer’s market 0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Source: QFREB by the Centris® system Evolution of the Median Price .000 140.000 280.000 200.000 35.000 240.000 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Source: QFREB by the Centris® system Evolution of Market Conditions .000 25.Market Evolution Evolution of Centris® Sales Montréal Metropolitan Area 45.000 120.Single-Family $ Montréal Metropolitan Area 300.000 40.000 180.000 30.000 160.

2011 Census 1% Table 2 .613.764 New Listings 77.000 Average Price $354.274 Active Listings 16.266 422.025 10 90      20% 22% 8 Past 5 years -3% 9%   1% 2% 18% 19% 14 Last 12 Months 10%   1% Last 12 Months 1% Plex Fourth Quarter 2014 Sales Last 12 Months 1% Past 5 years -2% 7%   25% Sales (average of the 12 months) Months of Inventory Market Conditions (I)/(S) 2% 3% 27% 4 ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .3 6.221 2% Population change between 2006 and 2011 2% 8% 5.3 18.485 242.428 10           Past 5 years -1% 10% 120      3% 3.824.029 Median Price $443.546     3.Fourth Quarter 2014 Montréal Metropolitan Area Table 1.519 5 Condominium Fourth Quarter 2014 Sales 2.608     -2% 898 Proportion of owners 55% Proportion of renters 45% 1% 9% Source : Statistics Canada.8 6.1 200 to 249 2.115 Average Days (days) 96      21.000 4% $457.022 2% $230.689 Median Price $285.214 Active Listings 12.7 Buyer's Seller's Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 7 .566 Median Price $237.356 Volume (in thousands $) 2.889 Active Listings 32.790 Active Listings 33.000 Average Price $469.540 14% 3.500 5% $339.627 390.9 13.154 156.3 Balanced 300 to 399 4.7 Seller's 250 to 299 3.000 5% $269.760.945 6% 13.313 Volume (in thousands $) 11.573.410 New Listings 15.260 Population density per square kilometre Last 12 Months Sales 35.2% Number of households in 2011 7% 1.377 Average Days (days) 122      916 Active Listings 3.Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sociodemographic Profile of the Montréal CMA Population in 2011 Sales 7.217 2% $282.006 3% $435.250 8% 17.Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 4.1 Buyer's 400 to 499 2.026 363.Market Conditions by Price Range Single-Family Last 12 Months By category Last 12 Months Buyer’s market Balanced market Price Range ($ thousands) Inventory (average of the 12 months) (I) (S) Less than 200 1.1 10.500 Average Price $286.7 Buyer's 500 and more 3.660 195.842 Average Days (days) 94 93 10.4 8.

281 Median Price $280.4 Buyer's 250 to 299 1.Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 993 Active Listings 3.429 6 84      24% 30% 11 Past 5 years -2% 9%   1% 2% 18% 20% 12 Last 12 Months 11%   1% Last 12 Months -1% Plex Fourth Quarter 2014 Sales 4.739 117. Table 1.8 Buyer's 400 to 499 760 45.365 Active Listings 7.672 7% Condominium Fourth Quarter 2014 Sales Last 12 Months 0% Past 5 years 1% 8%   28% Sales (average of the 12 months) Months of Inventory Market Conditions 2% 3% 29% 1 ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .655     2% 1% 8% 10% Last 12 Months Sales 13.7 Buyer's 1.Fourth Quarter 2014 Island of Montréal List of Areas Click on the sector number in order to access the associated page.061 47.315 Median Price $395.118 106.434 Active Listings 13.650 13% 2.075 3% $460.058 New Listings 6.464 127.750     -1% 1% 9% 3% Table 2 .5 Buyer's 300 to 399 1.535 3% $385.000 Average Price $502.160 Active Listings 12.335 Average Days (days) 89 88 6.3 10.5 14.Market Conditions by Price Range Condominium Last 12 Months By category Last 12 Months Price Range ($ thousands) (I) (S) (I)/(S) Less than 200 1.000 11% $510.348.191 4           Past 5 years 0% 9% 119      5% 2.4 Buyer's Buyer’s market Balanced market Inventory (average of the 12 months) 500 and more Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 8 .Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 3.500 6% $311.113 Average Days (days) 119 3.806 Average Days (days) 95      1.190 9      700 Active Listings 2.732.5 Buyer's 200 to 249 1.436 106.578 4% $267.000 4% $489.936 New Listings 31.614 6% 7.000 Average Price $332.000 Average Price $548.9 11.064 Median Price $473.3 22.660 Volume (in thousands $) 1.4 16.187 Volume (in thousands $) 5.7 13.

4 9.Market Conditions by Price Range Single-Family Last 12 Months By category Last 12 Months Buyer’s market Price Range ($ thousands) Inventory (average of the 12 months) (I) Balanced market Source: QFREB by the Centris® system Months of Inventory (S) (I)/(S) Market Conditions Less than 300 35 11.000 16% $466.Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 191 New Listings 291 Active Listings 505 Volume (in thousands $) 91.3 4.000 Average Price $513.3 19.4 Seller's 350 to 399 65 11.914     11%     0% 15% 6% 25% Last 12 Months Sales 864 New Listings 1.165 10 Condominium Fourth Quarter 2014 Sales Last 12 Months 17% 73 124 Active Listings 101 Median Price ** $259.Fourth Quarter 2014 Area 1: West Island South List of Areas Table 1.8 8.500 Average Price ** $299.3 Balanced 98 10.4 5.555 Average Days (days) 82      725 11% 442 1% $380.096 4% 9% 6% Table 2 .2 3.Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 160 Active Listings 396 Median Price $376.1 Seller's 300 to 349 50 11.4 Balanced 104 5.7 Seller's 400 to 499 90 10.8 Buyer's 500 to 699 Seller’s market Sales (average of the 12 months) 700 and more Definitions and Explanatory Notes 9 .691 Active Listings 570 Volume (in thousands $) 381.645 -7% 117 Average Days (days) 111 Plex Fourth Quarter 2014 Sales Active Listings Past 5 years 0% 10%      7% 15 7 10 Median Price ** ** Average Price ** ** 18% 23% 6 Past 5 years -1% 14%   7% 1% 13% 15% 9 Last 12 Months 5   3% Last 12 Months 26       Past 5 years Average Days (days) ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .

035 Volume (in thousands $) 98.000 18% $230.Market Conditions by Price Range Single-Family Last 12 Months By category Last 12 Months Price Range ($ thousands) Buyer’s market Balanced market Inventory (average of the 12 months) Sales (average of the 12 months) Months of Inventory (I)/(S) Market Conditions (I) (S) Less than 300 111 19.070 11% 774 4% $357.4 5.185 13 Condominium Fourth Quarter 2014 Sales Last 12 Months -4%      74 Past 5 years 2% 7% 299 -17% 351 18% $220.967 Average Days (days) 79      51 Active Listings 305 Median Price $223.Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 207 Active Listings 712 Median Price $362.0 6.7 8.108 Average Days (days) 125 1.3 31.4 Buyer's 700 and more 132 4.1 Buyer's Seller's Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 10 .117 Active Listings 1.3 Balanced 500 to 699 116 10.5 Balanced 400 to 499 130 15.Fourth Quarter 2014 Area 2: West Island North List of Areas Table 1.Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 268 New Listings 563 Active Listings 1.7 8.7 300 to 349 135 22.913     0% 9% 1% 1% Last 12 Months Sales 1.149 Volume (in thousands $) 504.2 11.000 -1% $397.500 Average Price $234.045     2% -2% 2% 4% Table 2 .392 New Listings 3.1 Seller's 350 to 399 150 17.500 Average Price $395.004 33 106      1% 10 23 Active Listings 18 23 Median Price ** ** Average Price ** ** 25% 22% 9 Past 5 years 7% -7%   5% 5% 21% 19% 21 Last 12 Months Sales   2% Last 12 Months 4% Plex Fourth Quarter 2014      Past 5 years Average Days (days) ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .

398 Average Days (days) 74      61 Active Listings 344 Median Price $225.Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 50 Active Listings 165 Median Price $343.000 Average Price $350.206 25           Past 5 years 0% 15% 115      0% 251 -4% 207 13% $425.Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 168 New Listings 312 Active Listings 705 Volume (in thousands $) 55.3 Buyer's 300 to 349 53 2.545 -7 94      30% 26% 1 Past 5 years 2% 12%   -2% -3% 11% 12% 10 Last 12 Months 21%   1% Last 12 Months 2% Plex Fourth Quarter 2014 Sales 224 14% Condominium Fourth Quarter 2014 Sales Last 12 Months 0% Past 5 years 6% 1% 2% 3%   20% Market Conditions 22% -4 ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .959     7% -2% 8% 6% Last 12 Months Sales 770 New Listings 1.0 Buyer's 350 and more 54 2.000 -7% $374.5 21.000 Average Price $416.708 -9      57 Active Listings 196 Median Price $425.0 Balanced 250 to 299 76 6.000 5% $419.767 Active Listings 724 Volume (in thousands $) 263.7 20.000 -7% $251.343 Average Days (days) 95 80 295 12% 339 -5% $245.2 10.5 Buyer's Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 11 .121     3% 1% 9% 3% Table 2 .109 Average Days (days) 110 177 -7% $369.Fourth Quarter 2014 Area 3: Lachine / LaSalle List of Areas Table 1.Market Conditions by Price Range Condominium Last 12 Months By category Last 12 Months Buyer’s market Balanced market Price Range ($ thousands) Inventory (average of the 12 months) Sales (average of the 12 months) Months of Inventory (I) (S) (I)/(S) Less than 200 74 5.000 Average Price $241.6 Buyer's 200 to 249 82 8.1 14.2 12.

Fourth Quarter 2014 Area 4: South West List of Areas Table 1.9 Buyer's 300 to 399 152 10.0 15.000 6% $286.249  Average Days (days) 78  ** Insufficient number of transactions to produce reliable statistics Sales Active Listings Evolution of Market Conditions 708 16% 711 5% $260.556 -6 98 -15% 319 171 0% 189 8% $430.702 8 Seller’s market Source: QFREB by the Centris® system      77        1% -1% 37% 41% 23 Past 5 years 7% 21%   -2% 0% 19% 20% 3 Past 5 years -4% -1% 7% 3%   42% Market Conditions 42% 0 Table 3 .200 Average Price $303.Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 228 New Listings 441 Active Listings 919 Volume (in thousands $) 81.174 New Listings 2.0 19.8 11.2 8.Market Conditions by Price Range Condominium Last 12 Months Price Range ($ thousands) Less than 200 Balanced market 4% Last 12 Months 73 By category Last 12 Months Buyer’s market Past 5 years -6% Last 12 Months -11% Plex Fourth Quarter 2014      Inventory (average of the 12 months) Sales (average of the 12 months) Months of Inventory (I) (S) (I)/(S) 72 8.5 Buyer's Definitions and Explanatory Notes 12 .0 Balanced 250 to 299 189 15.2 Buyer's 400 and more 136 7.000 Average Price ** $423.535 Active Listings 994 Volume (in thousands $) 405.452     -15%     2% -9% 10% -16% Last 12 Months Sales 1.155 4% 15% 2% Table 2 .0 9.040 Average Days (days) 108        Median Price $450.000  Average Price $443.556 147  -4% 93 Average Days (days) 90 Condominium Fourth Quarter 2014 Sales 133 Active Listings 663 Median Price $272.8 Balanced 200 to 249 162 18.000 -4% $440.Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Last 12 Months Sales 22 Active Listings 85 Median Price ** $417.

194 Average Days (days) 110      273 35% 221 -6% $466.8 17.613 Active Listings 625 Volume (in thousands $) 286.684 Average Days (days) 128 Last 12 Months 12%      102 333 22% 341 8% $282.5 10.Fourth Quarter 2014 Area 5: Saint-Laurent List of Areas Table 1.3 Buyer's 250 to 299 75 6.000 Average Price $537.462     -6% 11% 11% -3% Table 2 .000 Average Price ** $520.6 Buyer's 300 to 349 71 6.755 10 Condominium Fourth Quarter 2014 Sales 77 Active Listings 329 Median Price $295.Market Conditions by Price Range Condominium Last 12 Months By category Last 12 Months Price Range ($ thousands) Buyer’s market Balanced market Inventory (average of the 12 months) Sales (average of the 12 months) Months of Inventory (I) (S) (I)/(S) Less than 250 92 9.000 10% $297.Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 170 New Listings 343 Active Listings 612 Volume (in thousands $) 74.5 11.000 2% $544.0 10.9 Buyer's 103 5.229 75 -6% 64 Average Days (days) 85        -4% -1% 31% 33% 13 Past 5 years -10% 11%   4% 6% 28% 26% 3 Last 12 Months Sales  12% Last 12 Months 5% Plex Fourth Quarter 2014      Past 5 years -5% Past 5 years 12% 5% -5% -2%   24% Market Conditions 31% -22 ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 77 Active Listings 228 Median Price $435.9 Buyer's 350 and more Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 13 .000 Average Price $311.775 16 108      16 Active Listings 55 Median Price ** $488.200     6% 29% 23% 11% Last 12 Months Sales 681 New Listings 1.

5 10.675     -6% -2% 0% -7% Table 2 .367  Average Days (days) 94  ** Insufficient number of transactions to produce reliable statistics Active Listings 93 16% Plex Fourth Quarter 2014 Sales 189 -10% Condominium Fourth Quarter 2014 Sales Last 12 Months -32% Inventaire (moyenne des 12 mois) Ventes (moyenne des 12 mois) Nombre de mois d'inventaire (I) (V) (I)/(V) Conditions de marché Moins de 200 73 7.000 -10% $466.000 Average Price $462.000 0% $518.6 Acheteur 300 et plus 71 5.0 10.Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 168 New Listings 332 Active Listings 622 Volume (in thousands $) 67.5 Acheteur 200 à 249 91 8.000  Average Price $507.7 Acheteur 250 à 299 65 5.Conditions de marché par gamme de prix Copropriété 12 derniers mois Par catégorie 12 derniers mois Gammes de prix (en milliers $) Buyer’s market Balanced market      Last 12 Months -65   Median Price $510.466 1      Évolution des conditions de marché 318 8% 301 11% $235.392 14 96        -6% -7% 27% 26% 9 Past 5 years -2% 0%   4% 2% 18% 20% -38 Last 12 Months 65 Past 5 years 0% 3%   4% 2% 29% 27% 19 Tableau 3 .455 Average Days (days) 99      64 Active Listings 313 Median Price $243.4 13.000 11% $246.6 11.Fourth Quarter 2014 Area 6: Ahuntsic-Cartierville List of Areas Table 1.1 Acheteur Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 14 .Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 39 Active Listings 140 Median Price $396.000 Average Price $257.563 Active Listings 640 Volume (in thousands $) 290.071 Average Days (days) 89 -17% 165 $420.210     1% 2% 0% -3% Last 12 Months Sales 747 New Listings 1.368 120 Past 5 years -17% -3%      20% 240 169 4% 175 8% $505.

9 Buyer's 300 to 399 152 11.000 15% $343.1 Buyer's 400 to 499 76 4.000 Average Price $562.576 32 87      41% 38% 12 Past 5 years 5% 3%   -2% 2% 18% 15% 21 Last 12 Months 3%   1% Last 12 Months 2% Plex Fourth Quarter 2014 Sales 297 9% Condominium Fourth Quarter 2014 Sales Last 12 Months 25% Past 5 years -6% 8% 4% 4%   26% Market Conditions 33% 7 ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .613     6% 1% 3% 9% Table 2 .8 16.000 1% $591.000 Average Price $368.2 Buyer's Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 15 .Market Conditions by Price Range Condominium Last 12 Months By category Last 12 Months Price Range ($ thousands) Buyer’s market Less than 200 Balanced market Inventory (average of the 12 months) Sales (average of the 12 months) Months of Inventory (I) (S) (I)/(S) 81 7.500 Average Price $679.969 3      37 Active Listings 130 Median Price $530.2 13.064 -2           Past 5 years 16% 1% 128      2% 151 22% 122 7% $540.978 Average Days (days) 88      96 Active Listings 568 Median Price $308.194 Active Listings 906 Volume (in thousands $) 461.6 13.Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 66 Active Listings 175 Median Price $613.493 Average Days (days) 104 86 535 8% 591 6% $305.Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 199 New Listings 403 Active Listings 874 Volume (in thousands $) 101.Fourth Quarter 2014 Area 7: CDN/NDG/CSL List of Areas Table 1.065     9% 1% 8% 23% Last 12 Months Sales 983 New Listings 2.480 Average Days (days) 117 0% 193 $585.6 10.7 Buyer's 200 to 299 196 14.5 13.000 12% $638.0 Buyer's 500 and more 86 6.

500 25% $549.3 Balanced 1500 and more 154 7.988 31 Condominium Fourth Quarter 2014 Sales Last 12 Months 10%      124 Past 5 years 14% 12% 214 7% 265 12% $444.704 48 133      5% 12 Active Listings 33 Median Price ** ** Average Price ** ** 33% 33% 26 Past 5 years -13% 5%   1% 6% 27% 44% 32 Last 12 Months Sales   9% Last 12 Months 2% Plex Fourth Quarter 2014      Past 5 years 29  57% 35  41% Average Days (days) ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .203.303.000 Average Price $1.1 Buyer's Balanced market Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 16 .500 18% $1.402 Active Listings 669 Volume (in thousands $) 654.087.Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 99 Active Listings 354 Median Price $1.6 6.3 8.Fourth Quarter 2014 Area 8: Centre List of Areas Table 1.770 Average Days (days) 140      56 Active Listings 261 Median Price $511.253.Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 167 New Listings 247 Active Listings 648 Volume (in thousands $) 174.000 Average Price $622.6 Seller's 800 to 999 50 5.Market Conditions by Price Range Single-Family Last 12 Months By category Last 12 Months Price Range ($ thousands) Buyer’s market Inventory (average of the 12 months) Sales (average of the 12 months) Months of Inventory (I) (S) (I)/(S) Market Conditions Less than 800 63 9.161 Average Days (days) 148 424 5% 370 30% $1.8 8.955     10%     3% -5% 7% 32% Last 12 Months Sales 667 New Listings 1.013 1% 10% 12% Table 2 .7 20.7 Balanced 1000 to 1499 103 12.

3 16.Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 56 New Listings 174 Active Listings 407 Volume (in thousands $) 30.1 Buyer's 500 and more 109 4.000  $848.737 2%  141 9  Last 12 Months 218  320  $386.5 24.2 23.902     -2% 25% 14% 5% Last 12 Months Sales 257 New Listings 790 Active Listings 413 Volume (in thousands $) 143.913  123  Plex First Quarter 2014 Last 12 Months 0 Active Listings Past 5 years -20% 35%   19% 7% 45% 18% 14 Past 5 years -14% 26%   4% -2% 19% 18% 12 Past 5 years 0 0 0 Median Price ** ** Average Price ** ** Average Days (days) ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .Statistiques Centris ® détaillées par catégorie de propriété Single-Family First Quarter 2014 Sales 9 Active Listings 66 Median Price ** Average Price **  50% Average Days (days) Sales Active Listings Median Price Average Price Average Days (days) Sales Last 12 Months 57  60  $775.500  $428.1 Buyer's 350 to 499 120 5.Fourth Quarter 2014 Area 9: Nun’s Island List of Areas Table 1.1 Buyer's Balanced market Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 17 .660     -8% 1% 13% 0% Tableau 2 .Market Conditions by Price Range Condominium Last 12 Months By category Last 12 Months Price Range ($ thousands) Buyer’s market Inventory (average of the 12 months) Sales (average of the 12 months) Months of Inventory (I) (S) (I)/(S) Market Conditions Less than 350 117 7.500 3%  $451.570  101  Condominium First Quarter 2014 56 14%  331 14%  $389.

8 Buyer's 350 to 399 205 10.595 Active Listings 1.Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Last 12 Months Sales 19 Active Listings 57 Median Price ** $667.993 15 153 -14%      21 Active Listings 58 Median Price ** $465.7 Buyer's 500 to 699 244 9.9 Buyer's 300 to 349 235 12.026.1 12.990     5% -6% 5% 12% Last 12 Months Sales 1.6 Buyer's 700 and more 260 6.Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 289 New Listings 778 Active Listings 1.000 3% $372.0 Buyer's 250 to 299 296 16.819 Volume (in thousands $) 133.704 Median Price $325.5 18.6 25.9 Buyer's 400 to 499 221 8.000 Average Price ** $492.2 26.5 17.3 19.926 Average Days (days) 157      1.821 6% $300.185     5% 1% 19% 10% Table 2 .2 Buyer's Buyer’s market Balanced market Seller’s market Source: QFREB by the Centris® system Inventory (average of the 12 months) Definitions and Explanatory Notes 18 .983 70  -24% 65 Average Days (days) 129 Condominium Fourth Quarter 2014 Sales 249 Active Listings 1.120 6% 1.015 73 22% 59 Average Days (days) 74        6% 27% 0% 47% 21 Past 5 years 4% 21%   -2% 0% 14% 17% 29 Last 12 Months Sales  Past 5 years 35% Last 12 Months 2% Plex Fourth Quarter 2014      Past 5 years -9% 20%   46% Sales (average of the 12 months) Months of Inventory Market Conditions 14% 3% 50% -3 ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .2 42.000 Average Price ** $1.Market Conditions by Price Range Condominium Last 12 Months By category Last 12 Months Price Range ($ thousands) (I) (S) (I)/(S) Less than 250 360 30.945 Volume (in thousands $) 525.000 Average Price $416.Fourth Quarter 2014 Area 10: Ville-Marie List of Areas Table 1.263 New Listings 3.

6 Seller's 250 to 299 98 10.Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 218 New Listings 369 Active Listings 694 Volume (in thousands $) 104.000 Average Price $357.2 Buyer's Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 19 .746 Average Days (days) 104      Sales 52 Active Listings 151 662 -9% 559 0% $330.750 Average Price ** $668.4 Balanced 350 to 399 100 8.675     6% -14% 0% 11% Last 12 Months Sales 873 New Listings 1.4 Balanced 500 and more 91 6.263 28 91      29% 28% 3 Past 5 years -1% 1%   2% 1% 27% 28% 4 Last 12 Months -7%   -4% Last 12 Months 2% Plex Fourth Quarter 2014      Past 5 years -4% 19%   29% Sales (average of the 12 months) Months of Inventory Market Conditions (S) (I)/(S) 9% 9% 32% 1 ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .000 -4% $352.0 15.079     -1% -4% 6% 2% Table 2 .000 17% $692.4 9.1 12.7 9.501 13 Median Price $682.Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Last 12 Months Sales 21 Active Listings 41 Median Price ** $645.966 Active Listings 743 Volume (in thousands $) 377.4 Balanced 300 to 349 98 10.Market Conditions by Price Range Condominium Last 12 Months By category Last 12 Months Buyer’s market Price Range ($ thousands) Inventory (average of the 12 months) (I) Balanced market Less than 250 81 10.3 Buyer's 400 to 499 91 9.Fourth Quarter 2014 Area 11: Le Plateau-Mont-Royal List of Areas Table 1.7 7.3 9.500 Average Price $737.481 Average Days (days) 110      Past 5 years 18% 26% 90      -5% 145 46% 135 17% $651.996 66  -6% 48 Average Days (days) 75 Condominium Fourth Quarter 2014 Sales 145 Active Listings 502 Median Price $338.

7 250 to 299 82 12.8 Balanced 4 66 0% 1% 30% 2 Table 3 .230 Average Days (days) 78        Median Price $490.070   8% 3% 38% 47% 9      Past 5 years -4% -5%   3% 3% 21% 21% -2      Past 5 years 8% 20%   29% Sales (average of the 12 months) Months of Inventory Market Conditions (I) (S) (I)/(S) 118 15.000  Average Price $510.621     3% 4% 15% 12% Last 12 Months Sales 974 New Listings 1.000 Average Price ** $472.Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Last 12 Months Sales 21 Active Listings 44 Median Price ** $422.000 1% $510.798  Average Days (days) 69  ** Insufficient number of transactions to produce reliable statistics Sales Active Listings Evolution of Market Conditions 559 11% 390 5% $285.Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 216 New Listings 383 Active Listings 621 Volume (in thousands $) 87.Market Conditions by Price Range Condominium Last 12 Months Price Range ($ thousands) Balanced market Less than 250 Source: QFREB by the Centris® system 16% Last 12 Months 87 By category Last 12 Months Seller’s market Past 5 years 10% Last 12 Months -11% Plex Fourth Quarter 2014      400 and more Inventory (average of the 12 months) Seller's Definitions and Explanatory Notes 20 .3 Buyer's 71 7.3 9.5 Seller's 300 to 399 119 11.731 -18 84 21% 327 184 25% 174 -4% $496.6 6.500 Average Price $310.Fourth Quarter 2014 Area 12: Rosemont List of Areas Table 1.3 7.685     1% -2% 2% 5% Table 2 .000 8% $304.126 88  11% 44 Average Days (days) 79 Condominium Fourth Quarter 2014 Sales 108 Active Listings 393 Median Price $288.787 Active Listings 608 Volume (in thousands $) 378.5 10.

Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Last 12 Months Sales 17 Active Listings 50 Median Price ** $334.000  Average Price $467.2 Buyer's 225 to 299 97 8.791  Average Days (days) 75  ** Insufficient number of transactions to produce reliable statistics Sales 135      291 21% 232 4% $433.397 -48  Active Listings 233  Median Price $449.846     -1% -4% 15% 12% Last 12 Months Sales 660 New Listings 1.9 13.354 -5 71        9% 9% 34% 46% 21 Past 5 years 4% 3%   7% 5% 28% 23% 15 Last 12 Months 17% Past 5 years 14% 12% 2% 1%   27% Market Conditions 30% -9 Table 3 .527     5% 3% 6% 10% Table 2 .Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 143 New Listings 265 Active Listings 583 Volume (in thousands $) 55.000 Average Price $289.Fourth Quarter 2014 Area 13: Villeray List of Areas Table 1.Market Conditions by Price Range Condominium Last 12 Months By category Last 12 Months Price Range ($ thousands) Buyer’s market Less than 225 Balanced market 3% Last 12 Months -5% Plex Fourth Quarter 2014      Past 5 years -13% Inventory (average of the 12 months) Sales (average of the 12 months) Months of Inventory (I) (S) (I)/(S) 118 8.327 84  2% 49 Average Days (days) 75 Condominium Fourth Quarter 2014 Sales 57 Active Listings 300 Median Price $249.000 13% $267.2 11.000 4% $456.7 12.5 Buyer's Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 21 .000 Average Price ** $363.790 Average Days (days) 109      69 Evolution of Market Conditions 285 13% 298 12% $250.9 Buyer's 300 and more 83 6.399 Active Listings 579 Volume (in thousands $) 239.

733 39% 106 Average Days (days) 84 Condominium Fourth Quarter 2014 Sales 99 Active Listings 591 Median Price $210.299 Average Days (days) 106        Median Price $413.795 -8 131      21% 322 295 27% 278 3% $418.000 7% $436.3 11.000 Average Price $220.500 -6% $223.261 Active Listings 960 Volume (in thousands $) 294.Market Conditions by Price Range Condominium Last 12 Months By category Last 12 Months Price Range ($ thousands) Inventory (average of the 12 months) Buyer’s market Less than 200 Balanced market 275 and more Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 22 .Fourth Quarter 2014 Area 14: Mercier/Hochelaga-Maisonneuve List of Areas Table 1.Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 217 New Listings 485 Active Listings 994 Volume (in thousands $) 70.9 Buyer's 200 to 224 83 7.8 21.6 10.773     -5% 10% 13% -2% Last 12 Months Sales 949 New Listings 2.458 21% Past 5 years -13% -2%   -1% -1% 18% 16% 17 Last 12 Months 94 26% 12 Last 12 Months -13% Plex Fourth Quarter 2014           Past 5 years -10% 15%   28% Sales (average of the 12 months) Months of Inventory Market Conditions (I) (S) (I)/(S) 181 15.3 Buyer's 250 to 274 63 3.500  Average Price $439.996     -13% -2% 5% -12% Table 2 .9 15.738  Average Days (days) 88  ** Insufficient number of transactions to produce reliable statistics Sales Active Listings Evolution of Market Conditions Past 5 years -19% 33%   3% -2% 484 4% 577 -8% $217.8 16.4 Buyer's 144 6.000 Average Price ** $325.Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales Last 12 Months 24 143  Active Listings 108 Median Price ** $330.9 Buyer's 225 to 249 106 6.4 Buyer's 11 82 1% 4% 31% 5 Table 3 .

6 Buyer's 275 and more 78 3.392 1% 7% -4% Table 2 .Fourth Quarter 2014 Area 15: Anjou / Saint-Léonard List of Areas Table 1.3 11.000 6% $548.104 Average Days (days) 104 32% 129 $370.000 Average Price $571.000 11% $393.000 Average Price $240.584     25%     -8% 18% 8% 28% Last 12 Months Sales 501 New Listings 1.676 -19      45 Active Listings 132 Median Price $520.000 3% $238.7 Balanced 225 to 274 50 4.3 Buyer's Balanced market Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 23 .722 Average Days (days) 83 95 182 -4% 193 1% $225.000 Average Price $406.554 1           Past 5 years -3% 26% 111      177 8% 125 0% $525.5 22.806 Average Days (days) 92      51 Active Listings 174 Median Price $229.3 8.Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 31 Active Listings 127 Median Price $415.Market Conditions by Price Range Condominium Last 12 Months By category Last 12 Months Buyer’s market Price Range ($ thousands) Inventory (average of the 12 months) Sales (average of the 12 months) Months of Inventory (I) (S) (I)/(S) Less than 225 64 7.Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 127 New Listings 219 Active Listings 434 Volume (in thousands $) 50.399 -6 95      20% 19% 2 Past 5 years -20% 10%   0% 1% 14% 14% 16 Last 12 Months 18%   3% -2% Last 12 Months 50% Plex Fourth Quarter 2014 Sales 142 22% Condominium Fourth Quarter 2014 Sales Last 12 Months 3% Past 5 years 4% -10% 1% 2%   20% Market Conditions 21% -10 ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .057 Active Listings 446 Volume (in thousands $) 196.

189 Volume (in thousands $) 68.233 Average Days (days) 103      47 Active Listings 390 Median Price $180.000 -5% $185.530 8 101      18% 19% 9 Past 5 years -13% 13%   0% -2% 15% 15% 25 Last 12 Months 12%   -2% Last 12 Months -16% Plex Fourth Quarter 2014 Sales 676 -1% Condominium Fourth Quarter 2014 Sales Last 12 Months -11% Past 5 years 7% 5%   15% Sales (average of the 12 months) Months of Inventory Market Conditions (S) (I)/(S) 3% 3% 18% 5 ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .000 Average Price $183.8 33.Fourth Quarter 2014 Area 16: Eastern Tip of the Island List of Areas Table 1.000 Average Price $379.000 1% $289.000 6% $381.4 Balanced 300 to 399 202 16.366 23           Past 5 years -1% 10% 116      1% 212 1% 247 3% $375.720 9      57 Active Listings 232 Median Price $370.0 12.9 Seller's 250 to 299 139 16.0 4.219 Volume (in thousands $) 331.047 -1% 10% -1% Table 2 .623 Average Days (days) 116 99 293 17% 380 -5% $180.2 Buyer's Balanced market Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 24 .285 Average Days (days) 119 -1% 591 $275.697 Active Listings 1.Market Conditions by Price Range Single-Family Last 12 Months By category Last 12 Months Price Range ($ thousands) Buyer’s market Inventory (average of the 12 months) (I) Less than 250 92 19.596     -8%     -3% -6% 5% -4% Last 12 Months Sales 1.6 8.181 New Listings 2.6 Buyer's 400 and more 158 4.000 Average Price $297.Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 129 Active Listings 567 Median Price $276.Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 233 New Listings 555 Active Listings 1.

174.094 Median Price $285.000 Average Price $316.104 Average Days (days) 128       Active Listings 212  Median Price $444.077 8 104        0% -1% 20% 21% 11 Past 5 years 0% 8%   2% 2% 26% 22% 22 Last 12 Months 19% Past 5 years -22% -1%   22% Sales (average of the 12 months) Months of Inventory Market Conditions (I)/(S) 2% 2% 23% 6 Table 3 .075 Median Price $219.000  Average Price $454.8 8.0 Buyer's 500 and more 391 15.154 119 Balanced market 15%      197 12% 206 15% $419.250 Average Price $243.Summary of Centris ® Activity Click on the sector number in order to access the associated page.381 Volume (in thousands $) 254.581 Active Listings 3. Total Residential Fourth Quarter 2014 Sales 833 New Listings 1.815 Active Listings 3.463 Volume (in thousands $) 1.831 12% 2.Fourth Quarter 2014 Laval List of Areas Table 1.929 New Listings 8.699 4% 12% -2% Table 2 .432 10 Condominium Fourth Quarter 2014 Sales 198 Active Listings 1.2 250 to 299 435 65.189  Average Days (days) 113  ** Insufficient number of transactions to produce reliable statistics 901 8% 1.2 25.500 15% $425.6 Seller's 300 to 349 347 42.346 Average Days (days) 88      2.Market Conditions by Price Range Single-Family Last 12 Months By category Last 12 Months Buyer’s market      Past 5 years 1% Last 12 Months 29 50 Evolution of Market Conditions 84 14% Plex Fourth Quarter 2014 Sales Last 12 Months 9% Price Range ($ thousands) Inventory (average of the 12 months) (I) (S) Less than 250 342 65.000 0% $314.4 5.000 9% $228.Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 585 Active Listings 2.0 13.125 -2% $289.8 Buyer's Seller's Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 25 .633     11%     -1% 7% 11% 14% Last 12 Months Sales 3.6 6.132 2% $215.1 Balanced 350 to 499 610 47.

000 -2% $316.000 20% $434.0 Balanced 350 to 449 117 8.7 6.605 10 95      20% 22% 16 Past 5 years 5% 1%   2% 2% 26% 23% 27 Last 12 Months 36   0% Last 12 Months 33   Median Price $446.537 0% 2% 1% Table 2 .Market Conditions by Price Range Single-Family Last 12 Months By category Last 12 Months Price Range ($ thousands) Inventory (average of the 12 months) Buyer’s market (I) Balanced market Less than 250 46 10.295     16%     2% 8% 5% 22% Last 12 Months Sales 1.902 125      -1% 33% 139 132 11% 128 14% $429.963 Active Listings 1.6 Seller's 300 to 349 107 10.000 10% $235.649 Average Days (days) 136 8% 447 $295.9 Buyer's 450 and more Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 26 .8 13.235 Volume (in thousands $) 386.3 Seller's 250 to 274 30 8.500  Average Price $468.583 1      Evolution of Market Conditions      Past 5 years 1% 6% 538 3% 660 3% $215.0 3.3 Buyer's 83 4.527  Average Days (days) 109  ** Insufficient number of transactions to produce reliable statistics Active Listings 83 18% Plex Fourth Quarter 2014 Sales 630 -1% Condominium Fourth Quarter 2014 Sales Last 12 Months 10% Past 5 years -10% -3%   24% Sales (average of the 12 months) Months of Inventory Market Conditions (S) (I)/(S) 3% 4% 26% 6 Table 3 .Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 130 Active Listings 446 Median Price $292.500 Average Price $316.7 17.Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 291 New Listings 633 Active Listings 1.8 Seller's 275 to 299 64 9.000 Average Price $250.130 Average Days (days) 82      125 Active Listings 618 Median Price $219.8 4.7 10.Fourth Quarter 2014 Area 17: Downtown Laval List of Areas Table 1.307 New Listings 2.196 Volume (in thousands $) 89.

836 16% 100 Average Days (days) 100 Plex Fourth Quarter 2014 Sales 18%   0% -3% 17% 17% 2      Past 5 years 9% 30%   7% 11% 28% 6% -1 Last 12 Months 1 Active Listings Past 5 years -1% Last 12 Months 9       Past 5 years 2 6 5 Median Price ** ** Average Price ** ** Average Days (days) ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .8 4.821 3 Condominium Fourth Quarter 2014 Sales Last 12 Months 50% 95 49 Active Listings 81 Median Price ** $245.Market Conditions by Price Range Single-Family Last 12 Months By category Last 12 Months Price Range ($ thousands) Inventory (average of the 12 months) Sales (average of the 12 months) Months of Inventory (I) (S) (I)/(S) Market Conditions Buyer’s market Balanced market Less than 275 26 5.6 275 to 349 55 7.500 16% $389.2 7.368 Average Days (days) 88      320 12% 315 15% $356.000 Average Price ** $256.7 Seller's 350 to 449 98 8.1 12.409     -2% 12% 21% -5% Table 2 .1 Buyer's 137 5.Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 82 New Listings 184 Active Listings 384 Volume (in thousands $) 32.Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 72 Active Listings 297 Median Price $386.983     39% 29% 13% 61% Last 12 Months Sales 371 New Listings 949 Active Listings 420 Volume (in thousands $) 138.7 24.1 Buyer's 450 and more Seller's Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 27 .000 Average Price $419.Fourth Quarter 2014 Area 18: Sainte-Dorothée List of Areas Table 1.

548     9% 11% 11% 4% Last 12 Months Sales 1.886     4% 9% 15% 3% Table 2 .5 Buyer's 450 and more 118 5.0 Seller's 350 to 449 134 11.700 -4% $313.6 6.700 Average Price $312.022 Average Days (days) 76      832 14% 529 -3% $294.8 20.1 Seller's 250 to 274 46 9.455 -2 Condominium Fourth Quarter 2014 Sales Last 12 Months 10% 74 156 Active Listings 173 Median Price ** $193.Market Conditions by Price Range Single-Family Last 12 Months By category Last 12 Months Buyer’s market Balanced market Seller’s market Source: QFREB by the Centris® system Price Range ($ thousands) Inventory (average of the 12 months) Sales (average of the 12 months) Months of Inventory (I) (S) (I)/(S) Market Conditions Less than 225 22 7.573 6% 173 Average Days (days) 117 Plex Fourth Quarter 2014 Sales 18%      0% 24% 24% 6 Past 5 years 2% 13%   -4% -3% 17% 17% 36 Last 12 Months 6   2% Last 12 Months 29       Past 5 years 7% Past 5 years 23  Active Listings 35 Median Price ** ** Average Price ** ** 1% 31  -11% Average Days (days) ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .7 Seller's 275 to 299 79 10.996 Active Listings 733 Volume (in thousands $) 302.7 11.011 New Listings 1.1 Seller's 225 to 249 35 8.7 7.2 3.Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 195 New Listings 448 Active Listings 736 Volume (in thousands $) 58.6 4.8 4.Fourth Quarter 2014 Area 19: Sainte-Rose/Auteuil/Vimont List of Areas Table 1.2 Buyer's Definitions and Explanatory Notes 28 .Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 160 Active Listings 528 Median Price $284.4 Seller's 300 to 349 94 15.750 Average Price ** $201.

755 38 Condominium Fourth Quarter 2014 97 14 Active Listings 75 Median Price ** $222.7 10.500 Average Price ** $239.2 5.688 Average Days (days) 123      Last 12 Months -8% 272 24% 249 -10% $330.8 Buyer's 400 and more Balanced market Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 29 .Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 71 New Listings 163 Active Listings 328 Volume (in thousands $) 23.000 0% $368.000 Average Price $368.Market Conditions by Price Range Single-Family Last 12 Months By category Last 12 Months Buyer’s market Price Range ($ thousands) Inventory (average of the 12 months) Sales (average of the 12 months) Months of Inventory (I) (S) (I)/(S) Market Conditions Less than 300 51 9.510 61 27% 75 Average Days (days) 123 Plex Fourth Quarter 2014 Sales 27%        0% -2% 22% 21% 16 Past 5 years -2% 29%   2% 9% 14% 16% -6 Last 12 Months 1 Active Listings Past 5 years -1% Last 12 Months Sales       Past 5 years 3 3 5 Median Price ** ** Average Price ** ** Average Days (days) ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .Fourth Quarter 2014 Area 20: Duvernay List of Areas Table 1.5 Seller's 300 to 399 77 7.0 Balanced 122 5.Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 56 Active Listings 250 Median Price $310.508     -3% 3% 25% -5% Last 12 Months Sales 336 New Listings 774 Active Listings 328 Volume (in thousands $) 114.553     -2% 8% 27% -4% Table 2 .8 20.

561     10%     -3% 0% 8% 12% Last 12 Months Sales 631 New Listings 1.Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 136 New Listings 259 Active Listings 444 Volume (in thousands $) 34.1 8.Market Conditions by Price Range Single-Family Last 12 Months By category Last 12 Months Buyer’s market Balanced market Price Range ($ thousands) Inventory (average of the 12 months) Sales (average of the 12 months) Months of Inventory (I) (S) (I)/(S) Market Conditions Less than 200 52 8.5 Seller's Seller's 250 to 299 89 11.Fourth Quarter 2014 Area 21: Fabreville List of Areas Table 1.8 5.Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 116 Active Listings 359 Median Price $247.226 Active Listings 464 Volume (in thousands $) 160.000 Average Price ** $199.000 -1% $264.534 -3% 12% -5% Table 2 .0 Balanced 300 to 399 79 9.6 27.2 6.5 8.447 Average Days (days) 92      Last 12 Months 8% 541 10% 366 3% $253.153 77 -4% 85 Average Days (days) 95 Plex Fourth Quarter 2014 Sales Past 5 years 0% 13%      13 Active Listings 13 13 Median Price ** ** Average Price ** ** 16% 17% 16 Past 5 years -25% 8%   -3% -4% 30% 27% -1 Last 12 Months 3   1% -2% Last 12 Months Sales       Past 5 years Average Days (days) ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .766 16 Condominium Fourth Quarter 2014 85 17 Active Listings 72 Median Price ** $207.4 Buyer's Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 30 .000 Average Price $260.4 Balanced 400 and more 71 2.3 200 to 249 75 13.

706 Average Days (days) 98      236 10% 219 -6% $245.000 -7% $259.738     -13%     -18% -14% 21% -15% Last 12 Months Sales 273 New Listings 673 Active Listings 282 Volume (in thousands $) 71.781 4% 16% -18% Table 2 .3 Buyer's 250 and more Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 31 .3 Seller's 225 to 249 43 3.Fourth Quarter 2014 Area 22: Saint-François/Saint-Vincent List of Areas Table 1.Market Conditions by Price Range Single-Family Last 12 Months By category Last 12 Months Buyer’s market Balanced market Price Range ($ thousands) Inventory (average of the 12 months) Sales (average of the 12 months) Months of Inventory (I) (S) (I)/(S) Market Conditions Less than 225 36 6.Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 51 Active Listings 214 Median Price $240.998 29 Condominium Fourth Quarter 2014 Sales Last 12 Months -12% 94      Past 5 years -15% 16% 0% 20% 21% 19 Last 12 Months 4   -2% Past 5 years 20  Active Listings 55 Median Price ** ** Average Price ** ** 39  31% Average Days (days) Plex Fourth Quarter 2014 Sales Last 12 Months 3 17 Active Listings 24 24 Median Price ** ** Average Price ** ** Past 5 years Average Days (days) ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .5 Buyer's 140 9.000 Average Price $258.8 5.8 11.Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 58 New Listings 128 Active Listings 293 Volume (in thousands $) 15.2 15.

Fourth Quarter 2014 North Shore List of Areas Table 1.130 109.671 Active Listings 7.000 5% $344.556     1% -1% 12% 2% Last 12 Months Sales 8.159 New Listings 17.759 Median Price $182.069.9 7.209 Average Days (days) 135 5.Market Conditions by Price Range Single-Family Last 12 Months By category Last 12 Months Price Range ($ thousands) Buyer’s market Inventory (average of the 12 months) (I) Less than 200 Balanced market 864 132.9 13.593 11% Condominium Fourth Quarter 2014 Sales Last 12 Months -1% Past 5 years 1% 14%   23% Sales (average of the 12 months) Months of Inventory Market Conditions (S) (I)/(S) 10% 9% 22% 11 ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .4 Buyer's 300 to 399 1.765 4% $178.002 Volume (in thousands $) 405.089     -3% 2% 13% -2% Table 2 .6 Buyer's 500 and more 680 16.8 Seller's Seller's 250 to 299 1.7 Buyer's 400 to 499 543 25.338 171.0 10.982 Volume (in thousands $) 2.054 Average Days (days) 100      236 Active Listings 1. Total Residential Fourth Quarter 2014 Sales 1.586 New Listings 3.3 6.500 Average Price $261.5 200 to 249 1.815 3      74 Active Listings 344 Median Price $350.582 Average Days (days) 105 98 1.000 8% $188.Summary of Centris ® Activity Click on the sector number in order to access the associated page.272 Active Listings 5.754 Active Listings 8.000 Average Price $337.3 41.853 0% $240.299 94.052 25           Past 5 years -4% 12% 129      0% 311 22% 324 13% $353.1 21.000 0% $261.857 Median Price $239.427 15 106      17% 16% 6 Past 5 years -4% 16%   2% 2% 19% 20% 19 Last 12 Months 9%   1% Last 12 Months 9% Plex Fourth Quarter 2014 Sales 6.9 Buyer's Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 32 .Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 1.233 11% 1.500 Average Price $202.

000 2% $242.750 Average Price $233.000 Average Price $174.3 9.927 2 100      3% 19% 21% 6 Past 5 years -16% 22%   1% -1% 15% 12% 7 Last 12 Months 7   1% Last 12 Months 6% Plex Fourth Quarter 2014 Sales 978 12% Condominium Fourth Quarter 2014 Sales Last 12 Months 7% Past 5 years 21  Active Listings 32 Median Price ** ** Average Price ** ** 50% 26 Average Days (days) ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .726 Average Days (days) 83      33 Active Listings 177 Median Price $173.6 8.3 Seller's 175 to 199 61 7.0 Balanced 200 to 224 60 14.Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 233 New Listings 435 Active Listings 881 Volume (in thousands $) 53.7 4.1 16.9 Buyer's Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 33 .Fourth Quarter 2014 Area 23: West of the North Shore List of Areas Table 1.344 -9      88      Past 5 years -4% 13% 151 -4% 187 2% $175.850     -6% 5% 13% -4% Table 2 .0 5.871 Average Days (days) 113 685 2% $230.0 Balanced 300 and more 238 14.0 Seller's 250 to 299 156 17.908     6% -2% 10% 7% Last 12 Months Sales 1.Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 192 Active Listings 663 Median Price $223.1 Seller's 225 to 249 97 13.153 New Listings 2.8 7.261 Active Listings 905 Volume (in thousands $) 271.Market Conditions by Price Range Single-Family Last 12 Months By category Last 12 Months Price Range ($ thousands) Buyer’s market Balanced market Inventory (average of the 12 months) (I) Sales (average of the 12 months) Months of Inventory (S) (I)/(S) Market Conditions Less than 175 74 14.000 -3% $175.

000 Average Price $259.Market Conditions by Price Range Single-Family Last 12 Months By category Last 12 Months Buyer’s market Price Range ($ thousands) Less than 250 250 to 299 300 and more Inventory (average of the 12 months) Sales (average of the 12 months) Months of Inventory Market Conditions (I) (S) (I)/(S) 128 17.Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 65 Active Listings 395 Median Price $253.853     -3% -28% 12% -7% Last 12 Months Sales 565 New Listings 1.2 19.3 Seller's 99 11.7 Balanced 182 9.Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 85 New Listings 236 Active Listings 571 Volume (in thousands $) 21.4 8.463     9% 0% 27% 9% Table 2 .925 Average Days (days) 92      459 3% 410 1% $254.951 -8 Condominium Fourth Quarter 2014 Sales Last 12 Months -19% 101 67 Active Listings 143 Median Price ** $211.8 Buyer's Balanced market Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 34 .500 -4% $258.Fourth Quarter 2014 Area 24: Mirabel List of Areas Table 1.7 7.000 Average Price ** $203.160 Active Listings 600 Volume (in thousands $) 146.390 71% 153 Average Days (days) 170 Plex Fourth Quarter 2014 Sales Past 5 years 0% 15%      0% 27 Active Listings 23 25 Median Price ** ** Average Price ** ** 19% 17% 9 Past 5 years 76% 81%   6% 5% 29% 25% 67 Last 12 Months 3   2% Last 12 Months 14       Past 5 years Average Days (days) ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .

841 50 66% 38 Average Days (days) 70        2% 1% 15% 16% 2 Past 5 years 16% 21%   -5% -3% 18% 22% 43 Last 12 Months Sales  Past 5 years 13% Last 12 Months 27       Past 5 years 0% 29%   35% Sales (average of the 12 months) Months of Inventory Market Conditions (S) (I)/(S) 15% 10% 26% -23 ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .450 Average Price ** $355.000 Average Price ** $210.062 1 Condominium Fourth Quarter 2014 Sales Last 12 Months 13% 83 159 Active Listings 189 Median Price ** $193.Fourth Quarter 2014 Area 25: Boisbriand/Sainte-Thérèse List of Areas Table 1.6 10.Market Conditions by Price Range Single-Family Last 12 Months By category Last 12 Months Price Range ($ thousands) Buyer’s market Inventory (average of the 12 months) (I) Less than 250 59 13.3 250 to 299 54 7.000 Average Price $275.091 Active Listings 467 Volume (in thousands $) 157.8 Seller's 112 10.9 6.772     9% 4% 6% 20% Last 12 Months Sales 595 New Listings 1.555 Average Days (days) 80      386 3% 224 3% $259.Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 77 Active Listings 228 Median Price $258.250 9% $276.Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 118 New Listings 238 Active Listings 459 Volume (in thousands $) 31.5 Buyer's 300 and more Seller's Balanced market Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 35 .7 4.775     13% 0% 12% 14% Table 2 .206 1% 205 Average Days (days) 147 Plex Fourth Quarter 2014 3%      14 Active Listings 42 Median Price ** $379.

Fourth Quarter 2014 Area 26: Blainville List of Areas Table 1.Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 170 Active Listings 828 Median Price $311.Market Conditions by Price Range Single-Family Last 12 Months By category Last 12 Months Buyer’s market Price Range ($ thousands) Inventory (average of the 12 months) (I) Sales (average of the 12 months) Months of Inventory (S) (I)/(S) Market Conditions Less than 250 81 17.3 17.107     6% 11% 22% 2% Table 2 .450 Average Price ** $255.950     21% -3% 24% 16% Last 12 Months Sales 942 New Listings 2.4 6.7 Seller's Seller's 300 to 399 194 20.250 Average Price $354.292 Average Days (days) 113      828 14% 834 -5% $315.7 Balanced 400 to 499 144 8.0 9.7 250 to 299 90 13.0 32.Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 204 New Listings 423 Active Listings 1.3 4.336 134 Average Days (days) 107 Sales Past 5 years 5% 16%      -6% 20 Active Listings 12 14 Median Price ** ** Average Price ** ** 13% 10% 3 Past 5 years 29% 82%   6% 24% 15% 30% 1 Last 12 Months 5   -2% Last 12 Months 29 Plex Fourth Quarter 2014      Past 5 years Average Days (days) ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .139 Active Listings 982 Volume (in thousands $) 324.4 Buyer's 500 and more 325 10.121 14 Condominium Fourth Quarter 2014 Sales Last 12 Months 13% 103 94  Active Listings 173 Median Price ** $214.5 Buyer's Balanced market Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 36 .013 Volume (in thousands $) 70.000 -6% $353.

Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 306 New Listings 782 Active Listings 1.633 -2% 43        0% 0% 17% 19% 6 Past 5 years -22% -13%   -2% -3% 16% 18% 17 Last 12 Months 9       Last 12 Months -36% Plex Fourth Quarter 2014 Sales 1.3 27.346 6      91 253 -14% 341 2% $176.487 Volume (in thousands $) 417.729 Average Days (days) 162 1.7 13.669 New Listings 3.0 Balanced 300 to 399 268 19.Fourth Quarter 2014 Area 27: Terrebonne List of Areas Table 1.845     -8%     -9% 6% 8% -7% Last 12 Months Sales 1.000 Average Price ** $395.5 5.6 200 to 224 98 15.511 Volume (in thousands $) 77.Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 258 Active Listings 1.523 -3% $183.6 Buyer's 400 and more 203 7.7 Buyer's Average Days (days) 121 11% 17% 37% 25 ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .096 -2% $240.3 Seller's 225 to 249 158 19.2 9.8 8.368 16% Condominium Fourth Quarter 2014 Sales Last 12 Months 0% Past 5 years -2% -4%   26% Sales (average of the 12 months) Months of Inventory Market Conditions (I) (S) (I)/(S) 160 28.154 Average Days (days) 95      39 Active Listings 314 Median Price $181.147 Median Price $242.5 6.620 -4% 3% -8% Table 2 .384 Active Listings 1.Market Conditions by Price Range Single-Family Last 12 Months By category Last 12 Months Price Range ($ thousands) Buyer’s market Less than 200 Balanced market Inventory (average of the 12 months) Seller's Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 37 .000 Average Price $263.045 42 148 Past 5 years -6% 10%      46 Active Listings 44 Median Price ** $356.000 1% $258.0 Balanced 250 to 299 208 23.924 Average Price $185.

250 Average Price ** $182.0 7.6 Seller's 250 to 299 70 6.831     15% 9% 20% 13% Last 12 Months Sales 566 New Listings 1.561 35% 149 Average Days (days) 113 Plex Fourth Quarter 2014 Sales Past 5 years -1% 14%      0% 13 Active Listings 12 13 Median Price ** ** Average Price ** ** 20% 21% 8 Past 5 years 9% 35%   1% 0% 15% 16% 0 Last 12 Months 4   0% Last 12 Months 17       Past 5 years Average Days (days) ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .Fourth Quarter 2014 Area 28: Mascouche List of Areas Table 1.1 200 to 249 99 13.5 Buyer's 300 and more Seller's Balanced market Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 38 .000 1% $265.2 5.6 Buyer's 158 9.6 10.653 35 Condominium Fourth Quarter 2014 Sales Last 12 Months 12% 96 116 Active Listings 161 Median Price ** $179.Market Conditions by Price Range Single-Family Last 12 Months By category Last 12 Months Buyer’s market Price Range ($ thousands) Inventory (average of the 12 months) Sales (average of the 12 months) Months of Inventory (I) (S) (I)/(S) Market Conditions Less than 200 37 7.6 16.250 Average Price $260.621 Average Days (days) 122      436 13% 363 3% $240.Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 107 New Listings 279 Active Listings 557 Volume (in thousands $) 26.425     1% 12% 20% 1% Table 2 .240 Active Listings 528 Volume (in thousands $) 143.Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 86 Active Listings 380 Median Price $233.

5 200 to 224 42 8.Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 134 Active Listings 632 Median Price $249.3 4.5 Balanced 250 to 299 156 16.6 Balanced 300 to 349 101 7.1 8.147 -3% 10% -15% Table 2 .325 Average Days (days) 136 7% 637 $250.0 Buyer's Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 39 .3 9.299 12      100      Past 5 years -15% 9% 206 4% 299 13% $178.Market Conditions by Price Range Single-Family Last 12 Months By category Last 12 Months Price Range ($ thousands) Buyer’s market Balanced market Inventory (average of the 12 months) Sales (average of the 12 months) Months of Inventory (I) (S) (I)/(S) Market Conditions Less than 200 33 7.000 Average Price $263.500 Average Price $212.500 13% $188.8 Buyer's 350 and more 193 6.175 Average Days (days) 101      47 Active Listings 303 Median Price $189.7 Seller's Seller's 225 to 249 111 13.Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 184 New Listings 486 Active Listings 959 Volume (in thousands $) 46.9 4.121 Active Listings 958 Volume (in thousands $) 236.7 29.451     -1%     -16% -6% 6% -6% Last 12 Months Sales 940 New Listings 2.000 -6% $266.3 13.Fourth Quarter 2014 Area 29: Repentigny List of Areas Table 1.708 40 130      -1% 19 Active Listings 24 22 Median Price ** ** Average Price ** ** 18% 19% 10 Past 5 years -18% 12%   6% 7% 23% 22% 24 Last 12 Months 3   1% Last 12 Months 42% Plex Fourth Quarter 2014 Sales 715 -2% Condominium Fourth Quarter 2014 Sales Last 12 Months -9% Past 5 years Average Days (days) ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .

950 Average Price $212.489 Active Listings 749 Volume (in thousands $) 130.000 -3% $215.Fourth Quarter 2014 Area 30: East of the North Shore List of Areas Table 1.5 12.871 1% 8% -6% Table 2 .4 Buyer's 200 to 249 213 15.592 Average Days (days) 104      546 6% 636 -4% $204.640 -12 Condominium Fourth Quarter 2014 Sales Last 12 Months -19% 116 33 Active Listings 83 Median Price ** $165.5 Buyer's Balanced market Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 40 .Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 107 New Listings 305 Active Listings 755 Volume (in thousands $) 22.000 Average Price ** $163.Market Conditions by Price Range Single-Family Last 12 Months By category Last 12 Months Price Range ($ thousands) Inventory (average of the 12 months) (I) Buyer’s market Less than 175 Sales (average of the 12 months) Months of Inventory (S) (I)/(S) Market Conditions 73 11.095 25% 78 Average Days (days) 106 Plex Fourth Quarter 2014 Sales Past 5 years -6% 7%      0% 19% 19% 4 Past 5 years -34% 13%   8% 5% 25% 21% 7 Last 12 Months 2   1% Last 12 Months 7       Past 5 years 25  Active Listings 33 Median Price ** ** Average Price ** ** 16% 29 Average Days (days) ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .9 6.8 26.404     -23%     -8% 2% 8% -26% Last 12 Months Sales 606 New Listings 1.9 Buyer's 250 and more 232 8.1 Seller's 175 to 199 118 9.Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 98 Active Listings 634 Median Price $199.3 13.

123 New Listings 2.799 -5 Condominium Fourth Quarter 2014 Sales Last 12 Months -3% 107 154 Active Listings 217 Median Price ** $140.Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 192 Active Listings 950 Median Price $210.8 Buyer's 250 to 299 188 8.9 10.035 Average Days (days) 110      877 14% 969 5% $212.9 8.296 Volume (in thousands $) 53.5 Buyer's 300 and more 281 9.8 Balanced 200 to 249 257 23.606 38% 114 Average Days (days) 102        3% 2% 18% 16% 6 Past 5 years 32% 5%   -3% -2% 10% 12% 16 Last 12 Months 27  Past 5 years -3% Last 12 Months 23       Past 5 years -3% 18%   10% Sales (average of the 12 months) Months of Inventory Market Conditions (I)/(S) 1% 4% 12% 5 ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 242 New Listings 570 Active Listings 1.750 Average Price ** $269.000 Average Price $221.2 Buyer's Balanced market Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 41 .Market Conditions by Price Range Single-Family Last 12 Months By category Last 12 Months Price Range ($ thousands) Buyer’s market Inventory (average of the 12 months) (I) (S) Less than 175 119 17.8 21.786 Active Listings 1.000 2% $220.542     2% 8% 13% 5% Last 12 Months Sales 1.307 Volume (in thousands $) 240.832     1% 7% 13% 2% Table 2 .5 6.8 Seller's 175 to 199 123 13.Fourth Quarter 2014 Area 31: Saint-Jérôme List of Areas Table 1.124 2% 219 Average Days (days) 122 Plex Fourth Quarter 2014 Sales 14%      90 Active Listings 122 Median Price ** $250.0 31.000 Average Price ** $146.

433 3% $268.129 Average Days (days) 102      48 Active Listings 280 Median Price $183.8 18. Total Residential Fourth Quarter 2014 Sales 352 New Listings 770 Active Listings 1.000 Average Price $306.4 7.6 Seller's 250 to 299 254 30.Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 301 Active Listings 1.812 New Listings 3.7 Buyer's 500 and more 281 7.8 Buyer's 400 to 499 201 10.782 -9      106 243 -14% 308 9% $179.3 Balanced 300 to 349 200 17.3 38.5 200 to 249 213 32.Fourth Quarter 2014 Vaudreuil-Soulanges List of Areas Table 1.5 11.158 -22% 33 Average Days (days) 124        -1% -1% 19% 16% 6 Past 5 years -5% -9%   2% 2% 11% 13% 11 Last 12 Months 2       Last 12 Months -13% Plex Fourth Quarter 2014 Sales 1.865 Active Listings 1.500 5% $184.Market Conditions by Price Range Single-Family Last 12 Months By category Last 12 Months Price Range ($ thousands) Buyer’s market Balanced market Seller’s market Source: QFREB by the Centris® system Inventory (average of the 12 months) (I) (S) Less than 200 131 17.4 Buyer's 350 to 399 154 12.149 Average Days (days) 163 1.362 Average Price $184.649 Volume (in thousands $) 102.3 6.535 2% Condominium Fourth Quarter 2014 Sales Last 12 Months -10% Past 5 years 23% -26%   -11% Sales (average of the 12 months) Months of Inventory Market Conditions (I)/(S) -9% -4% -1% 23 ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .Summary of Centris ® Activity Click on the sector number in order to access the associated page.7 Buyer's Seller's Definitions and Explanatory Notes 42 .987 -3% 2% -1% Table 2 .189     -11%     -1% -4% -2% -9% Last 12 Months Sales 1.7 8.792 Volume (in thousands $) 509.500 Average Price ** $266.0 12.960 9 146 Past 5 years 0% 5%      32 Active Listings 33 Median Price ** $241.000 2% $296.318 Median Price $278.

1 Buyer's 400 and more Seller's Balanced market Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 43 .2 Seller's 300 to 399 73 7.041 Active Listings 410 Volume (in thousands $) 139.185 Average Days (days) 97      Last 12 Months -9% 421 6% 314 3% $260.8 Balanced 113 4.068     6%     -1% 9% 7% 7% Last 12 Months Sales 509 New Listings 1.5 25.765 -3% 5% -2% Table 2 .378 6 Condominium Fourth Quarter 2014 85 25 Active Listings 75 Median Price ** $195.Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 122 New Listings 208 Active Listings 376 Volume (in thousands $) 34.049 73 6% 84 Average Days (days) 115 Plex Fourth Quarter 2014 Sales 2%      -1% 15 Active Listings 12 12 Median Price ** ** Average Price ** ** 18% 21% 0 Past 5 years 14% 17%   -1% 4% 15% 15% 8 Last 12 Months 2   -3% Last 12 Months Sales       Past 5 years -3% Past 5 years Average Days (days) ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 95 Active Listings 289 Median Price $267.9 7.Fourth Quarter 2014 Area 32: Île-Perrot List of Areas Table 1.000 Average Price $301.7 250 to 299 57 7.Market Conditions by Price Range Single-Family Last 12 Months By category Last 12 Months Buyer’s market Price Range ($ thousands) Inventory (average of the 12 months) (I) Sales (average of the 12 months) Months of Inventory (S) (I)/(S) Market Conditions Less than 250 71 15.4 9.000 5% $288.000 Average Price ** $200.3 4.

911 -12% 111 Average Days (days) 123 Plex Fourth Quarter 2014 Sales 1%        1% 3% 23% 22% 5 Past 5 years -13% 1%   -1% 0% 12% 15% -4 Last 12 Months 0 Active Listings Past 5 years 16% Last 12 Months 18       Past 5 years 6 3 3 Median Price ** ** Average Price ** ** Average Days (days) ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .934 -21 Condominium Fourth Quarter 2014 Sales Last 12 Months 11% 84 109 Active Listings 102 Median Price ** $168.Fourth Quarter2013 2014 1er trimestre Area 33: Vaudreuil-Dorion List of Areas Table 1.3 250 to 299 61 11.3 5.500 Average Price ** $176.Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 88 Active Listings 189 Median Price $287.3 4.3 10.9 Buyer's 300 and more Seller's Balanced market Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 44 .000 3% $296.4 Seller's 123 11.870 Average Days (days) 77      394 -15% 228 5% $270.500 Average Price $304.788     8% -10% 0% 13% Table 2 .Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 106 New Listings 165 Active Listings 293 Volume (in thousands $) 29.579     0% -17% -15% 6% Last 12 Months Sales 509 New Listings 862 Active Listings 343 Volume (in thousands $) 137.Market Conditions by Price Range Single-Family Last 12 Months By category Last 12 Months Price Range ($ thousands) Buyer’s market Inventory (average of the 12 months) (I) Sales (average of the 12 months) Months of Inventory (S) (I)/(S) Market Conditions Less than 250 44 10.

Fourth Quarter2013 2014 1er trimestre Area 34: Soulanges South List of Areas Table 1.227 Average Price ** $172.Market Conditions by Price Range Single-Family Last 12 Months By category Last 12 Months Price Range ($ thousands) Inventory (average of the 12 months) (I) Buyer’s market Less than 200 Sales (average of the 12 months) Months of Inventory (S) (I)/(S) Market Conditions 94 10.7 26.000 -6% $228.1 Buyer's Balanced market Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 45 .6 Balanced 200 to 249 110 8.181 0% 0% -1% Table 2 .053 1 Condominium Fourth Quarter 2014 Sales Last 12 Months -32% 138 46 Active Listings 79 Median Price ** $165.721     -40%     -1% 1% -1% -41% Last 12 Months Sales 391 New Listings 931 Active Listings 540 Volume (in thousands $) 87.000 Average Price $233.0 Buyer's 250 and more 226 8.9 8.229 Average Days (days) 139      337 10% 431 1% $215.475 -33% 90 Average Days (days) 272 Plex Fourth Quarter 2014 Sales Past 5 years -1% 12%      -1% 8 Active Listings 16 16 Median Price ** ** Average Price ** ** 13% 14% 19 Past 5 years -2% -30%   -2% 1% 24% 32% 61 Last 12 Months 0   -2% Last 12 Months 4       Past 5 years Average Days (days) ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .5 13.Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 51 New Listings 218 Active Listings 527 Volume (in thousands $) 11.Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 47 Active Listings 430 Median Price $225.

000 -3% $366.3 9.8 15.9 41.252 2% 3% -12% Table 2 .031 Active Listings 500 Volume (in thousands $) 145.0 6.Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 73 New Listings 179 Active Listings 452 Volume (in thousands $) 26.6 Buyer's Balanced market Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 46 .000 Average Price $362.Market Conditions by Price Range Single-Family Last 12 Months By category Last 12 Months Price Range ($ thousands) Inventory (average of the 12 months) (I) Buyer’s market Sales (average of the 12 months) Months of Inventory (S) (I)/(S) Market Conditions Less than 300 76 11.2 Buyer's 500 and more 163 3.336 -10 Condominium Fourth Quarter 2014 Sales Last 12 Months -12% 122      Past 5 years -9% 3% -3% 15 Active Listings 24 22 Median Price ** ** Average Price ** ** 19% 14% 5 Last 12 Months 1   -1% Past 5 years Average Days (days) Plex Fourth Quarter 2014 Sales Last 12 Months 0 Active Listings Past 5 years 3 2 1 Median Price ** ** Average Price ** ** Average Days (days) ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 71 Active Listings 410 Median Price $340.4 Balanced 350 to 499 164 10.Fourth Quarter2013 2014 1er trimestre Area 35: Saint-Lazare/Hudson List of Areas Table 1.9 Seller's 300 to 349 59 6.821     -17%     -9% -11% 1% -17% Last 12 Months Sales 403 New Listings 1.562 Average Days (days) 116      383 0% 461 -3% $335.

Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 1.172 Median Price $190.483 Average Days (days) 117 4.083 -1% 7% -1% Table 2 .Market Conditions by Price Range Single-Family Last 12 Months By category Last 12 Months Buyer’s market      Last 12 Months 13   Median Price $330. Total Residential Fourth Quarter 2014 Sales 1.928 New Listings 16.Summary of Centris ® Activity Click on the sector number in order to access the associated page.500  Average Price $339.106 Median Price $275.000 Average Price $319.390 Active Listings 6.581 New Listings 3.664 Volume (in thousands $) 462.1 Seller's 250 to 299 892 106.000 Average Price $207.4 13.239 Active Listings 6.524 7      Evolution of Market Conditions 1.889 Volume (in thousands $) 2.000 -4% $347.6 6.274.221 Average Days (days) 96      367 Active Listings 2.0 Balanced 400 to 499 502 38.3 10.900 6% $312.2 8.954 5% 2.513     1%     -4% 5% 6% 5% Last 12 Months Sales 7.1 Buyer's 500 and more 761 37.256 37 109        2% 3% 20% 21% 7 Past 5 years -8% 8%   0% 1% 15% 17% 12 Last 12 Months 90 Past 5 years -8% 11%   10% Sales (average of the 12 months) Months of Inventory Market Conditions (I)/(S) 1% -1% 13% 14 Table 3 .422 0% $209.271 4% $274.059 106.4 Balanced 300 to 399 1.163 118 Balanced market Past 5 years -2% 6%      3% 350 376 16% 369 -1% $340.9 5.9 20.Fourth Quarter 2014 South Shore List of Areas Table 1.240 -2% $192.757  Average Days (days) 107  ** Insufficient number of transactions to produce reliable statistics Active Listings 93 -2% Plex Fourth Quarter 2014 Sales 5.5 200 to 249 708 115.123 Active Listings 4.619 6% Condominium Fourth Quarter 2014 Sales Last 12 Months 2% Price Range ($ thousands) Inventory (average of the 12 months) (I) (S) Less than 200 350 63.1 Buyer's Seller's Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 47 .

2 Buyer's 300 and more 172 9.Fourth Quarter 2014 Area 36: Châteauguay List of Areas Table 1.000 Average Price $242.319 Average Days (days) 105      720 6% 618 -1% $217.199     -6% -1% 13% -5% Table 2 .000 5% $234.1 Seller's 200 to 249 189 19.Market Conditions by Price Range Single-Family Last 12 Months By category Last 12 Months Price Range ($ thousands) Inventory (average of the 12 months) Sales (average of the 12 months) Months of Inventory (I)/(S) Market Conditions Buyer’s market (I) (S) Less than 200 138 22.7 6.3 18.Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 155 New Listings 349 Active Listings 805 Volume (in thousands $) 35.965     -9% 7% 15% -6% Last 12 Months Sales 824 New Listings 1.924 Average Price ** $172.755 43% 135 Average Days (days) 152 Plex Fourth Quarter 2014 Sales Past 5 years -4% 7%      2% 17% 16% 19 Past 5 years -17% 47%   4% 2% 14% 15% -6 Last 12 Months 3   1% Last 12 Months 15       Past 5 years 26  Active Listings 47 Median Price ** ** Average Price ** ** 94% 42  40% Average Days (days) ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .6 Balanced 250 to 299 120 8.695 Active Listings 796 Volume (in thousands $) 187.768 12 Condominium Fourth Quarter 2014 Sales Last 12 Months -3% 109 78 Active Listings 153 Median Price ** $172.Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 137 Active Listings 603 Median Price $214.4 14.7 9.6 Buyer's Balanced market Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 48 .

832 Average Days (days) 106      545 29% 437 -5% $245.Fourth Quarter 2014 Area 37: South-West of the South Shore List of Areas Table 1.8 10.525 13 Condominium Fourth Quarter 2014 Sales Last 12 Months 9% 97 122 Active Listings 114 Median Price ** $170.8 Buyer's Balanced market Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 49 .331 Active Listings 586 Volume (in thousands $) 162.321     -4% 2% 18% -3% Table 2 .9 6.Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 142 New Listings 294 Active Listings 583 Volume (in thousands $) 33.1 Buyer's 300 and more 139 9.000 Average Price $247.8 Seller's Seller's 250 to 299 109 10.Market Conditions by Price Range Single-Family Last 12 Months By category Last 12 Months Price Range ($ thousands) Buyer’s market Less than 200 Inventory (average of the 12 months) Sales (average of the 12 months) Months of Inventory (I) (S) (I)/(S) Market Conditions 55 7.500 -2% $256.4 14.3 7.508 -14% 135 Average Days (days) 150 Plex Fourth Quarter 2014 Sales Past 5 years -5% 21%      3% 12 Active Listings 17 13 Median Price ** ** Average Price ** ** 14% 15% 7 Past 5 years 3% 8%   -2% -4% 20% 17% 61 Last 12 Months 4   1% Last 12 Months 22       Past 5 years Average Days (days) ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .000 Average Price ** $169.Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 116 Active Listings 451 Median Price $240.9 200 to 249 134 17.522     2% 4% 18% 0% Last 12 Months Sales 681 New Listings 1.

Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 86 New Listings 237 Active Listings 443 Volume (in thousands $) 30.000 14% $388.495 Average Days (days) 117      351 -10% 300 21% $345.6 19.500 Average Price ** $194.461     -16%     -7% 2% -6% -10% Last 12 Months Sales 498 New Listings 1.0 Seller's 275 to 349 59 6.7 Balanced 90 8.6 10.8 Buyer's 350 to 499 500 and more Balanced market Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 50 .4 Buyer's 110 5.233 -2% 150 Average Days (days) 125 Plex Fourth Quarter 2014 Sales Past 5 years -11% -8%      3% 14 Active Listings 14 12 Median Price ** ** Average Price ** ** 19% 19% 6 Past 5 years 1% 2%   1% 5% 11% 17% 13 Last 12 Months 2   5% Last 12 Months 25       Past 5 years Average Days (days) ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .Fourth Quarter 2014 Area 38: Candiac/La Prairie List of Areas Table 1.500 Average Price $430.3 5.613 -8% -4% -6% Table 2 .8 8.Market Conditions by Price Range Single-Family Last 12 Months By category Last 12 Months Price Range ($ thousands) Buyer’s market Inventory (average of the 12 months) Sales (average of the 12 months) Months of Inventory (I) (S) (I)/(S) Market Conditions Less than 275 42 8.Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 59 Active Listings 282 Median Price $373.630 -3 Condominium Fourth Quarter 2014 Sales Last 12 Months -23% 103 133 Active Listings 147 Median Price ** $184.037 Active Listings 462 Volume (in thousands $) 166.

249 7 117      5% 18 Active Listings 28 26 Median Price ** ** Average Price ** ** 30% 28% 0 Past 5 years -7% 9%   0% -2% 13% 12% 12 Last 12 Months 3   4% Last 12 Months 16% Plex Fourth Quarter 2014 Sales 665 9% Condominium Fourth Quarter 2014 Sales Last 12 Months 2% Past 5 years Average Days (days) ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .034 Volume (in thousands $) 76.955     2% -2% 7% 2% Last 12 Months Sales 1.0 Balanced 400 to 499 Balanced market Inventory (average of the 12 months) 500 and more Seller's 90 9.Market Conditions by Price Range Single-Family Last 12 Months By category Last 12 Months Price Range ($ thousands) Buyer’s market Sales (average of the 12 months) Months of Inventory (I) (S) (I)/(S) Market Conditions Less than 250 41 9.3 7.191 New Listings 2.7 Seller's 300 to 399 124 15.000 0% $228.9 15.4 250 to 299 79 10.2 Buyer's Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 51 .6 Balanced 165 10.Fourth Quarter 2014 Area 39: Brossard/Saint-Lambert List of Areas Table 1.3 4.Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 132 Active Listings 466 Median Price $356.Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 236 New Listings 495 Active Listings 1.500 Average Price $391.200 Average Days (days) 90      101 Active Listings 540 Median Price $214.104 Volume (in thousands $) 391.000 5% $401.000 Average Price $236.639 Active Listings 1.445 Average Days (days) 120 9% 499 $350.794 6      87      Past 5 years -1% 5% 508 4% 580 -3% $215.322     -5% -1% 7% -2% Table 2 .6 8.3 9.

000 Average Price $344.1 Buyer's 87 7.138 Average Days (days) 78      84 Active Listings 420 Median Price $170.008 Volume (in thousands $) 324.1 Balanced 300 to 399 119 10.8 3.819 Average Days (days) 103 84 439 -2% 454 -10% $190.0 9.Market Conditions by Price Range Single-Family Last 12 Months By category Last 12 Months Price Range ($ thousands) Buyer’s market Inventory (average of the 12 months) (I) Balanced market Less than 225 44 11.Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 247 New Listings 534 Active Listings 949 Volume (in thousands $) 67.000 5% $305.000 -7% $360.829 20           Past 5 years -2% 10% 115      1% 169 -9% 161 -2% $355.950 Average Price $309.0 12.386 -5      49 Active Listings 150 Median Price $340.179 New Listings 2.528 20 117      17% 20% 9 Past 5 years -10% -3%   3% 3% 14% 14% 6 Last 12 Months 44%   0% Last 12 Months -1% Plex Fourth Quarter 2014 Sales 571 5% Condominium Fourth Quarter 2014 Sales Last 12 Months -4% Past 5 years -5% -5%   11% Sales (average of the 12 months) Months of Inventory Market Conditions (S) (I)/(S) 3% 2% 15% 20 ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .4 Buyer's 400 and more Seller's Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 52 .000 -5% $202.652 Average Days (days) 123 2% 393 $270.0 6.7 225 to 249 43 7.500 Average Price $187.Fourth Quarter 2014 Area 40: Vieux-Longueuil List of Areas Table 1.1 Seller's 250 to 299 100 11.448 Active Listings 1.901     4% 13% -2% 5% Last 12 Months Sales 1.8 11.137     -6% -4% 1% -3% Table 2 .Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 114 Active Listings 379 Median Price $276.

9 Seller's 250 to 274 59 8.2 7.100 0% $262.000 Average Price $181.950 Average Price $251.676 3% 11% -4% Table 2 .9 13.Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 104 Active Listings 368 Median Price $239.785 Average Days (days) 86      33 Active Listings 224 Median Price $176.750 -2% $180.779 Active Listings 671 Volume (in thousands $) 214.562 -69 93 7%      20 Active Listings 64 Median Price ** $330.7 5.805 8 Condominium Fourth Quarter 2014 Sales Last 12 Months -29%      83 199 33% 208 -2% $178.3 Seller's 275 to 349 128 10.9 Seller's 225 to 249 57 9.Market Conditions by Price Range Single-Family Last 12 Months By category Last 12 Months Buyer’s market Price Range ($ thousands) Inventory (average of the 12 months) (I) Balanced market Less than 225 64 16.479 57 29% 64 Average Days (days) 104        -1% -1% 18% 21% 8 Past 5 years -3% 11%   -1% -1% 15% 17% -9 Last 12 Months Sales  Past 5 years -4% Last 12 Months -27% Plex Fourth Quarter 2014      Past 5 years 12% 34%   14% Sales (average of the 12 months) Months of Inventory Market Conditions (S) (I)/(S) -2% -3% 19% 18 ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .3 3.4 Buyer's 91 6.3 12.419 Average Days (days) 61 617 0% 400 -1% $251.Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 157 New Listings 361 Active Listings 655 Volume (in thousands $) 38.000 Average Price ** $344.Fourth Quarter 2014 Area 41: Saint-Hubert List of Areas Table 1.599     -23%     -3% 1% 12% -22% Last 12 Months Sales 873 New Listings 1.2 Buyer's 350 and more Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 53 .

324     10% 13% -4% 21% Last 12 Months Sales 695 New Listings 1.7 15.398     0% -7% 1% 5% Table 2 .Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 122 Active Listings 301 Median Price $356.615 Average Days (days) 102      38 Active Listings 185 Median Price $278.450 Average Price $268.3 Buyer's 500 and more Seller's Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 54 .4 Balanced 133 8.Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 160 New Listings 275 Active Listings 490 Volume (in thousands $) 63.000 Average Price $437.247 Active Listings 520 Volume (in thousands $) 263.000 12% $417.3 3.Fourth Quarter 2014 Area 42: Boucherville/Saint-Bruno List of Areas Table 1.6 6.3 8.000 0% $280.7 Seller's 400 to 499 53 6.058 11      94 191 -2% 186 8% $269.Market Conditions by Price Range Single-Family Last 12 Months By category Last 12 Months Buyer’s market Price Range ($ thousands) Inventory (average of the 12 months) (I) Balanced market Sales (average of the 12 months) Months of Inventory (S) (I)/(S) Market Conditions Less than 300 46 12.120 Average Days (days) 89 329 8% $355.333 7 126 Past 5 years -1% -3%        6% 7% 27% 30% 12 Past 5 years 6% 8%   2% 0% 35% 36% 32 Last 12 Months 0 Active Listings      Last 12 Months 3% Plex Fourth Quarter 2014 Sales 501 -6% Condominium Fourth Quarter 2014 Sales Last 12 Months 13% Past 5 years 3 4 4 Median Price ** ** Average Price ** ** Average Days (days) ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .8 300 to 399 97 14.

Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 100 Active Listings 311 Median Price $268.3 7.448 Average Price $290.1 Seller's 225 to 274 85 17.223 Average Days (days) 115 Plex Fourth Quarter 2014 Sales Past 5 years -3% -6%      1% 7 Active Listings 13 14 Median Price ** ** Average Price ** ** 16% 17% 4 Past 5 years -21% 13%   -2% 3% 5% 12% 28 Last 12 Months 3   0% Last 12 Months 12 Active Listings      Past 5 years Average Days (days) ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .Fourth Quarter 2014 Area 43: Sainte-Julie/Varennes List of Areas Table 1.782     -10%     -7% 3% 0% -13% Last 12 Months Sales 659 New Listings 1.4 Buyer's 350 and more Balanced market Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 55 .Market Conditions by Price Range Single-Family Last 12 Months By category Last 12 Months Price Range ($ thousands) Buyer’s market Inventory (average of the 12 months) Sales (average of the 12 months) Months of Inventory (I) (S) (I)/(S) Market Conditions Less than 225 40 9.000 -2% $284.961 11 Condominium Fourth Quarter 2014 Sales Last 12 Months -7% 81 139 82  7% 133 Median Price ** $170.4 13.0 Seller's 275 to 349 99 13.179 Active Listings 471 Volume (in thousands $) 179.Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 115 New Listings 230 Active Listings 464 Volume (in thousands $) 31.482 -5% -1% -5% Table 2 .7 4.637 Average Days (days) 89      569 -4% 323 1% $265.000 Average Price ** $184.5 Seller's 100 7.1 5.

818 Average Days (days) 95      659 13% 567 3% $279.7 Balanced 350 and more 278 13.2 Seller's Seller's 250 to 349 199 23.367 5% 14% 8% Table 2 .0 8.2 200 to 249 68 13.1 4.Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 146 Active Listings 536 Median Price $277.500 4% $310.1 5.383     23%     1% -5% 6% 31% Last 12 Months Sales 823 New Listings 1.2 Buyer's Balanced market Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 56 .8 20.690 Active Listings 755 Volume (in thousands $) 239.Fourth Quarter 2014 Area 44: Beloeil/Mont-Saint-Hilaire List of Areas Table 1.833 1 Condominium Fourth Quarter 2014 Sales Last 12 Months 32% 96 138 Active Listings 163 Median Price ** $185.000 Average Price $308.Market Conditions by Price Range Single-Family Last 12 Months By category Last 12 Months Buyer’s market Price Range ($ thousands) Inventory (average of the 12 months) Sales (average of the 12 months) Months of Inventory (I) (S) (I)/(S) Market Conditions Less than 200 21 5.786 -8% 171 Average Days (days) 108 Plex Fourth Quarter 2014 Sales Past 5 years 5% 19%      5% 24 Active Listings 15 14 Median Price ** ** Average Price ** ** 22% 22% 3 Past 5 years -20% -2%   -2% 1% 12% 13% 6 Last 12 Months 4   5% Last 12 Months 25       Past 5 years Average Days (days) ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 176 New Listings 336 Active Listings 716 Volume (in thousands $) 51.000 Average Price ** $193.

1 Buyer's 350 and more Seller's Balanced market Seller’s market Source: QFREB by the Centris® system Definitions and Explanatory Notes 57 .769 64 34% 88 Average Days (days) 112 Plex Fourth Quarter 2014 Sales Past 5 years 6% 7%      3% 20 Active Listings 25 20 Median Price ** ** Average Price ** ** 21% 19% 4 Past 5 years -12% 30%   -2% -4% 38% 22% 3 Last 12 Months 2   -1% Last 12 Months Sales       Past 5 years Average Days (days) ** Insufficient number of transactions to produce reliable statistics Evolution of Market Conditions Table 3 .9 Seller's 275 to 349 94 7.Market Conditions by Price Range Single-Family Last 12 Months By category Last 12 Months Buyer’s market Price Range ($ thousands) Inventory (average of the 12 months) Sales (average of the 12 months) Months of Inventory (I) (S) (I)/(S) Market Conditions Less than 225 56 8.2 Buyer's 192 9.Detailed Centris ® Statistics per Property Category Single-Family Fourth Quarter 2014 Sales 93 Active Listings 410 Median Price $287.6 20.250 Average Price $323.394 Average Price ** $193.901 8 Condominium Fourth Quarter 2014 98 12 Active Listings 87 Median Price ** $189.622     57% 23% 21% 68% Last 12 Months Sales 505 New Listings 1.2 6.950 Average Days (days) 100      Last 12 Months 63% 421 17% 405 14% $278.Fourth Quarter 2014 Area 45: Chambly List of Areas Table 1.000 13% $305.5 225 to 274 63 9.Summary of Centris ® Activity Total Residential Fourth Quarter 2014 Sales 107 New Listings 279 Active Listings 525 Volume (in thousands $) 32.568     2% 11% 10% 3% Table 2 .8 12.194 Active Listings 515 Volume (in thousands $) 145.6 6.

Corresponds to the average number of active listings in the past 12 months. Residentiel Includes the following property categories: single-family homes. It is important to note that this measure is different than the average selling time. Any reproduction of the information contained in this publication. price growth is generally moderate. which takes effect once all conditions are met.ca. For example. market conditions reflect the situation of the past 12 months. 58 . particularly when the number of transactions is low. quarterly variations are calculated in relation to the same quarter of the previous year. Active Listings Inventory The total number of listings that have an "active" status on the last day of the month. the market favours sellers (seller's market).Definitions and Explanatory Notes Previous View Centris® System The Centris® system is the most extensive and current computerized database of real estate transactions. price growth is generally low and may even be negative. the market is considered balanced. It is obtained by dividing the inventory by the average number of sales in the past 12 months. The sale date is the date on which the promise to purchase is accepted. If the number of months of inventory is between 8 and 10. Some transactions may be excluded from the calculation in order to obtain a more significant average price. Contact us at: stats@fciq. Number of Sales Total number of sales concluded during the targeted period. in whole or in part. The median price divides all transactions into two equal parts: 50 per cent of transactions were at a lower price than the median price and the other 50 per cent were at a higher price. caution is required when using these statistics. Average Sale Price Average value of sales concluded during the targeted period. New Listings Caution The average and median property prices indicated in this brochure are based on transactions concluded via the Centris® system during the targeted period. click here. Volume of sales Amount of all sales concluded during the targeted period. This calculation eliminates fluctuations due to the seasonal nature of listings and sales. if the number of months of inventory is six. About the QFREB The Québec Federation of Real Estate Boards (QFREB) is a non-profit organization that oversees the twelve provincial real estate boards. In such a context. Average Selling Time Average number of days between the date the brokerage contract was signed and the date of sale. They do not necessarily reflect the average or median value of all properties in a sector. calculated according to the pace of sales of the past 12 months. All rights reserved. Number of Months of Inventory The number of months needed to sell the entire inventory of properties for sale. 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. As a result. To subscribe to the Barometers. directly or indirectly. Information and Subscription This publication is produced by the Market Analysis Department of the QFREB. The content of this publication is protected by copyright laws and is owned by the Québec Federation of Real Estate Boards. in dollars ($). plexes (revenue properties with 2 to 5 dwellings). and hobby farms. this means that it would take six months to sell the entire inventory of properties for sale. We can also say that the inventory corresponds to six months of sales. meaning that it does not favour buyers or sellers. condominiums. Some transactions may be excluded from the calculation in order to obtain a more significant median price. Median Sale Price Median value of sales concluded during the targeted period. price growth is generally high. Due to the way the number of months of inventory is calculated (see above). The number of new brokerage contracts with a signature date that falls within the targeted period. If the number of months of inventory is less than 8. If the number of months of inventory is greater than 10. Market Conditions Variation Due to the seasonal nature of real estate indicators. In such a context. Quarterly and annual data correspond to the average monthly data for the targeted period. terms and conditions Copyright © 2013 Québec Federation of Real Estate Boards. 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. is specifically forbidden except with the prior written permission of the owner of the copyright. It is governed by very specific rules that all real estate brokers in Québec must adhere to. Only real estate brokers who are members of a real estate board have access to it. Similarly. Market conditions are based on the number of months of inventory. the market favours buyers (buyer's market). In such a context.