Chart 1: Distribution of Price
Chart 2: Market Size
Chart 3: Market Pricing
Chart 4: Target Price Range
Chart 5: Target Price Range - SP/OP Comparison
Chart 1: Distribution of Price
Objective: To know the number of properties sold or currently for sale, by price range, for the chosen time frame. These two pieces of information can also be combined on the same chart, allowing you to compare the number of sold properties and for-sale properties by price range.
Description: The chart shows, for the chosen time frame (30, 45, 60, 90, 180 or 365 days), the number of properties sold or currently for sale (depending on the checked box in the upper left-hand side of the chart), according to the chosen price range. The Target Price Range, which indicates the suggested price for the subject property, appears in a darker colour. The number of sold properties is represented by green bars and the number of for-sale properties is represented by red bars. You can also display the sold and for-sale properties at the same time; however, only the outline of the red bars will appear in order to see the overlay. The table below the chart displays the following information for sold properties or for-sale properties, as the case may be: total number of properties, number of properties within the target price range, number of properties outside of the target price range and proportion of properties within the target price range compared to the total. If you select both sold properties and for-sale properties, the table will automatically display the data for sold properties.
Data table: You can also view the data in table format by clicking on “Data” (in the upper right-hand corner of the chart). The table provides several additional pieces of information compared to the chart. For each price range, the number of sold or for-sale properties (you can only check one box) is distributed according to the following attributes: number of bedrooms, number of full baths, living area and lot size. For these last two attributes, if information is missing for some properties, MarketMetrics will indicate a value of zero. For example, a lot size is normally not indicated for apartment-style condominiums.
Use: First, with respect to sold properties, the chart gives us a clearer picture of the recent demand for properties in the chosen price range. This demand can be compared with the demand for properties in other price ranges. Then, with respect to for-sale properties, we have a clearer picture of the recent supply of properties in the chosen price range. This supply can be compared with the supply of properties in other price ranges. Finally, if you select both sold and for-sale properties, you can compare the supply (red bars) and demand (green bars) of properties by price range. However, the primary use of the data table is to compare the main attributes (number of bedrooms, number of full bathrooms, living area and lot size) of the subject property with those of other sold or for-sale properties in the same price range. The for-sale properties are those that are likely to be in direct competition with the subject property.
Interpretation: Essentially, the information obtained should be used to judge whether the suggested price for your subject property seems appropriate. If it does not, the suggested price can be modified. For example, if your subject property has attributes that are similar to those in properties that are currently for sale in the same price range, but your subject property has a much larger lot size, the suggested price could be adjusted upwards. However, an analysis like this is only partial. To set an appropriate selling price for a property, a more thorough analysis is always needed, as it takes into account all of the property’s attributes and all the factors that can affect its value (e.g., general condition, neighbourhood, landscaping, etc.).
Chart 2: Market Size
Objective: To know the evolution of the number of properties sold by price range.
Description: The chart shows the number of properties sold by price range for the chosen time frame (30, 45, 60, 90, 180 or 365 days) (solid bars), as well as for the previous time frame of the same duration (empty bars). For example, if you chose a period of 90 days, you will obtain the number of sales in the last 90 days, and it is compared to the number of sales in the 90 days preceding this.
The table below the chart shows the variation in number of units and the rate of change in % (if needed, see “How to Calculate and Interpret a Rate of Change”). A positive rate of change (an increase) is indicated with an arrow pointing up, and a negative rate of change (a decrease) is indicated with an arrow pointing down.
Data table: You can also view the data in table format by clicking on “Data” (in the upper right-hand corner of the chart). The table provides several additional pieces of information compared to the chart. First, the variation in number of units and the percentage change are indicated for all price ranges. Second, for each price range, the table indicates the most frequent property attributes of sold properties (in terms of number of bedrooms, number of bathrooms, living area and lot size), both for your chosen time frame and for the time frame that precedes it. With regards to the number of bedrooms and bathrooms, the number indicated is the mode (the number that occurs most frequently), while for the living area and lot size, the number indicated represents the average of all properties sold. Finally, the average selling price per square foot of living space and per square foot of lot size is indicated for your chosen time frame and for the time frame that precedes it.
Use: First, with respect to sold properties, the chart gives us a clearer picture of the change in recent demand for properties in the chosen price range. This demand can be compared with the demand for properties in other price ranges. The main use of the data table is to compare the main attributes of the subject property (number of bedrooms, number of full bathrooms, living area and lot size) with those of other properties that sold in the same price range.
Interpretation: Essentially, the information obtained should be used to judge whether the suggested price for your subject property seems appropriate. If it does not, the suggested price can be modified. For example, if your subject property has attributes that are similar to those in properties that sold in the same price range, but your subject property has a much larger lot size, the suggested price could be adjusted upwards. However, an analysis like this is only partial. To set an appropriate selling price for a property, a more thorough analysis is always needed, as it takes into account all of the property’s attributes and all the factors that can affect its value (e.g., general condition, neighbourhood, landscaping, etc.).
Chart 3: Market Pricing
Objective: To know the median price of properties that sold in the chosen time frame, and its evolution compared to the previous time frame of the same duration. Due to the seasonality that characterizes the selling price of properties in Québec, it is strongly recommended that you choose a time frame of 365 days for this chart, in order to obtain an appropriate comparison.
Description: The chart is identical to the previous chart (Market Size), however, it also shows, in dotted lines, the median price of properties sold in the chosen time frame and the median price of properties sold in the previous time frame of the same duration. The table below the chart shows the variation in median price in $ and the rate of change in % compared to the previous time frame (if needed, see “How to Calculate and Interpret a Rate of Change”). A positive rate of change (an increase) is indicated with an arrow pointing up, and a negative rate of change (a decrease) is indicated with an arrow pointing down.
Data table: You can also view the data in table format by clicking on “Data” (in the upper right-hand corner of the chart). The table provides several additional pieces of information compared to the chart. First, the variation in number of units and the percentage change are indicated for all price ranges. Second, for each price range, the table indicates the most frequent property attributes of sold properties (in terms of number of bedrooms, number of bathrooms, living area and lot size), both for your chosen time frame and for the time frame that precedes it. With regards to the number of bedrooms and bathrooms, the number indicated is the mode (the number that occurs most frequently), while for the living area and lot size, the number indicated represents the average of all properties sold. Finally, the average selling price per square foot of living space and per square foot of lot size is indicated for your chosen time frame and for the time frame that precedes it.
Use: First, with respect to sold properties, the chart gives us a clearer picture of the change in recent demand for properties in the chosen price range. This demand can be compared with the demand for properties in other price ranges. The main use of the data table is to compare the main attributes of the subject property (number of bedrooms, number of full bathrooms, living area and lot size) with those of other properties that sold in the same price range.
Interpretation: Essentially, the information obtained should be used to judge whether the suggested price for your subject property seems appropriate. If it does not, the suggested price can be modified. For example, if your subject property has attributes that are similar to those in properties that sold in the same price range, but your subject property has a much larger lot size, the suggested price could be adjusted upwards. However, an analysis like this is only partial. To set an appropriate selling price for a property, a more thorough analysis is always needed, as it takes into account all of the property’s attributes and all the factors that can affect its value (e.g., general condition, neighbourhood, landscaping, etc.).
Chart 4: Target Price Range
Objective: View summary information for sold properties or for-sale properties in the target price range in your chosen time frame, according to their price and number of days on the market. These two pieces of information can be combined on the same chart, allowing for a comparison between sold properties and for-sale properties.
Description: The chart shows, for the chosen time frame (30, 45, 60, 90, 180 or 365 days) and the chosen price range, the sold properties (green circles) or currently for sale properties (red squares) distributed according to their price (horizontal axis) and their number of days on the market (vertical axis). The suggested price for your subject property is represented by a dotted line. By pointing to a property with your mouse, summary information will be displayed (address, type of property, sold price, seller’s original price, ratio between the sold price and the seller’s original price, number of days on the market, number of price changes, number of bedrooms, number of bathrooms, living area, lot size). Sold or for-sale properties that have had at least one price change are identified by a solid shape and those that have not had a price change are identified by an empty shape. You can reduce the scale of the vertical axis, which represents the number of days on the market, in order to retain only those properties that have sold within a given period of time. The table below the chart shows the number of properties sold (or for-sale properties) in the target price range, their median price, their average selling time (number of days on the market), the number of properties that had a price change, the number of properties that did not have a price change, as well as their main attributes in terms of number of bedrooms, number of bathrooms, living area and lot size. As for the number of bedrooms and bathrooms, the number indicated is the mode (the number that occurs most frequently), while for the living area and lot size, the number indicated represents the average. Finally, the average sold price (or asking price) per square foot of living space is also indicated.
Data table: You can also see the list of all sold or for-sale properties by clicking on “Data” (in the upper right-hand corner of the chart). For each transaction, the table shows the address, the original asking price, the sold price, the number of bedrooms, the number of bathrooms, living area, lot size, the year built, the sold date, the number of days on the market, the number of price changes and the sold price / original price ratio. Each field can be sorted in ascending or descending order (only one field can be sorted at a time). To do so, click the name of the field (the column title). Results will appear in ascending order (indicated by an arrow pointing up). If you click the name of the field again, results will appear in descending order (indicated by an arrow pointing down). You can also select the transactions that you want to keep and then click “Checked Properties”. Only the selected transactions will be displayed in the table. Furthermore, if you return to the chart (by clicking on Chart in the upper right-hand side), the data in the chart will also be modified and will only display the transactions you selected.
Use: The table allows you to choose transactions one at a time in order to keep only those properties that you consider comparable to your subject property. Then, with the chart, you can compare their results in terms of sale price and number of days on the market, according to whether or not there has been a price change.
Interpretation: Essentially, the information obtained should be used to judge whether the suggested price for your subject property seems appropriate, based on the results of comparable properties that were already sold or for sale. Of course, the selling client’s goals must also be taken into account.
Chart 5: Target Price Range – Sold Price / Original Price Comparison
Objective: View summary information for sold properties in the target price range and the chosen time frame, according to the number of days on the market and the sold price / original price ratio.
Description: The chart shows, for the chosen time frame (30, 45, 60, 90, 180 or 365 days) and the chosen price range, the sold properties (green circles) distributed according to their price (horizontal axis) and the number of days on the market (vertical axis). The suggested price for your subject property is represented by a dotted line. By pointing to a transaction with your mouse, summary information will be displayed (address, type of property, sold price, seller’s original asking price, ratio between the sold price and the original price, number of days on the market, number of price changes, number of bedrooms, number of bathrooms, living area, lot size). Properties that have had at least one price change are identified by a solid shape and those that have not had a price change are identified by an empty shape.
You can reduce the scale of the vertical axis, which represents the number of days on the market, in order to retain only those properties that have sold within a given number of days. The table below the chart displays the number of properties sold in the target price range, according to whether or not they had a price change. The other statistics that are displayed are: the average original price, the average sold price, the sold price / original price ratio, average living area, average lot size, the average selling price per square foot of living space and lot space, as well as the main attributes in terms of number of bedrooms and number of bathrooms.
Data table: You can also see the list of all transactions by clicking on “Data” (in the upper right-hand corner of the chart). For each transaction, the table shows the address, the original asking price, the sold price, the number of bedrooms, the number of bathrooms, living area, lot size, the year built, the sold date, the number of days on the market, the number of price changes and the sold price / original price ratio. Each field can be sorted in ascending or descending order (only one field can be sorted at a time). Results in ascending order are indicated by an arrow pointing up, and results in descending order are indicated by an arrow pointing down. You can also select the transactions that you want to keep and then click “Checked Properties”. Only the selected transactions will be displayed in the table. Furthermore, if you return to the chart (by clicking on Chart in the upper right-hand side), the data in the chart will also be modified and will only display the transactions you selected.
Use: The table allows you to choose transactions one at a time in order to keep only those properties that you consider comparable to your subject property. Then, with the chart, you can compare their results in terms of number of days on the market and the sold price / original price ratio, according to whether or not there has been a price change.
Interpretation: Essentially, the information obtained should be used to judge whether the suggested price for your subject property seems appropriate, based on the results of comparable properties that were already sold. Of course, the selling client’s goals must also be taken into account.