Hebdo · Sem —
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Real estate intelligence · Island of Montreal
The information.
The information.
Not the noise.
L'Indice Tardif is the residential market indicator for the Island of Montreal: a monthly score from 0 to 100, granular by sector, complemented by a streamlined weekly bulletin. No superlatives.
Our role
The best decisions come from good data, not opinions. What the media reports today, the data announced earlier.
See before the market — The Tardif Index
The measurement
One score, three market signals
The Tardif Index aggregates three market components into a single score from 0 to 100, calculated on Centris data (compiled by Endurance), under the methodological responsibility of a licensed OACIQ broker.
Pondération 40%
40
Sales-to-new listings ratio
The SNLR measures the instantaneous pressure of demand on supply. It is the central indicator used by APCIQ and ACI to qualify a market.
Pondération 30%
30
Expiration ratio
The proportion of listings withdrawn without a sale. A signal of mismatch between asking prices and the real purchasing power of present buyers.
Pondération 30%
30
Annual momentum (YoY)
The year-over-year change in sales. It eliminates the market's natural seasonality and reveals the underlying dynamic, beyond weekly noise.
The scale
Five interpretation zones
0 – 20
Strong buyer's
Downward pressure on prices, high inventory, low volume.
21 – 40
Light buyer's
Negotiating power on buyer's side, moderate to high expirations.
41 – 60
Balanced
Stable balance of power, SNLR near 50%, healthy market.
61 – 80
Light seller's
Moderate upward pressure, occasional multiple offers.
81 – 100
Strong seller's
Frequent overbidding, strong upward pressure, low inventory.
The scope
Six categories. Thirty-four territories.
The Index covers the 19 boroughs of the City of Montreal and the 15 linked cities, across six residential categories. The values below reflect the last published reading.
Coverage
34
Boroughs + linked cities
Categories tracked
6
Condo · Single-family · Duplex · Triplex · 4-plex · Multi 5+
Median condo · island
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Latest reading
Frequency
52+12
Weekly bulletins + monthly editions / year
The feed
Every Tuesday. Every month.
The weekly bulletin is published on Tuesday and covers the previous week. The monthly edition, released via press release on the first Thursday, adds granularity by Category × Borough segment.
Published bulletins will appear here automatically, from most recent to oldest.
Monthly · —
29/100
Month —
Monthly press release
Monthly summary and Category × Borough segments.
Area — Read the press release →Published monthly editions will appear here automatically.
For whom
Three ways to read the market
The same score reads differently depending on your position. The Index does not provide personalized advice—it gives you the context to make better decisions with your broker.
Sellers
Know if the market is getting your asking prices, or if you need to adjust. Read sale delays and supply-side pressure, week after week.
Read to sell →Buyers
Measure your real negotiating margin. Identify categories and areas where supply exceeds demand, and where timing works in your favor.
Read to buy →Brokers & media
A citable, dated, and methodologically documented source. Granular data by segment, complementary to the Centris HPI and APCIQ statistics.
Frequently Asked Questions
Understanding the Index
The Tardif Index is a weekly and monthly indicator of transactional conditions in Montreal Island's residential market. It combines three signals—the sales-to-new listings ratio (SNLR, 40%), the expiration ratio (30%), and annual momentum (30%)—into a score from 0 to 100. The complete methodology is public.
A score of 0 to 20 indicates a strong buyer's market; 21 to 40, light buyer's; 41 to 60, balanced; 61 to 80, light seller's; 81 to 100, strong seller's. The lower the score, the more the market favors buyers. Thresholds are calibrated to Quebec real estate industry standards.
The indicator exclusively covers the 19 boroughs of the City of Montreal and the 15 linked cities on the island, for a total of 34 territories. It covers six residential categories: condominium, single-family, duplex, triplex, 4-plex, and multi-unit 5+ units.
The Centris HPI measures price evolution in aggregate across the CMA. The Tardif Index instead measures transactional conditions (supply-demand tension) at fine granularity, by category and by borough. Both are complementary: the Index publishes where regional indices do not go into detail.
Primary calculations are based on Centris data (compiled by Endurance), under the methodological responsibility of David Tardif, a licensed broker with the OACIQ. Cross-validation relies on the Centris HPI and monthly statistics from APCIQ. Macroeconomic context comes from the Bank of Canada, Statistics Canada, and CMHC.
A weekly bulletin is published every Tuesday morning and covers the previous Monday through Sunday. A national monthly edition is released via press release on the first Thursday of the month following the captured transactions, with an additional layer of granularity by segment.
Every Tuesday, 8 a.m.
Receive the Index before the market
The week's score, editorial analysis, and key figures, delivered directly by email. No noise, no solicitation.