For more details, click on the name of the Location variable.

Market Areas

Market areas are geographic areas that are subject to the same economic influences.

Types of Market Areas

Urban Market Areas
Represented by a part of a large metropolitan centre (e.g., Ottawa), or by all or part of a moderate size city (e.g., Sault Ste. Marie) or by a cluster of towns.

Rural Market Areas
Rural areas that may include small towns and villages.

Waterfront Market Areas
Properties are mostly of a seasonal or recreational nature with some year-round residences, where the values are influenced based on their accessibility to water.

Condominium Market Areas
In larger urban centres, high-rise condominiums and townhouse condominiums are analyzed independently. In smaller urban or rural areas, where sales are limited, all condominiums are analyzed together and adjustments are made for the design and/or style of the condominium.


Neighbourhoods are geographic areas, within a specific market area, that help to capture the influence of location. Sub-neighbourhoods (Homogeneous Neighbourhoods) are used to review and adjust values at a finer level (e.g., street, lake, condominium plan).

Note: The applicable law prevails to the extent there is any conflict between this information and the current law. This information is not intended to provide legal advice and should not be relied upon as such.