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1\begin{table}[htbp]2\centering\footnotesize3\caption{Cluster bootstrap (40 draws, resampling fine-location cells) versus model-based standard errors, condominiums (×100)}\label{tab:bootstrap}4\begin{threeparttable}5\begin{tabular}{lrrrrrrr}6\toprule7Cell (condominiums) & Sales & Model s.e. level & Bootstrap s.e. level & Ratio & Model s.e. 12-m & Bootstrap s.e. 12-m & Ratio \\8\midrule9province QC & 122{,}989 & 0.87 & 0.50 & 0.58 & 1.21 & 0.61 & 0.50 \\10municipality 78032 & 61 & 7.53 & 11.67 & 1.55 & 10.65 & 14.93 & 1.40 \\11municipality 71060 & 204 & 2.48 & 3.91 & 1.58 & 3.50 & 4.71 & 1.34 \\12municipality 61025 & 199 & 2.65 & 3.71 & 1.40 & 3.73 & 4.55 & 1.22 \\13municipality 60037 & 17 & 4.07 & 3.19 & 0.78 & 5.70 & 3.42 & 0.60 \\14municipality 68010 & 3 & 10.60 & 6.18 & 0.58 & 14.41 & 5.61 & 0.39 \\15municipality 63023 & 1 & 14.84 & 12.31 & 0.83 & 20.75 & 10.71 & 0.52 \\16municipality 77043 & 199 & 3.70 & 6.96 & 1.88 & 5.16 & 9.00 & 1.74 \\17municipality 59015 & 348 & 2.18 & 5.74 & 2.63 & 3.07 & 7.77 & 2.53 \\18municipality 45072 & 621 & 2.83 & 4.33 & 1.53 & 3.96 & 5.58 & 1.41 \\19municipality 78010 & 12 & 10.31 & 9.31 & 0.90 & 15.87 & 10.02 & 0.63 \\20municipality 32043 & 5 & 8.40 & 6.52 & 0.78 & 12.29 & 6.77 & 0.55 \\21municipality 53065 & 3 & 9.24 & 4.51 & 0.49 & 12.73 & 3.66 & 0.29 \\22region 02 & 754 & 1.76 & 2.81 & 1.60 & 2.49 & 3.37 & 1.36 \\23region 07 & 4{,}851 & 1.38 & 1.76 & 1.28 & 1.92 & 2.01 & 1.05 \\24region 04 & 1{,}187 & 2.07 & 3.44 & 1.67 & 2.89 & 4.33 & 1.50 \\25region 06 & 46{,}957 & 0.98 & 0.91 & 0.93 & 1.37 & 1.12 & 0.81 \\26region 17 & 608 & 2.18 & 3.53 & 1.62 & 3.07 & 4.25 & 1.38 \\27\bottomrule28\end{tabular}2930\end{threeparttable}31\end{table}32