Quebec Federation of Real Estate Boards

Quebec Federation of Real Estate Boards

October 14, 2014 11:00 ET

First Quarterly Increase in Sales in More Than Two Years on Quebec's Residential Real Estate Market

ILE-DES-SŒURS, QUEBEC--(Marketwired - Oct. 14, 2014) - The Québec Federation of Real Estate Boards (QFREB) has released its most recent residential sales statistics for the province of Québec, based on the real estate brokers' Centris® provincial database. In total, 15,699 residential sales were concluded in the third quarter of 2014, a 3 per cent increase compared to the third quarter of 2013. This increase was mainly due to a particularly active month of September, when sales rose by 10 per cent across the province.

Click here to see the main residential statistics for the province of Québec.

"This was the first quarterly increase in sales in Québec since the second quarter of 2012, when the most recent tightening of mortgage insurance rules came into force," said Paul Cardinal, Manager of the QFREB's Market Analysis Department.

Sales of all three property categories increased in the third quarter of 2014 compared to the same quarter
in 2013. Single-family homes (11,169 transactions) led the way with a 4 per cent increase, plexes (1,292 transactions) followed with a 3 per cent increase, and condominiums (3,139 transactions) finished with a 1 per cent increase.

The province's six Census Metropolitan Areas (CMAs) all registered sales growth in the third quarter of the year, for the first time since the first quarter of 2012. The largest increases in sales were in the Trois-Rivières and Saguenay CMAs, at 16 per cent and 15 per cent, respectively. Sales increased by 8 per cent in the Sherbrooke CMA, by 5 per cent in the Québec City CMA, by 2 per cent in the Gatineau CMA and by 1 per cent in the Montréal CMA.

Among the province's smaller urban centres, the agglomerations of Val-d'Or (+96 per cent), Rouyn-Noranda (+51 per cent), Thetford Mines (+45 per cent), Sainte-Agathe-des-Monts (+37 per cent) and Sept-Îles (+30 per cent) posted the best results in terms of residential sales increases.

The median price of single-family homes has remained stable in Québec for the past three quarters, and stood at $222,000 in the third quarter of 2014, which is unchanged compared to the same period in 2013.

Note: Regional press releases (in French) are also available on the QFREB website, in the "Newsroom" section.

About Centris.ca

Centris.ca is Québec's real estate industry website for consumers, grouping all properties for sale by a real estate broker under the same address. Visit Centris.ca to obtain more information and quarterly statistics for the province of Québec.

About the Québec Federation of Real Estate Boards

The Québec Federation of Real Estate Boards is a non-profit organization composed of Québec's 12 real estate boards as associate members and more than 13,000 real estate brokers who are affiliated members. 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.

For more information about the Centris® statistics for each of the province's regions, don't miss the upcoming publication of the QFREB Barometer.

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