According to the real estate brokers’ provincial database, there were 15,212 residential sales transactions in the province of Québec in the third quarter of 2012, indicated the Québec Federation of Real Estate Boards (QFREB). This represents a 6 per cent decrease compared to the third quarter of 2011 and the first drop in sales after four consecutive quarterly increases.
Sales fell for all three property categories across the province. Single-family home sales registered the smallest decrease at 4 per cent, with 10,895 homes sold. The decrease in condominium and plex sales was more significant, as sales for these property categories fell by 10 and 15 per cent, respectively, with 3,045 and 1,175 transactions.
“At this time of the year in 2011, the Québec real estate market was fuelled by condominiums,” explained Paul Cardinal, Market Analysis Manager at the QFREB. “Thanks to a 10 per cent increase in condominium transactions, residential sales increased in Québec. This year, there were fewer condominium buyers in the urban centres of Montréal, Québec City, Gatineau and Sherbrooke,” he added.
The number of residential properties for sale in Québec by a real estate broker continued to grow for a ninth consecutive quarter. While the supply of plexes and single-family homes posted modest increases of 2 and 5 per cent, respectively, in the third quarter of 2012 compared to the same period last year, the number of condominiums for sale was 20 per cent higher.
Prices continued to increase in the third quarter of 2012 for all property categories. The median price of single-family homes in Québec rose by 2 per cent to reach $217,500.
“Four of the province’s six metropolitan areas registered a 4 per cent or greater increase in the median price of single-family homes, and many agglomerations posted an increase of 5 per cent or more,” added Mr. Cardinal.
Sales fell for all three property categories across the province. Single-family home sales registered the smallest decrease at 4 per cent, with 10,895 homes sold. The decrease in condominium and plex sales was more significant, as sales for these property categories fell by 10 and 15 per cent, respectively, with 3,045 and 1,175 transactions.
“At this time of the year in 2011, the Québec real estate market was fuelled by condominiums,” explained Paul Cardinal, Market Analysis Manager at the QFREB. “Thanks to a 10 per cent increase in condominium transactions, residential sales increased in Québec. This year, there were fewer condominium buyers in the urban centres of Montréal, Québec City, Gatineau and Sherbrooke,” he added.
The number of residential properties for sale in Québec by a real estate broker continued to grow for a ninth consecutive quarter. While the supply of plexes and single-family homes posted modest increases of 2 and 5 per cent, respectively, in the third quarter of 2012 compared to the same period last year, the number of condominiums for sale was 20 per cent higher.
Prices continued to increase in the third quarter of 2012 for all property categories. The median price of single-family homes in Québec rose by 2 per cent to reach $217,500.
“Four of the province’s six metropolitan areas registered a 4 per cent or greater increase in the median price of single-family homes, and many agglomerations posted an increase of 5 per cent or more,” added Mr. Cardinal.