Residential Sales in Québec Register a Fourth Consecutive Quarterly Increase

L'ÎLE-DES-SŒURS, QC, July 14, 2015 /CNW Telbec/ - 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, 23,753 residential sales were concluded in the second quarter of 2015, a 9 per cent increase compared to the second quarter of 2014 and the fourth consecutive quarterly increase in sales.

Sales increased for all three property categories in the second quarter of 2015. The number of plex (2 to 5 dwellings) transactions jumped by 13 per cent, while the number of single-family home and condominium transactions rose by 9 per cent and 6 per cent, respectively.

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

All six of the province's Census Metropolitan Areas (CMAs) registered sales growth in the second quarter of the year. The largest increases were observed in the Gatineau, Sherbrooke and Montréal CMAs, at 12, 11 and 10 per cent, respectively. The Trois-Rivières (+6 per cent), Québec City (+5 per cent) and Saguenay (+4 per cent) CMAs also performed well in terms of sales.

Among the province's smaller urban centres, the agglomerations of Val-d'Or (+55 per cent), Saint-Sauveur (+36 per cent), Sainte-Adèle (+28 per cent) and Thetford Mines (+26 per cent) stood out with the largest increases in sales.

In terms of prices, single-family homes ($235,000) and condominiums ($220,000) both registered a moderate increase in median price, at 2 per cent, compared to the second quarter of 2014.

Finally, the supply of residential properties for sale continued to rise as there were, on average, 5 per cent more listings in the second quarter of 2015 as compared to the same period in 2014. "This was the smallest increase in supply since the third quarter of 2010," said Paul Cardinal, Manager of the QFREB's Market Analysis Department. "Generally speaking, market conditions tend to stabilize. The number of months of inventory for single-family homes and condominiums even decreased slightly in the second quarter of the year in several of the province's urban centres," he added.

Note: Regional press releases are 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 and the more than 13,000 real estate brokers who are their 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.

SOURCE Fédération des chambres immobilières du Québec

For further information: Sarah Hamel, Tel.: [phone], ext. 216, [email protected]