ÎLE-DES-SŒURS, QC, Jan. 15, 2015 /CNW Telbec/ - The Québec Federation of Real Estate Boards (QFREB) has just released the most recent residential real estate market statistics for the province of Québec, based on the real estate brokers' Centris® provincial database. In total, 70,686 residential sales were concluded in 2014, which represents a slight decrease of 1 per cent compared to 2013. Sales of single-family homes and plexes remained stable with 49,857 and 6,032 transactions, respectively, while sales of condominiums slowed by 2 per cent in 2014, with 14,423 transactions.
Click here to see the main residential statistics for the province of Québec.
Among the province's six Census Metropolitan Areas (CMAs), Trois-Rivières registered, by far, the best results for 2014, with a 21 per cent increase in sales. The 1,119 residential transactions that were concluded represent a new record for this CMA. The only other CMA to register an increase in sales in 2014 was Québec City, at 3 per cent. All of the province's other CMAs registered a decrease in sales, ranging from -1 per cent in Sherbrooke to -6 per cent in Gatineau. As for the agglomerations, Val-d'Or (+42 per cent), Montmagny (+25 per cent), Thetford Mines (+21 per cent) and Rouyn‑Noranda (+19 per cent) stood out with the largest increases in sales, while Baie‑Comeau (- 22 per cent) registered the largest decrease.
The supply of properties for sale continued to increase for a fourth consecutive year in Québec. On average, 77,938 residential properties were for sale through a real estate broker in 2014, which represents a 10 per cent increase compared to 2013. "With this increase in the number of properties available, market conditions continued to relax in most areas of Québec, which generally translated into moderate price increases," explained Paul Cardinal, Manager of the QFREB's Market Analysis Department.
Across the province, half of all single-family homes sold for more than $227,000 in 2014, a 1 per cent increase compared to last year. The Sherbrooke (+2 per cent), Trois-Rivières (+2 per cent) and Montréal (+1 per cent) CMAs registered an increase in the median price of single-family homes in 2014. The median price remained stable in the Québec City CMA, but decreased in the Saguenay (-3 per cent) and Gatineau (-1 per cent) CMAs.
"There were two phases to Québec's real estate market in 2014: sales fell significantly in the first two quarters of the year, but the third and fourth quarters saw an increase in sales," said Paul Cardinal. "The rise in sales in the last quarter of the year was the largest increase in the past ten quarters," he added.
Increase in Sales in Fourth Quarter of 2014
After increasing by 3 per cent in the third quarter of the year, sales continued to grow in the fourth quarter of 2014 in Québec. From October to December, 14,842 transactions were concluded across the province, a 5 per cent increase compared to the fourth quarter of 2013. Active listings increased by 10 per cent and the median price of single-family homes stood at $225,000, the same level as in the fourth quarter of 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, including its regions and municipalities.
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
Sarah Hamel, Tel.: 514-762-0212, ext. 216, [email protected]
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