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MLS® Sales in Québec: First Quarter Sales Fall Within the Average of the Past Five Years
Île-des-Soeurs, April 19, 2011 – The number of MLS® sales transactions in the province of Québec in the first quarter of 2011 decreased by 11 per cent compared to the first quarter of last year, according to the Québec Federation of Real Estate Boards (QFREB).
“It’s important to remember that the real estate market was quite dynamic in the first three months of 2010,” said Claude Charron, President of the Board of Directors of the QFREB. “After a very active start to the year in 2010, the province’s real estate market returned to a more normal level in 2011 with sales levels that were similar to those registered in previous years. There were 21,227 sales transactions in the province in the first quarter of 2011. This is slightly higher than the average of the past five years, which is 21,172 sales,” he added.
In the first quarter of 2011, the popularity of the condominium held strong. Despite a 7 per cent decrease in sales, condominiums registered their second best performance for a first quarter. Only last year’s condominium sales were higher than those of this year. Sales of single-family homes in Québec decreased by 11 in the first three months of 2011 compared to the same period in 2010, while plex sales fell by 16 per cent.
In terms of prices, the median price of single-family homes in Québec was $217,650, a 5 per cent increase compared to the first quarter of 2010. The median price of condominiums also posted a 5 per cent increase to reach $199,000. The increase in the median price of plexes was slightly higher at 6 per cent, reaching $330,000.
“As we anticipated, the decrease in sales that the province has experienced in the past four quarters has slowed property price increases, which were more moderate at the start of the year,” said Claude Charron

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Susan Goel

Susan Goel

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CENTURY 21 Vision
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