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Quebec Real Estate
Although second quarter sales decreased slightly by 4 per cent compared to the second quarter of last year, overall year-to-date sales in the province of Que?bec increased by 13 per cent, reported the Que?bec Federation of Real Estate Boards (QFREB). Prices in all categories continued their increase.
“The second quarter decrease in sales is no surprise because the first quarter market
was extremely busy due to consumers getting back into the market after the
recession,” said Michel Beause?jour, FCA, Chief Executive Officer of the QFREB. “The
strong activity at the start of this year contributed to the overall year-to-date increase in
sales of 13 per cent,” he added.
In terms of property categories, condominiums performed well in the second quarter of
the year, registering a 1 per cent increase in sales compared to the same period last
year. Plexes followed with a slight decrease in sales of 3 per cent, while single-family
homes posted a 6 per cent decrease in sales.
As for prices, half of all single-family homes sold across the province in the second
quarter of 2010 were sold at a price higher than $213,000, a 9 per cent increase
compared to the second quarter of last year. The median price of condominiums
reached $196,849, a 9 per cent increase compared to the same period in 2009, while
that of plexes increased by 10 per cent to reach $320,000.
“We’re currently in a seller’s market. This explains why prices continue to increase
despite the decrease in sales in the second quarter,” said Michel Beause?jour.
Source of the article: centris.ca
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