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MLS® Sales in Québec Decrease Slightly in the Second Quarter of 2011


MLS® Sales in Québec Decrease Slightly in the Second Quarter of 2011

Île-des-Soeurs, July 20, 2011 – There were 23,064 MLS® sales transactions in the province of Québec in the second quarter of 2011, a 5 per cent decrease compared to the second quarter of 2010, according to the Québec Federation of Real Estate Boards (QFREB).
“This was the fifth consecutive quarterly decrease in sales in Québec,” said Claude Charron, President of the Board of Directors of the QFREB. “But despite the slowdown, the decrease in sales activity in the second quarter of 2011 was less pronounced than the decreases registered in the three previous quarters, which is encouraging for the coming months,” he added.
In terms of property categories, condominiums fared best in the second quarter of the year, as sales remained stable compared to the same period in 2010. Sales of single-family homes decreased by 5 per cent, while plex sales fell by 14 per cent.
As for prices in Québec, growth continued in the second quarter of 2011, but at a moderate pace. The median price of single-family homes increased by 3 per cent to reach $220,000. The median price of both condominiums and plexes increased by 4 per cent, reaching $205,000 and $332,250, respectively.
“With 60,815 active listings in the second quarter, the supply of properties in Québec was up by 14 per cent compared to the second quarter of 2010. Buyers therefore had a large choice of properties on the market,” added Mr. Charron.


*Variation compared to the same period last year
Source: QFREB by Centris®