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THE ESTATE INDUSTRY IS BURGEONING

The estate industry is quite in a healthy position with a 7% increase of transactions during the first quarter of the year compared to the same quarter on 2011.

MLS says 22500 sales were made within this period in Québec.

“MLS sales in Québec were driven by low mortgage rates. Rates have already reached a sixty-years low, and by early part of the year, financial institutions proposed the lowest promotional medium and long-term mortgage rates ever offered before” says Paul Cardinal, director of market analysis for the Québec Federation of Real Estate Boards (FCIQ).

According to MLS, transactions have increased 7% in Québec residential property in the first trimester of the year compared to the same period last year. 22 500 sales were made then.

Median price for single-family homes reaches 268.000$ in Montréal, where sales now decreased by 5%.

Strongest rises in selling prices in the first quarter of the year were in Saguenay, Québec and Trois-Rivières areas.