Quebec real estate market
Home Sales – June 2021
QUEBEC, July 6, 2021 (GLOBAL NEWS) – The Quebec Professional Association of Real Estate Brokers (QPAREB) has just released statistics for the residential real estate market for Quebec Metropolitan Area (CMA) June based on Centris Provincial Real Estate Brokers Database.
“The Quebec City CMA recorded the first significant drop in single-family home sales after record activity for 13 consecutive months. The main factor holding back sales in the Quebec market is the rapid drop in the number of active offers, which has affected all categories of real estate over the past 12 months. The stock of single-family homes for sale has been cut in half, leading to overheating.one market and strong upward pressure on prices, ”said Charles Brunt, director of market analysis at QPAREB. “Rapid price increases and the federal government’s measures to calm the market and limit consumer creditworthiness also played a role, albeit marginal to other CMAs in the province, where price increases were almost double that of prices. Quebec City in the past 12 months, ”he added.
Highlights of June
In total, 738 home sales transactions were made in CMA Quebec in June, which is significantly lower (-20 percent) than in June last year. We are no longer seeing record sales levels due to shrinking listings. The smallest decline in sales was recorded in the South Coast of Quebec (-16% compared to June last year), followed by the Agglomeration of Quebec (-18%).
In the Northern Periphery of Quebec, sales fell 32%.
In June, 69 complex transactions (+ 13%) were concluded by categories of real estate, which is a record for this category of real estate. A total of 210 condominium deals were concluded (-2%), which represents a relatively high level of activity by historical standards for this category. Single-family home sales (457 transactions) were down 29 percent from June last year.
The supply of single-family homes for sale fell sharply (-51%) compared to June last year, further tightening market conditions in favor of sellers and creating overheating and overpricing situations in some areas. For condominiums and plexuses, active listings fell 35% and 4%, respectively.
The average price of single-family homes in CMA Quebec continued to rise, reaching $ 310,000, up 14 percent from a year earlier. The average price of condominiums and residential complexes rose to $ 207,500 (+ 8 percent) and $ 391,000 (+33 percent), respectively.
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About the Quebec Professional Association of Real Estate Brokers
The Quebec Professional Association of Real Estate Brokers (QPAREB) is a non-profit association of over 13,000 real estate brokers and agencies. He is responsible for promoting and protecting their interests, taking into account the challenges facing the profession and the different professional and regional realities of its members. QPAREB also plays an important role in many real estate dossiers, including the implementation of measures to promote the development of home ownership. The association reports statistics on the Quebec residential real estate market, provides training, tools and services related to real estate, and facilitates the collection, dissemination and exchange of information. QPAREB is headquartered in Quebec with administrative offices in Montreal. It has two subsidiaries: Centris Inc. and Collège de l’immobilier du Québec. Follow his activities on qpareb.ca or through his social media pages: Facebook, LinkedIn, Twitter as well as Instagram…
Centris is a dynamic and innovative technology company in the real estate sector. It collects data and offers solutions tailored to the needs of professionals. Among these solutions are Centris.ca, the most visited real estate site in Quebec.
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one Overheating occurs when, during a certain period and in a given market, the ratio of the number of objects sold to the number of new objects put on the market exceeds 70%, that is, when there are more than 7 objects for each object sold. 10 new ads.
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