L’ILE-DES-SŒURS, Quebec, July 19, 2021 (GLOBE NEWSWIRE) – The Quebec Professional Association of Real Estate Brokers (QPAREB) has just released quarterly residential real estate market statistics for province of Quebecbased on the provincial Centris database of real estate brokers.
In total, Quebec had 31,899 home sales in the second quarter of the year, up 45 percent from the second quarter of last year, when the pandemic seriously hampered sales and fell 24 percent. However, the number of transactions in the second quarter of this year represents a new record for sales in the second quarter.
“A year after the blocking measures that led to a sharp drop in residential property sales, it is clear that the market has more than recovered: it experienced a phenomenal acceleration and demonstrated record sales and price increases. But even though records were still set in the second quarter of 2021, sales growth has slowed, ”said Charles Brunt, director of market analysis at QPAREB.one in most markets across the province, it is starting to worry many industry observers. However, this level of activity is not sustainable, given record increases in prices for all property categories and a widespread shortage of single-family homes and, to a lesser extent, condominiums. Affordability issues stemming from the trend towards a slight increase in mortgage interest rates, the implementation of measures to calm the market, and the impact of the end of the health crisis on savings and household behavior suggest that sales will decline. before the end of the year, ”he added.
Here are the highlights of the second quarter of 2021.
By property category, sales of single-family homes in Quebec rose 28%, with 19,842 transactions in the second quarter of this year. This is similar to the 19,327 trades that were closed in the second quarter of 2019. Single-family home sales fell 20 percent in the second quarter of 2020.
Condominium sales jumped 76% with 8,377 deals. In the second quarter of last year, this property category recorded a significant decline, down 34% from 7,230 sales completed in 2019.
Plex sales were particularly strong in the second quarter of this year in Quebec, where there were 3,505 transactions, up 119% from the second quarter of last year. Due to the pandemic, Plexiglass sales fell 33% in the second quarter of last year, dropping from 2,391 sales in the second quarter of 2019 to 1,604 sales in the second quarter of 2020.
Among the metropolitan areas of the province Montreal CMA recorded a steady increase in sales (60%), which is primarily attributable to the impact of the pandemic in the past year. In the second quarter of last year, the Montreal CMA recorded a 36 percent drop in sales, compared with an average of -19 percent for the province’s five other metropolitan areas.
In contrast to the first quarter of 2021, the largest sales growth (53%) in the second quarter was in the metropolitan areas, while the areas outside the metropolitan areas saw a noticeable but more moderate growth (28%). ). It should be noted that these two market groups were differently impacted by the drop in sales in Q2 2020: -31% for CMA and -6% for more peripheral regions.
Among the metropolitan areas with the highest sales growth in the second quarter of 2021 Mont-Tremblant (+ 125%), Salaberry-de-Valleyfield (+72 percent), Riviere du Loup (+ 67%) and Shavinigan (+56 percent).
The number of active listings on Centris continued to decline sharply in the second quarter to 26,817, down 36 percent from last year’s second quarter.
With more than one-third of single-family home transactions at above the asking price, the average price for this property category rose to $ 373,000 in the second quarter of 2021, up 35 percent from the second quarter. quarter of last year.
The average condominium price also rose significantly, by 31 percent, to $ 335,000.
The average home price (2 to 5 homes) also followed this trend, jumping 23 percent to $ 470,000.
Market conditions and time of sale
The decline in properties for sale continued across the province and reached an all-time low, with stocks on the market less than three months in the second quarter of 2021, for the first time since Centris began collecting market data. However, the slowdown in sales seen in June could help reverse that trend in the third quarter.
The increase in sales times across the province continued in the second quarter, with all property categories combined taking an average of 48 days to sell. That’s 55 days less than Q2 2020 and the lowest selling time ever.
Click here to view market statistics for the entire province.
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 home ownership. The association reports on the statistics of 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.
Click on the links below for regional press releases:
RMR de Gatineau
RMR de Sherbrooke
RMR de Saguenay
RMR de Trois-Rivières
Agglomération de Joliette
Agglomérations des Laurentides
Agglomeration of Saint-Hyacinth
Agglomeration of Drummondville and Victoria
Agglomeration of Val d’Or and Rouen Noranda
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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.