Yahoo Finance February Marks a New Sales Record in Quebec City: Condominium Sales Soar
Quebec City Real Estate Market
Residential Sales – February 2021
QUEBEC CITY, March 02, 2021 (GLOBE NEWSWIRE) -- The Quebec Professional Association of Real Estate Brokers (QPAREB) has just released its residential real estate market statistics for the Quebec City Census Metropolitan Area (CMA) for the month of February, based on the real estate brokers’ Centris provincial database.
"The decrease in active listings continued in February with a record-setting drop for single-family homes (-61 per cent) but also for condominiums (-32 per cent). This latter property category outperformed single-family homes in terms of sales, as condo transactions jumped by 50 per cent, tipping condominium market conditions in favour of sellers for the first time since October 2011,” said Charles Brant, director of market analysis at the QPAREB.
February highlights
Total sales: up by 6 per cent in February (1,168 transactions), a new sales record compared to February of 2020, which was an exceptional month.
The areas on the periphery of the Agglomeration of Quebec City continued to post record sales, particularly the Northern Periphery with 148 transactions (+30 per cent), followed by the South Shore with 225 transactions (+7 per cent). The Agglomeration of Quebec City registered a 2 per cent increase in sales with 795 transactions.
Sales by property category: historical sales levels for a month of February with 95 plex transactions (+48 per cent) and 379 condominium transactions (+50 per cent). Sales of single-family homes were the exception, with 693 sales, a decrease of 11 per cent.
Active listings once again registered a record-setting drop for single-family homes (-61 per cent) and plexes (-41 per cent). The 32 per cent decrease for condominiums shifted market conditions in favour of sellers for this property category.
Under pressure, the median price of single-family homes increased by 13 per cent, while that of plexes rose by 16 per cent. The median price of condominiums grew by 4 per cent.
Additional information:
Quarterly statistics – Barometer for the province of Quebec
Detailed and cumulative statistics for the province and regions
If you would like additional information from the Market Analysis Department, such as specific data or regional details on the real estate market, please write to us.
About the Quebec Professional Association of Real Estate Brokers
The Quebec Professional Association of Real Estate Brokers (QPAREB) is a non-profit association that brings together more than 13,000 real estate brokers and agencies. It is responsible for promoting and defending their interests while taking into account the issues facing the profession and the various professional and regional realities of its members. The QPAREB is also an important player in many real estate dossiers, including the implementation of measures that promote homeownership. The Association reports on Quebec's residential real estate market statistics, provides training, tools and services relating to real estate, and facilitates the collection, dissemination and exchange of information. The QPAREB is headquartered in Quebec City and has its administrative offices in Montreal. It has two subsidiaries: Centris Inc. and the Collège de l'immobilier du Québec. Follow its activities at qpareb.ca or via its social media pages: Facebook, LinkedIn, Twitter and Instagram.
About Centris
Centris is a dynamic and innovative technology company in the real estate sector. It collects data and offers solutions that are highly adapted to the needs of professionals. Among these solutions is Centris.ca, the most visited real estate website in Quebec.
For more information:
Image bank (credit QPAREB) available free of charge.
Marjolaine Beaulieu
Publicist
Communications and Marketing
1-888-762-2440 or
514-762-2440, ext. 238
media@qpareb.ca
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8b3ed2ce-d2a0-42c0-92a8-8ff8dac5de9a
