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Quebec City CMA: Acceleration in Overall Prices in a Context of Catch-Up and Overheating

Association professionnelle des courtiers immobiliers du Québec
·4 min read

Quebec City Real Estate Market

Residential Sales – April 2021
Residential Sales – April 2021
Residential Sales – April 2021

QUEBEC CITY, May 05, 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 April, based on the real estate brokers’ Centris provincial database.

  • Important note: several statistics for April 2020 are not representative due to the exceptional pause in transactional activities and new property listings during this period. April 2019 statistics are used in calculating variations (for informational purposes). However, April 2020 remains a valid reference in determining variations in median prices and active listings.

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“The rebound in the number of new listings of single-family properties in March resulted in a sustained increase in transaction activity in April,” notes Charles Brant, director of market analysis. “All property categories in the Quebec City CMA are now being taken by storm by buyers aware of the potential for property prices to rise in this market,” he adds.

April highlights

  • Total sales: a new record of 1,091 sales, the highest number recorded in April since the real estate brokers’ Centris system began compiling market statistics. This record should, however, be put into perspective as the level of activity is generally more moderate than in March 2021.

  • The northern periphery of Quebec City continues to post a record level of activity for this period of the year with 149 sales (+26 per cent compared to April 2019), followed by the agglomeration of Quebec City with 762 sales (+18 per cent compared to April 2019). The South Shore of Quebec City recorded 180 sales, an increase of +29 per cent compared to April 2019.

  • Sales by property category: historic levels for April, with 308 condominium sales (+51 per cent compared to April 2019) and 98 plex sales (+92 per cent compared to April 2019). Sales of single-family homes (685 sales) approached the level of April 2019 with an increase of only 6 per cent.

  • Compared to April 2020, active listings of single-family homes continue their record drop (-54 per cent), which tightened market conditions in favour of sellers and contributed to overheating and overbidding in several sectors. Plexes and condominiums saw respective decreases of 15 per cent and 36 per cent.

  • The median price of single-family homes continues to experience an unprecedented acceleration in Quebec City: +21 per cent to reach $315,000. Condominiums and plexes respectively reached $203,000 (+10 per cent) and $360,000 (+12 per cent).

Additional information:

Quarterly statistics – Barometer for the province of Quebec

Detailed and cumulative statistics for the province and regions

For reference, consult the monthly statistics:

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/cb82c15e-e9b6-4870-a6fb-25a49e42b762