Quebec City Real Estate Market: Residential Sales and Prices Set New Records in November

QUEBEC CITY, Dec. 03, 2020 (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 November, based on the real estate brokers’ Centris provincial database.

The month of November was marked by a rapid increase in prices for all three property categories, in all sectors of the Quebec City CMA.

“The exceptional pace of single-family home sales extended to condominiums and plexes, which improved market conditions. Despite the current context, it is still a good time to buy!" said Charles Brant, director of market analysis at the QPAREB.

November highlights

• Residential sales set a new record in November, jumping by 50 per cent, with a total of 1,019 transactions.
• There was impressive sales growth, particularly in the Norther Periphery, with a spectacular increase of 127 per cent. This was followed by the South Shore (+45 per cent) and the agglomeration of Quebec City (+41 per cent).
• All three property categories posted record sales increases in November: plexes with 2 to 5 dwellings (+91 per cent), condominiums (+82 per cent) and single-family homes (+36 per cent).
• There was a historic drop in active listings for an eighth consecutive month for single-family homes (53 per cent) and plexes (-42 per cent). Active listings of condominiums fell by 25 per cent.
• Median prices increased for all three property categories: +18 per cent for plexes, +8 per cent for condominiums and +7 per cent for single-family homes. This represents a new record for plexes ($335,000) and single-family homes ($279,000). As for condominiums, the median price stood at $203,950. 

Additional information:

Quarterly statistics – Barometer for the province of Quebec
Detailed and cumulative (2020) 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.

Book your interview for December 16!

On December 16, the QPAREB will unveil its assessment of the 2020 real estate market, along with its forecasts for 2021 and an analysis of the impact of COVID-19. A press release will be issued on November 16. Please reserve your time slot for an interview now at [email protected].

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

Société Centris provides real estate industry stakeholders with access to real estate data and a wide range of technology tools. Centris tools are used by close to 14,000 real estate brokers, as well as other industry professionals. Centris also operates Centris.ca, the most visited real estate website in Quebec.

For more information:

Image bank (credit QPAREB) available free of charge.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a8752db2-b7f0-4b06-8c31-315bee985efd