Quebec’s Real Estate Market Performed Well in 2020 With Historic Sales Records

L’ÎLE-DES-SOEURS, Quebec, Jan. 15, 2021 (GLOBE NEWSWIRE) — The Quebec Professional Association of Real Estate Brokers (QPAREB) has just released its residential real estate market statistics for the province of Quebec, based on the real estate brokers’ Centris provincial database.
In total, 112,476 residential sales transactions were concluded in 2020 in the province of Quebec. This represents a 17 per cent increase compared to 2019. It was also the highest number of sales ever registered since the real estate brokers’ Centris system began compiling market data in the year 2000.“The fourth quarter brought an extraordinary year to a close, one marked by an unprecedented health crisis. Exceptional government financial assistance programs, rock-bottom interest rates, a renewed interest in acquiring a property adapted to the new reality of teleworking, as well as new needs have helped accelerate the increase in transactions beyond large urban areas,” said Charles Brant, director of market analysis at the QPAREB. “This has further reduced the already limited number of properties for sale on the market, pushing property prices to levels never before seen across the province,” he added.Here are some of the highlights of 2020.SalesBy property category, single-family homes stood out with a significant 18 per cent increase in sales across the province. Sales of plexes and condominiums also registered strong increases of 17 per cent and 13 per cent, respectively.Among the province’s metropolitan areas, Quebec City (+28 per cent), Sherbrooke (+22 per cent) and Gatineau (+15 per cent) registered the largest increases in sales.Overall, sales in regions outside of the metropolitan areas experienced an even more dramatic increase in sales (+31 per cent), all property categories combined.More specifically, several small urban resort areas registered phenomenal sales increases in 2020, including the agglomerations of Charlevoix (+94 per cent), Sainte-Agathe-des-Monts (+64 per cent), Mont-Tremblant (+59 per cent) and Sainte-Adèle (+57 per cent).Active listingsThere was an average of 39,848 active listings on the Centris system in Quebec in 2020, a 29 per cent drop compared to 2019. This was the fifth consecutive annual decrease in active listings.
PricesThe median price of single-family homes in Quebec stood at $295,000 in 2020, up 13 per cent compared to 2019.The median price of condominiums also registered a notable increase, rising by 11 per cent to reach $272,000.The median price of plexes (2 to 5 dwellings) remained relatively stable compared to 2019, inching up by 1 per cent to reach $425,000.Market conditions and selling timesMarket conditions tightened in the vast majority of areas of the province. Many agglomerations located outside of the metropolitan areas experienced the most rapid tightening of market conditions in favour of sellers.Selling times across the province shortened compared to 2019: for all property categories combined, it took an average of 86 days for a property to sell (-11 days).In the context of the current pandemic, the QPAREB reminds you that working with a real estate broker means more security and less stress, as all members are subject to the Real Estate Brokerage Act as well as strict rules and a code of conduct. Learn more about the health measures that are in effect.Additional information:Quarterly statistics – Barometer for the province of QuebecDetailed monthly and 2020 cumulative statistics for the province and its regionsAbout the Quebec Professional Association of Real Estate BrokersThe 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 CentrisSociété 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.Click on the links below to consult the regional press releases:Montreal CMA
Quebec City CMA
RMR de Gatineau
RMR de Sherbrooke
RMR de Saguenay
RMR de Trois-Rivières
Agglomération de Granby
Agglomération de Joliette
Agglomérations des Laurentides
Agglomération de Saint-Hyacinthe
Agglomération de Drummondville et de Victoriaville
Agglomération de Val-d’Or et de Rouyn-Noranda
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
[email protected]


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