QUEBEC CITY, Aug. 04, 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 July, based on the real estate brokers’ Centris provincial database.
“The slowdown in residential sales in the Quebec City CMA, which began in June, continued into July with a decrease of almost 50 per cent in the number of single-family home transactions compared to an extraordinary month of July last year,” said Charles Brant, director of the QPAREB’s Market Analysis Department. “More than the tightening of borrowing conditions for potential buyers and the rise in prices, it is the lack of supply of properties on the market and a more normal summer period that explain this sharp drop in sales,” he added.
- Sales: In total, 539 residential sales transactions were concluded in the Quebec City CMA in July, a 40 per cent decrease compared to July of last year. The Northern Periphery of the city registered the largest drop in sales in the region, falling by 50 per cent. The Agglomeration of Quebec City and the South Shore of Quebec City also registered substantial decreases in sales of 37 per cent and 38 per cent, respectively.
- Sales by property category: After a record-setting month of June, two-to-five unit income properties (plexes) saw their sales decrease by 35 per cent compared to July of last year. Condominium sales were down 24 per cent year over year.
- Active listings: Market conditions remained particularly tight for single-family homes in the CMA, as active listings fell by 49 per cent compared to July of last year. A similar trend was observed for condominiums, as active listing dropped by 36 per cent. Plexes, on the other hand, registered a 4 per cent increase in active listings.
- Median price: The median price of single-family homes continued to grow, increasing by 15 per cent compared to July of last year to reach $315,000. The median price of condominiums also rose significantly, reaching $212,250, an 11 per cent increase. However, plexes saw their median price drop by 6 per cent, with half of them selling for more than $329,500.
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.
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.
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