Real Estate News
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A Remarkable Month of August in Quebec City: Sales are in High Gear, Conditions Shift to a Seller’s Market and Prices Increase
Quebec City, September 4, 2020 – The Quebec Professional Association of Real Estate Brokers (QPAREB) has just released its most recent residential real estate market statistics for the Quebec City Census Metropolitan Area (CMA), based on the real estate brokers’ Centris provincial database.
In total, 831 residential sales transactions were concluded in August 2020. This represents a remarkable 62 per cent increase compared to August of last year and the largest sales increase among the province’s six metropolitan areas.
“Cumulatively since the start of the year, sales in the Quebec City CMA have increased by 19 per cent compared to the same period last year. The Quebec City market is on a roll that has not been slowed down by the pandemic – quite the contrary, in fact!” said Julie Saucier, president and chief executive officer of the QPAREB. “A combination of factors already favourable to the recovery of the Quebec City market and the ultimately positive effect of the pandemic on residential real estate and on the savings rate of many households in the area are intensifying the popularity of residential properties, which are increasingly associated with a safe haven and an essential good.”
Sales by geographic area
- The Northern Periphery of Quebec City stood out from the two other main areas of the CMA in August, as transactions doubled compared to the same month last year (122 sales).
- The increase in sales was also notable in the Agglomeration of Quebec City, at 65 per cent (535 transactions).
- The South Shore of Quebec City registered a slightly more moderate increase in transactions at 37 per cent (174 sales).
Sales by property category
- In August, all three property categories registered the highest number of transactions ever recorded for a month of August since the Centris system began compiling market data (2000).
- Sales of single-family homes posted a solid increase of 62 per cent, with a total of 559 transactions. It should be noted that single-family home transactions at a price above $500,000 jumped by 63 per cent compared to August of last year (44 sales).
- As for condominiums, 207 transactions were concluded in August, a 52 per cent increase year over year.
- With this excellent level of sales, it would take 7.4 months to sell the entire inventory of single-family homes for sale, which is 2.8 months less than at the same period last year. Note that market conditions for single-family homes now give sellers the upper hand in the Quebec City CMA but conditions for condominiums continue to give buyers the upper hand, with an inventory representing 11.6 months of sales.
Prices
- The median price of single-family homes across the CMA increased by 6 per cent compared to August of last year, reaching $275,000.
- After registering four consecutive monthly decreases, the median price of condominiums finally rebounded by 4 per cent, as half of all transactions were concluded at more than $199,000.
Number of properties for sale
In August, there were 4,973 active residential listings in the Quebec City CMA, a 33 per cent drop compared to August of last year. This particularly sharp decrease can be explained by a rapid acceleration in sales growth since the start of the year and a decrease in new listings.
For August 2020 and year-to-date statistics charts, click here.
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.ca is Quebec’s real estate industry website for consumers, grouping all properties for sale by a real estate broker under the same address. Société Centris provides real estate industry stakeholders with access to real estate data and a wide range of technology tools. Centris also manages the collaboration system used by more than 13,000 real estate brokers in Quebec.
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No Summer Respite for Montreal’s Residential Real Estate Market as Sales and Prices Set New Records
L’Île-des-Sœurs, September 4, 2020 – The Quebec Professional Association of Real Estate Brokers (QPAREB) has just released its most recent residential real estate market statistics for the Montreal Census Metropolitan Area (CMA), based on the real estate brokers’ Centris provincial database.
In total, 4,878 residential sales transactions were concluded in August 2020. This represents a 39 per cent increase compared to August of last year and the highest number of transactions ever recorded for a month of August since the Centris system began compiling market data (2000).
“The loss of transactions due to the confinement period in early spring have almost all been recovered thanks to phenomenal sales activity in July and August, which are usually among the quietest months of the year,” said Julie. Saucier, president and chief executive officer of the QPAREB. “The pandemic is clearly having an unexpected impact on buyer behaviour as there is a renewed interest in buying properties, particularly single-family homes. Against all expectations, this enthusiasm is supported by a notable increase in the savings rate of many buyers in recent months. The situation is particularly present in the suburbs, where cases of overbidding are increasing and market conditions are still extremely favourable to sellers,” she added.
Sales by geographic area
Geographically, all six of the Montreal CMA’s main areas registered a remarkable increase in sales in August. Vaudreuil-Soulanges, the North Shore and Laval led the way with respective increases of 62, 51 and 48 per cent, compared to August of last year. The South Shore (+39 per cent), the Island of Montreal (+29 per cent) and Saint-Jean-sur-Richelieu (+17 per cent) also performed well.
Sales by property category
Across the CMA, single-family home sales (2,601 transactions) registered the largest increase at 47 per cent. Condominium sales jumped by 36 per cent (1,861 transactions), while sales of plexes (two to five dwellings) rose by 12 per cent (410 transactions).
Prices
Property prices surged across the CMA in August for all three property categories.
The median price of single-family homes increased by 24 per cent compared to August of last year, reaching $427,500. This was the highest increase ever recorded since Centris began compiling statistics. It should be noted that single-family home sales above $1 million more than doubled compared to August of last year (+136 per cent), which had an impact on the increase in median price.
The median price of condominiums stood at $312,000, a 12 per cent increase compared to August 2019, while the median price of plexes stood at $599,500, a 13 per cent increase.
Number of properties for sale
With 12,953 active residential listings in the Centris system, the number of properties for sale continued to drop, falling by 21 per cent year over year. The last time there was a similar level of active listings in the Montreal CMA was back in August of 2003.
For August 2020 and year-to-date statistics charts, click here.
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.ca is Quebec’s real estate industry website for consumers, grouping all properties for sale by a real estate broker under the same address. Société Centris provides real estate industry stakeholders with access to real estate data and a wide range of technology tools. Centris also manages the collaboration system used by more than 13,000 real estate brokers in Quebec.
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Quebec City Real Estate Market: Sales Remain High While Active Listings Decrease Sharply
Quebec City, August 6, 2020 – The Quebec Professional Association of Real Estate Brokers (QPAREB) has just released its most recent residential real estate market statistics for the Quebec City Census Metropolitan Area (CMA), based on the real estate brokers’ Centris provincial database.
In total, 899 residential sales transactions were concluded in July 2020, a 43 per cent increase compared to July of last year. This rise in sales followed an already significant rebound in transactions in June, after the lifting of exceptional measures aimed at containing the spread of the new coronavirus.
“Property sales in the Quebec City area are maintaining a strong pace, which is starting to translate into a pronounced decline in active listings, accentuated by a drop in new listings,” said Julie Saucier, president and chief executive officer of the QPAREB. “As we had anticipated, this situation is causing a faster tightening of market conditions in favour of sellers in several sectors, particularly for single-family homes.”
Sales by geographic area
- Sales growth accelerated in all three main areas of the Quebec City CMA in July, thereby confirming the momentum that was observed in the spring.
- The northern periphery of Quebec City attracted particular attention, as sales jumped by 73 per cent compared to July of last year.
- The agglomeration of Quebec City and the South Shore of Quebec City both registered an impressive 39 per cent increase in sales.
Sales by property category
- Sales of single-family homes rose substantially in July (+38 per cent), with a total of 616 transactions. During the month, there were 2,930 active listings, which is significantly less than in July of last year (‑33 per cent).
- Again this month, sales of condominiums (216 transactions) increased significantly, growing by 55 per cent year-over-year. At the same time, the average selling time fell to 161 days, which is four days less than in July of last year.
Prices
Across the CMA, the median price of single-family homes increased by 4 per cent compared to July of last year, reaching $275,000.
- The median price of condominiums decreased for the fourth consecutive month, falling to $190,000 (‑6 per cent). Most transactions (178) took place in the agglomeration of Quebec City, where the median price reached $192,000, a drop of 9 per cent compared to July of 2019.
Number of properties for sale
In July, there were 5,233 active residential listings in the Quebec City CMA, a much lower level (-29 per cent) than in July of last year.
For July 2020 and year-to-date statistics charts, click here.
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.ca is Quebec’s real estate industry website for consumers, grouping all properties for sale by a real estate broker under the same address. Société Centris provides real estate industry stakeholders with access to real estate data and a wide range of technology tools. Centris also manages the collaboration system used by more than 13,000 real estate brokers in Quebec.
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In July, the Rebound in Sales and Listings Extended to All Areas of the Montreal CMA
L’Île-des-Sœurs, August 6, 2020 – The Quebec Professional Association of Real Estate Brokers (QPAREB) has just released its most recent residential real estate market statistics for the Montreal Census Metropolitan Area (CMA), based on the real estate brokers’ Centris provincial database.
In total, 5,356 residential sales transactions were concluded in July 2020, a 46 per cent increase compared to July of last year and a new sales record for a month of July. In a continuation of what was observed in June, the catching-up of transactions that could not be concluded in early spring due to the measures aimed at reducing the spread of the new coronavirus largely explains the extension of this sales rebound into July.
“The resumption of transactions is gaining strength in Montreal, as is – to a lesser extent – the resumption of new listings, which does not suggest a significant relaxing of market conditions for the time being,” said Julie Saucier, president and chief executive officer of the QPAREB. “Conditions remained very favourable for sellers in July with prices still rising sharply,” she added.
Sales by geographic area
- All six main areas of the Montreal CMA registered a significant increase in sales compared to July of last year, with particularly impressive increases on the North Shore of Montreal (+84 per cent) and in Vaudreuil-Soulanges (+65 per cent).
- Thus, the peripheral markets of the CMA continue to benefit from a significant surge in interest, which has increased in the context of the health crisis. The areas of Saint-Jean-sur-Richelieu and the South Shore of Montreal also registered a strong rebound in transactions of 51 per cent and 41 per cent, respectively, followed by Laval with an increase of 33 per cent.
- Sales on the Island of Montreal have also resumed much more sustained activity since the start of the pandemic, posting a 31 per cent increase in transactions year-over-year.
Sales by property category
- Across the CMA, single-family homes were the property category that posted the largest sales increase in July, with a 48 per cent jump in transactions.
- Sales of condominiums and plexes also increased considerably, rising by 45 per cent and 34 per cent, respectively.
- Selling times decreased for all three property categories in July. On average, it took only 41 days for a condominium to sell, which is 30 days less than in July of last year. The amount of time it took to sell a single-family home (57 days) and a plex (71 days) fell by 6 days and 7 days, respectively.
Prices
- Price increases were particularly strong in July for all three property categories.
- Across the CMA, the median price of single-family homes reached $423,000, an 18 per cent increase compared to July of last year.
- The median price of condominiums rose by 12 per cent to reach $312,000, while that of plex increased by 7 per cent to reach $624,900.
Number of properties for sale
In terms of the supply of properties for sale, the 5,960 new listings in July represented a 38 per cent increase compared to July of last year and a reversal of trend after six consecutive years of declines in the month of July. The last time a similar number was observed was back in July 2014, at the time of the last peak (5,588). In contrast, there were 12,803 active residential listings on the Centris system in July, a 24 per cent drop compared to one year earlier.
For July 2020 and year-to-date statistics charts, click here.
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.ca is Quebec’s real estate industry website for consumers, grouping all properties for sale by a real estate broker under the same address. Société Centris provides real estate industry stakeholders with access to real estate data and a wide range of technology tools. Centris also manages the collaboration system used by more than 13,000 real estate brokers in Quebec.
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The Commercial Brokers of Cushman & Wakefield Join the QPAREB
L’Île-des-Sœurs, July 22, 2020 – The Quebec Professional Association of Real Estate Brokers (QPAREB) announces that it welcomed some 40 brokers from the commercial real estate services provider Cushman & Wakefield.
“We are very proud of the arrival of this organization, which has allowed us to further diversify our membership and strengthen the commercial profile of our association,” said Julie Saucier, President and Chief Executive Officer of the QPAREB.
Cushman & Wakefield, one of the largest global real estate services companies with close to 53,000 employees in approximately 400 offices in 60 countries around the world, has two offices in Quebec, one in downtown Montreal and the other in the borough of Saint-Laurent.
“We’re excited to partner with the QPAREB as they continue to grow their presence across the province,” said Luciano D’Iorio, Managing Director, Cushman & Wakefield Quebec. “Our membership in the QPAREB also gives us access to the Centris platform, which provides additional exposure of Cushman & Wakefield’s listings to a vast network of professional brokers who can collaborate with us to meet our clients’ real estate needs. It’s a winning strategy for all parties involved.”
Cushman & Wakefield thus joins a large network of commercial real estate brokers who are members of the QPAREB. It should be noted that the QPAREB has a group of commercial real estate brokers made up of nearly 1,000 members. This group regularly organizes training and networking activities to help commercial brokers keep their knowledge up to date and develop their network of contacts.
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Chute des ventes et des inscriptions dans l’agglomération de Saint-Hyacinthe au deuxième trimestre de 2020
L’Île-des-Sœurs, le 16 juillet 2020 — L’Association professionnelle des courtiers immobiliers du Québec (APCIQ) vient de publier les plus récentes statistiques du marché immobilier résidentiel de l’agglomération de Saint-Hyacinthe, établies d’après la base de données provinciale Centris des courtiers immobiliers.
Ainsi, 152 ventes résidentielles ont été réalisées au cours du deuxième trimestre de 2020, soit une diminution de 28 % par rapport à la même période en 2019, essentiellement attribuable aux mesures visant à réduire la propagation de la COVID-19.
Les 97 ventes de maisons unifamiliales conclues d’avril à juin 2020 représentent un recul de 28 % comparativement à la même période l’année dernière. De leur côté, pour la même période comparée, les ventes de copropriétés ont connu une baisse de 38 %, avec seulement 31 transactions. En revanche, les ventes de petits immeubles locatifs de deux à cinq logements sont passées de 25 transactions, au deuxième trimestre de 2019, à 23, au deuxième trimestre de cette année.
En ce qui a trait aux prix, des hausses substantielles ont été enregistrées pour la période d’avril à juin. Le prix médian des unifamiliales a augmenté de 11 % en douze mois, pour s’élever à 274 500 $.
La copropriété a quant à elle affiché une croissance de 10 % à ce chapitre, avec un prix médian de 190 000 $.Les délais de vente moyens, pour l’unifamiliale et la copropriété, étaient respectivement de 69 jours et 66 jours, soit une baisse de -16 jours et de -11 jours. Le marché immobilier s’est rapidement resserré depuis un an dans la région de Saint-Hyacinthe, avec seulement 4,1 mois d’inventaire pour les maisons unifamiliales et 2,7 mois pour les copropriétés. Dans ce contexte, les délais de vente se raccourcissent et les prix bondissent pour ces deux catégories de propriétés.
« En raison de l’incertitude liée à la crise sanitaire ainsi que des mesures visant à limiter la propagation du virus décrétées par le gouvernement, l’offre de propriétés à vendre a continué de diminuer fortement pour un onzième trimestre consécutif, ce qui a contribué à un resserrement supplémentaire des conditions de marché en faveur des vendeurs malgré la chute des ventes », constate Julie Saucier, présidente et chef de la direction de l’APCIQ. « D’avril à juin 2020, on comptait en moyenne 167 inscriptions au système Centris des courtiers immobiliers, soit une baisse de près de la moitié comparé à un an plus tôt (-49 %) », ajoute-t-elle.
Pour consulter les statistiques du marché pour l’ensemble de la province, cliquez ici.