L’Île-des-Sœurs, January 31, 2020 — The Quebec Professional Association of Real Estate Brokers (QPAREB) has released its most recent residential real estate market statistics for the province of Quebec, based on the real estate brokers’ Centris provincial database.
The year 2019 ended on a high note as 22,260 transactions were concluded in the province of Quebec in the fourth quarter of the year. This is a 19 per cent increase compared to the fourth quarter of 2018.
For the year 2019 as a whole, 96,507 transactions were concluded, a 12 per cent jump compared to 2018. The was the fifth consecutive annual increase in sales, and a new record that surpassed the 86,450 transactions that were concluded in 2018.
Condominiums stood out with a 22 per cent increase in sales, while sales of single-family homes and plexes registered gains of 17 per cent and 21 per cent, respectively.
Among the province’s metropolitan areas, Trois-Rivières (+24 per cent), Quebec City (+16 per cent), Saguenay (+16 per cent) and Gatineau (+15 per cent) stood out with significant increases in sales. Solid increases were also registered in Montreal (+10 per cent) and Sherbrooke (+7 per cent).
In the province’s smaller urban centres, spectacular sales increases were seen in the following agglomerations: Sainte-Marie (+39 per cent), Joliette (+37 per cent), Victoriaville (+26 per cent), Granby (+24 per cent), Saint-Sauveur (+23 per cent), as well as Saint-Georges, Drummondville, Mont-Laurier and Rimouski (+20 per cent).
From January to December 2019, there was an average of 56,731 active listings in the Centris system, a 12 per cent drop compared to 2018. This was the fourth consecutive annual decrease in active listings.
The supply of properties for sale fell in almost all regions of the province, with the exception of Mont-Laurier (+8 per cent), Rawdon (+6 per cent), Sept-Îles and Lachute (+5 per cent), as well as Amos (+2 per cent).
The median price of single-family homes across the province stood at $260,000, a 4 per cent increase compared to 2018, while the median price of plexes (2 to 5 dwellings) stood at $420,000, also an increase of 4 per The increase in the median price of condominiums was slightly smaller at 3 per cent, reaching $245,000.
Significant increases in the median price of single-family homes were registered in the agglomerations of La Tuque (+13 per cent), Sainte-Adèle (+10 per cent), Saint-Georges (+9 per cent), Salaberry-de-Valleyfield (+8 per cent) and Saint-Hyacinthe (+8 per cent), reaching $115,000, $245,000, $164,250, $201,314 and $247,500, respectively.
As for condominiums, the agglomeration of Drummondville took the lead with a spectacular 27 per cent jump in median price, reaching $190,000. In contrast, the agglomeration with the largest decrease in the median price of condominiums was Mont-Tremblant (-3 per cent), reaching $249,000.
The median price of plexes rose significantly in the agglomerations of Sainte-Agathe-des-Monts and Victoriaville (+37 per cent), as well as Joliette (+13 per cent).
Market conditions and selling times
Once again, market conditions tightened in the vast majority of areas in the province.
Selling times across Quebec shortened compared to 2018: it took an average of 98 days (-9 days) for a single-family home to sell, 93 days (-18 days) for a condominium to sell and 95 days (-3 days) for a plex to sell.
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 12,700 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, Instagram and Twitter.