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.
Sales
By 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 listings
There 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.
Prices
The 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 times
Market 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.
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.
Click on the links below to consult the regional press releases:
OTTAWA – The Canadian Real Estate Association says the number of homes sold in August fell compared with a year ago as the market remained largely stuck in a holding pattern despite borrowing costs beginning to come down.
The association says the number of homes sold in August fell 2.1 per cent compared with the same month last year.
On a seasonally adjusted month-over-month basis, national home sales edged up 1.3 per cent from July.
CREA senior economist Shaun Cathcart says that with forecasts of lower interest rates throughout the rest of this year and into 2025, “it makes sense that prospective buyers might continue to hold off for improved affordability, especially since prices are still well behaved in most of the country.”
The national average sale price for August amounted to $649,100, a 0.1 per cent increase compared with a year earlier.
The number of newly listed properties was up 1.1 per cent month-over-month.
This report by The Canadian Press was first published Sept. 16, 2024.
MONTREAL – Two Quebec real estate brokers are facing fines and years-long suspensions for submitting bogus offers on homes to drive up prices during the COVID-19 pandemic.
Christine Girouard has been suspended for 14 years and her business partner, Jonathan Dauphinais-Fortin, has been suspended for nine years after Quebec’s authority of real estate brokerage found they used fake bids to get buyers to raise their offers.
Girouard is a well-known broker who previously starred on a Quebec reality show that follows top real estate agents in the province.
She is facing a fine of $50,000, while Dauphinais-Fortin has been fined $10,000.
The two brokers were suspended in May 2023 after La Presse published an article about their practices.
One buyer ended up paying $40,000 more than his initial offer in 2022 after Girouard and Dauphinais-Fortin concocted a second bid on the house he wanted to buy.
This report by The Canadian Press was first published Sept. 11, 2024.
MONTREAL – The Quebec Professional Association of Real Estate Brokers says Montreal-area home sales rose 9.3 per cent in August compared with the same month last year, with levels slightly higher than the historical average for this time of year.
The association says home sales in the region totalled 2,991 for the month, up from 2,737 in August 2023.
The median price for all housing types was up year-over-year, led by a six per cent increase for the price of a plex at $763,000 last month.
The median price for a single-family home rose 5.2 per cent to $590,000 and the median price for a condominium rose 4.4 per cent to $407,100.
QPAREB market analysis director Charles Brant says the strength of the Montreal resale market contrasts with declines in many other Canadian cities struggling with higher levels of household debt, lower savings and diminishing purchasing power.
Active listings for August jumped 18 per cent compared with a year earlier to 17,200, while new listings rose 1.7 per cent to 4,840.
This report by The Canadian Press was first published Sept. 6, 2024.