Quebec City, April 5, 2022 (GLOBE NEWSWIRE) — The Quebec Real Estate Brokers Association (QPAREB) has released statistics for the residential real estate market in March.Latest market statistics Quebec Census Metropolitan Area (CMA) It is based on the Centris state database of real estate brokers.
“Despite the drop in sales from the record high in March 2021, market activity is at a higher level than before the pandemic, and the active list in all categories has dropped very sharply. The situation is creating an even tougher market environment, rapidly pushing up the percentage of sales completed after the over-bidding process, “said Charles Brandt, Director of Market Analysis. “This inevitably leads to an acceleration in price increases, especially in the plex market, which is attracting more attention from small investors. Sure, the rental market should be even tighter, but at this point funding Financing costs are still very low, “he adds. It is worth noting that the Quebec City market is experiencing a catch-up period in terms of price, especially when compared to the Montreal market.
- Home sales reached 1,120, down 16% year-on-year. This transaction level represents a slowdown compared to the last two years, but is much higher than the 879 sales observed in March 2019.
- The slowdown in sales affected Quebec’s agglomeration, which recorded 742 transactions. This is a 19% decrease compared to the same period last year. In the northern suburbs, 135 transactions (-24%) showed a significant decline. However, on the South Shore, transactions increased by 6% and sales were 243.
- After performing relatively well compared to other housing categories, condominium sales fell total 363 (-21%) in March. Single-family homes continued to slow with 652 sales (-16%). On the other hand, interest in low-income properties surged, recording 103 sales (13% growth).
- In this very active situation, the active list continued to decline, down 25 percent for single-family homes, 11 percent for low-income properties, and 45 percent for condominiums.
- Inventory levels remain limited in all housing categories, and upward pressure on prices continued in March. The average price of single-family homes was $ 350,000 this month, up 10 percent from the same period last year. For condominiums, the median price reached $ 230,000 (+ 12%). Small-income properties saw the largest increase since March last year, with a median of $ 390,712 (+ 17%).
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Detailed and cumulative Statistics the state And region
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About the Quebec Experts Association of Real Estate Brokers
The Quebec Professional Association of Real Estate Brokers (QPAREB) is a non-profit organization that brings together over 14,000 real estate brokers and agencies. It is responsible for promoting and defending their interests, taking into account the problems facing the profession and the various professional and regional realities of its members. QPAREB is also an important player in many real estate documents, including the implementation of measures to promote home ownership. The Association reports on Quebec’s residential real estate market statistics, provides real estate related training, tools and services, and facilitates the collection, distribution and exchange of information. QPAREB is headquartered in Quebec City and has a management office in Montreal. There are two subsidiaries, Centris Inc. and Collegedel’immobilier du Québec.Follow that activity at qpareb.ca Or via its social media pages: Facebook, LinkedIn, Twitter, Instagram.
Centris is a dynamic and innovative technology company in the real estate sector. We collect data and provide solutions that are highly tailored to the needs of our professionals. Among these solutions is Centris.ca, Quebec’s most visited real estate website.
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Marie Rose Desortel
Morin Relations Public
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In Quebec City, which is the time to catch up, the price of Plex continues to rise, especially in the Canadian Business Journal.
Source link In Quebec City, which is the time to catch up, the price of Plex continues to rise, especially in the Canadian Business Journal.