The Québec Federation of Real Estate Boards (QFREB) has released its most recent residential real estate market statistics for the province of Québec, based on the real estate brokers’ Centris provincial database.
TL;DR: 23,667 sales were concluded in the first quarter of 2019, which represents an 8% compared to the Q1 of 2018. Prices continue to rise across all property markets.
Here are some of the highlights for the first quarter of 2019:
- In total, 16,010 single-family homes (+7%), 5,866 condominiums (+12%) and 1,694 plexes (+1%) were sold in Québec in the first quarter of the year.
- Geographically, the agglomerations of Joliette (+51%), Sainte-Agathe-des-Monts (+39%), Amos and Drummondville (+36%), La Tuque (+35%) and Rawdon (+33%) stood out with the largest increases in residential sales.
- As for the province’s six census metropolitan areas (CMAs), Trois-Rivières registered the largest increase in sales at 24%, followed by Saguenay at 17%. The Gatineau CMA also performed well, posting a 16% rise in sales. Transactions in the Québec City, Montréal and Sherbrooke CMAs also held their ground with respective sales increases of 8%, 6% and 5%.
Québec’s high performing real estate market is notable in contrast to other Canadian metropolitan markets, which are in decline.
- The number of properties for sale continued to decline, for a thirteenth consecutive quarter.
- 61,885 residential properties were for sale on the real estate brokers’ Centris system, which is a 9% drop compared to the first quarter of last year.
- The number of listings fell by 8% for single-family homes (41,557) and by 18% for condominiums (13,397), but increased by 5% for plexes (6,148).
- For the province as a whole, the median price of single-family homes rose by 3% to reach $255,000.
- The largest price increases were recorded in Thetford Mines(+23%), Shawinigan (+13%), Rawdon (+10%), Sainte-Agathe-des-Monts (+8%) and Drummondville (+6%).
- The median price of condominiums increased by 1% across the province to reach $231,000.
- The median price of plexes remained unchanged at $385,000.
Average Selling Time
Properties sold in the first quarter of 2019 received a closing offer faster they did one year ago.
Single-family homes sold in an average of 104 days (-6 days). Condominiums sold in an average of 101 days (-14 days).
This article, Centris Residential Sales Statistics: Q1, 2019, appeared first on Shupilov News.