February 4, 2020

Barometers, Residential Market, 4th Quarter of 2019

The fourth quarter ends the year on a high note and lifts 2019 to a new sales record in the province of Quebec.

Sales

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 was 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 in the 4th quarter of 2019 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.

Prices

The median price of single-family homes across the province stood at $265,000 in the fourth quarter of 2019, up 6 per cent compared to the same period in 2018. Median prices were also on the rise for condominiums ($260,000, +6 per cent) and plexes ($442,000, +4 per cent).

Active listings

Finally, the supply of properties for sale across the province fell by 14 per cent in the fourth quarter of 2019 compared to fourth quarter of 2018.

For more detailed statistics on each of the geographic areas of Quebec, read the QPAREB Barometer and visit https://apciq.ca/en/real-estate-market/

See also:

What to check before buying a condominium

A real estate broker’s duties and obligations

All about the promise to purchase

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