April 16, 2018

Québec's Real Estate Market: Active Start to 2018

Home sales across Québec increased by 3 per cent in the first quarter of 2018 compared to the first quarter of 2017. In total, the province's real estate brokers sold 22,050 properties, the best first-quarter sales result in six years.
Québec's Real Estate Market: Very Active Start to the Year

 

Here are the highlights for the first quarter of 2018:

Sales

  • Condominium sales jumped by 13 per cent, while sales of plexes increased by 2 per cent and sales of single-family homes remained unchanged.
  • Geographically, the agglomerations of Rivière-du-Loup (+22 per cent), Salaberry-de-Valleyfield (+21 per cent), Mont-Tremblant (+15 per cent) and Saint-Hyacinthe (+13 per cent) posted the largest increases in residential sales.
  • As for the province's six Census Metropolitan Areas (CMAs), that of Montréal registered the largest increase in sales at 7 per cent, followed by Saguenay at 5 per cent. Sales in the Québec City and Sherbrooke CMAs were unchanged, while sales in the Gatineau (-8 per cent) and Trois-Rivières (-11 per cent) CMAs decreased.

Prices

  • For the province as a whole, the median price of single-family homes increased by 3 per cent to reach $248,000.
  • The largest increases in median price for single-family homes were in the agglomerations of Sainte-Agathe-des-Monts (+18 per cent), Saint-Sauveur (+13 per cent), Thetford Mines (+8 per cent) as well as Victoriaville and Rouyn-Noranda (+7 per cent).
  • The median price of condominiums also increased by 3 per cent for the province as a whole, reaching $229,000, while the median price of plexes rose by 6 per cent to reach $380,000.

Click here to see the main residential statistics for the province of Québec.

 

See also:

The Most Expensive and Most Affordable Areas

First-Time Buyers: Avoid These Mistakes!

3 Questions to Ask Yourself Before Buying a Home

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