Québec’s Real Estate Market was Active in October
Continuing its momentum from the last few months, Québec’s real estate market was very active in October, as transactions jumped by 7 per cent compared to October of last year. These data come from the real estate brokers’ Centris® provincial database.
Condominiums posted the strongest growth, as sales of this property category increased by 16 per cent. Sales of single-family homes grew by 5 per cent, while sales of plexes increased by 2 per cent.
Geographically, the Trois-Rivières (23 per cent) and Montréal (7 per cent) metropolitan areas stood out with strong increases in sales in October, while the Québec City metropolitan area posted a more modest increase of 3 per cent. In contrast, sales fell in the metropolitan areas of Sherbrooke (-9 per cent), Saguenay (-6 per cent) and Gatineau (-4 per cent).
As for prices, the median price of single-family homes sold across Québec stood at $245,000 in October. This represents a 4 per cent increase compared to October 2016. The median price of condominiums increased by 3 per cent to reach $236,000.
Here is the median price of single-family homes in the province’s six CMAs in October 2017, as well as their variation as compared to October of last year:
- Montréal: $320,000 (+5 per cent)
- Québec City: $246,700 (+3 per cent)
- Gatineau: $239,500 (0 per cent)
- Sherbrooke: $210,000 (+3 per cent)
- Saguenay: $158,550 (0 per cent)
- Trois-Rivières: $142,000 (+4 per cent)