January 15, 2018

Residential Sales in Québec Set a New Record in 2017

A new sales record was set on the province’s real estate market in 2017. According to the real estate brokers’ Centris® provincial database, 82,639 residential transactions were concluded in Québec in 2017, a 6 per cent increase compared to 2016. This was the third consecutive annual increase in sales. The previous record of 80,647 transactions was set in 2007.
Residential Sales in Québec Set a New Record in 2017

 

Condominium sales stood out in 2017, as they jumped by 15 per cent. Sales of single-family homes and plexes posted more modest gains of 3 per cent and 4 per cent, respectively.

Among the metropolitan areas, Montréal and Gatineau stood out with respective sales increases of 8 per cent and 6 per cent. Sales grew by 2 per cent in the Québec City and Trois-Rivières metropolitan areas, but fell in Sherbrooke (-1 per cent) and Saguenay (-4 per cent).

Centris Residential Statistics - Cumulative 2017

 

After four years of rather modest increases, median price growth was stronger in 2017 across the province. The median price of all three property categories – single-family homes, condominiums and plexes – increased by 3 per cent to reach $242,500, $230,000 and $380,000, respectively.

Here is the median price of single-family homes in the province’s six CMAs in 2017, as well as their variation as compared to 2016:

  • Montréal: $310,000 (+7%)
  • Québec City: $250,000 (+1%)
  • Gatineau: $242,000 (+4%)
  • Sherbrooke: $206,000 (+4%)
  • Saguenay: $172,000 (+1%)
  • Trois-Rivières: $150,000 (+2%)

 

See also:

2018: Expect Record-Setting Sales in Québec

10 Good Reasons to Work With a Real Estate Broker

3 Questions to Ask Yourself Before Buying a Home

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