Quebec City, November 3, 2020 – The Quebec Professional Association of Real Estate Brokers (QPAREB) has just released its residential real estate market statistics for the Quebec City Census Metropolitan Area (CMA) for the month of October, based on the real estate brokers’ Centris provincial database.
According to Charles Brant, director of market analysis at the QPAREB, “Quebec City continues to be the metropolitan area whose market conditions have tightening the fastest to the advantage of sellers. There was a 45 per cent increase in sales and a further drop in listings, which is unprecedented for a month of October.”
- Very strong sales growth on the South Shore of Quebec City (+66 per cent) and in the Northern Periphery (+49 per cent). The agglomeration of Quebec City also posted remarkable sales growth (+40 per cent).
- Record-setting sales for plexes (2 to 5 dwellings) (+65 per cent), condominiums (+61 per cent) and single-family homes (+38 per cent). For this last property category, the increase was smaller due to the rapid shrinking of inventory.
- Historic drop in active listings for a seventh consecutive month for single-family homes (-50 per cent) and plexes (-39 per cent). Condominiums registered a 21 per cent drop in active listings.
- Prices continued to experience relatively sustained increases: +6 per cent for single-family homes and +3 per cent for plexes. The median price of condominiums fell slightly (-3 per cent).
- Record number of visits to the Centris.ca website, up 71 per cent compared to October of last year. This technology platform allows virtual open houses and private interactive showings, an advantage for real estate brokerage professionals and their clients.