Latest data from the Quebec Federation of Real Estate Boards (QFREB) pointed at a magnificent 2017 for the provincial market, with 82,639 residential sales concluded in the year, representing a 6% increase compared to 2016.
This was a new sales record, surpassing the 80,647 transactions registered in 2007, as well as the third consecutive yearly increase in sales volume.
“What’s more, 2017 ended on a high note as 17,804 residential sales were concluded across Quebec in the fourth quarter, an 8% increase compared to the fourth quarter of 2016,” according to Paul Cardinal, manager of the QFREB’s market analysis department. “This was the best fourth quarter result since 2009.”
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Condominium sales were the highlight in Quebec last year, growing by 15%. Sales of single-family homes and plexes exhibited more modest gains of 3% and 4%, respectively.
Median price growth posted robust performance in 2017 across the province, after 4 years of modest increases. The median price of all three property categories – single-family homes, condominiums and plexes – increased by 3% to reach $242,500, $230,000 and $380,000, respectively.
From January to December 2017, there were 71,016 active listings (on average) on the Centris® system, a 9% drop compared to 2016. This represented the second annual decrease in the number of properties for sale.
Ephraim is currently a journalist at Mortgage Broker News, Real Estate Professional and Canadian Real Estate Wealth.
Ephraim is a highly accomplished news reporter whose work has been published across North America and the Asia Pacific region. Before joining Key Media, Ephraim spent eight years working as a journalist with Reuters TV. His areas of expertise include real estate, mortgage, and finance.
Ephraim is currently a journalist at Mortgage Broker News, Real Estate Professional and Canadian Real Estate Wealth.
Ephraim is a highly accomplished news reporter whose work has been published across North America and the Asia Pacific region. Before joining Key Media, Ephraim spent eight years working as a journalist with Reuters TV. His areas of expertise include real estate, mortgage, and finance.
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