ÎLE-DES-SŒURS, QC, Jan. 14, 2019 /CNW Telbec/ - The Québec Federation of Real Estate Boards (QFREB) has released the 2018 residential real estate market statistics for the province of Québec based on the real estate brokers' Centris provincial database. In total, 86,557 sales were concluded in 2018, a 5 per cent increase compared to 2017. This was the fourth consecutive increase and set a new sales record, surpassing the high of 82,541 transactions reached in 2017.
"Once again, the Québec residential real estate market ended the year on an excellent note with 18,858 transactions in the fourth quarter, 6 per cent more than the same period in 2017," stated Yanick Desnoyers, Manager of the QFREB's Market Analysis Department. "This was the best result in 18 years for a fourth quarter," he added.
Here are the highlights of 2018:
Sales
- Condominium sales jumped by 13 per cent, while single-family homes and plexes each posted more modest gains of 3 per cent.
- Saguenay and Gatineau took the lead among metropolitan areas with increases of 11 per cent and 7 per cent, respectively. Notable increases were recorded in Sherbrooke (+6 per cent), Montréal (+5 per cent) and Québec City (+4 per cent), while activity declined in the Trois-Rivières metropolitan area (-1 per cent).
- In the smaller urban centres, the agglomerations of Matane (+30 per cent), Mont-Laurier (+29 per cent), Cowansville (+19 per cent), Rivière-du-Loup (+17 per cent) and Saint- Hyacinthe (+15 per cent) posted the strongest growth in sales.
Prices
- Median prices continued to rise for the second year in a row across the province. The median price of both single-family homes and condominiums increased by 3 per cent to reach $250,000 and $237,000, respectively.
- The median price of single-family homes in the agglomeration of Rawdon jumped by 12 per cent to reach $169,900. The agglomerations of Rouyn-Noranda and Mont-Tremblant saw the median price of single-family homes increase by 11 per cent to $228,288 and $271,250, respectively.
- As for condominiums, the agglomeration of Mont-Tremblant is once again at the top of the charts, with 12 per cent growth and a median price of $255,000. Conversely, Québec City is the metropolitan area posting the smallest increase in condominium median prices (+1 per cent).
Number of Properties for Sale
- From January to December 2018, there were, on average, 64,289 active listings on the Centris system, a 9 per cent drop compared to 2017. This is the lowest level since 2011.
- Inventories decreased in almost all regions of Québec, with the exception of La Tuque (+ 25 per cent), Sainte-Adèle (+15 per cent) and Sept-Îles (+5 per cent).
Finally, selling times across the province have shortened compared to one year ago: it took an average of 107 days (-5 days) for a single-family home to sell, 111 days (-13 days) for a condominium to sell and 98 days (-4 days) for a plex to sell.
For detailed statistics on specific regions of Québec, read the regional press releases (in French):
About the Québec Federation of Real Estate Boards
The Québec Federation of Real Estate Boards (QFREB) is a non-profit organization representing the province's 11 real estate boards and their nearly 13 000-member real estate brokers. Its mission is to support Québec's real estate boards in order to defend, protect and promote the interests of real estate brokers through the provision of services in the areas of professional practices, public affairs and market analysis. The QFREB is guided by an approach centered on collaboration and resource sharing.
About Centris
Centris.ca is Québec's real estate industry website for consumers, grouping all properties for sale by a real estate broker under the same address. Société Centris provides real estate industry stakeholders with access to real estate data and a wide range of technology tools. Centris also manages the collaboration system used by more than 13,000 real estate brokers in Québec.
SOURCE Québec Federation of Real Estate Boards
Jacynthe Alain, Assistant Manager, Communications and Public Relations, Québec Federation of Real Estate Boards, Tel.: 514 762-0212, ext. 175, [email protected]
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