QUEBEC CITY, 04 Feb. 28, 2022 (GLOBE NEWSWIRE) — The Professional Association of Quebec Real Estate Brokers (APCIQ) has just released its residential real estate market statistics for the Quebec census metropolitan area (CMA) for the month of January, according to the Centris provincial database of real estate brokers.
“The Quebec City market is starting the year strong, although the number of sales is down for this period of the year compared to what we have experienced over the past two exceptional years. The lack of properties on the resale market and the relatively sustained level of single-family home starts largely explain this situation,” notes Charles Brant, director of market analysis at the APCIQ. “While market overheating persists, it remains contained, with overbidding affecting only one in three transactions over the years, with spreads between listing and selling prices often below 10%. Thus, the rise in prices remains strong, but contained,” he adds.
- In January, sales fell to 684, down 16% from the same period last year. Note that January 2021 set a historic record with 817 sales.
- Thus, all regions of the Quebec City CMA continue to show a drop in sales, particularly the Northern Periphery with a 25% drop compared to last year, followed closely by the Quebec City agglomeration (-17% ). The South Shore experienced the smallest decline with a 9% drop in sales.
- The condominium category is enjoying great popularity with sales down only 13% compared to January 2021. Sales of single-family homes, limited by a low level of available inventory and more intense competition from the new home market, experienced a drop of 18%. decrease of sales. Sales of small income properties experienced the largest drop (-20%).
- Active listings fell significantly for the 22nd consecutive month for single-family homes (-31%) and condominiums (-42%) in particular. They decreased by 2% for small income properties.
- In very tight market conditions in favor of sellers, prices continue to rise steadily, even though plexes are down a slight 1% ($347,250). Condominiums were up 9% from a year ago, while single-family home prices recorded a solid 15% increase. Median prices thus reached new records for these two categories for this period of the year: $325,000 for single-family homes and $217,000 for condominiums.
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Detailed and cumulative statistics for the province and regions
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About the Professional Association of Quebec Real Estate Brokers
The Professional Association of Quebec Real Estate Brokers (APCIQ) is a non-profit association that brings together more than 13,300 real estate brokers and agencies. It is responsible for promoting and defending their interests, taking into account the challenges of the profession and the various professional and regional realities of its members. The APCIQ is also an important player in many real estate files, including the implementation of measures to promote home ownership. The Association reports statistics on the residential real estate market in Quebec, offers training, tools and services related to real estate and facilitates the collection, dissemination and exchange of information. The APCIQ has its head office in Quebec and its administrative offices in Montreal. It has two subsidiaries: Centris inc. and the College of Real Estate of Quebec. Follow its activities on qpareb.ca or via its social media pages: Facebook, LinkedIn, Twitter and Instagram.
The APCIQ made public a major study on real estate overheating on September 13, 2021. This brief was presented to the Minister of Finance of Quebec as part of the consultation on the supervision of real estate brokers in the context of an overheated market. Click here to read this analysis (in French).
Centris is a dynamic and innovative technology company in the real estate sector. It collects data and offers solutions very suited to the needs of professionals. Among these solutions is Centris.cathe most visited real estate site in Quebec.
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