L’ÎLE-DES-SŒURS, Quebec, Oct. 20, 2021 (GLOBE NEWSWIRE) — The Quebec Skilled Affiliation of Actual Property Brokers (QPAREB) has simply launched its quarterly residential actual property market statistics for the province of Quebec, primarily based on the true property brokers’ Centris provincial database.
In complete, 22,333 residential gross sales transactions had been concluded within the third quarter of 2021, a pointy 30 per cent drop in comparison with the third quarter of final 12 months when there was a historic rebound in gross sales after the market was on pause as a result of lockdown.
In complete, 13,899 single-family properties (-36 per cent), 5,835 condominiums (-24 per cent) and a pair of,505 plexes
(+3 per cent) modified palms in Quebec within the third quarter of the 12 months.
Geographically, the agglomerations of Sainte-Agathe-des-Monts (-54 per cent), Saint-Sauveur (-50 per cent), Rouyn-Noranda (-45 per cent), Rimouski (-44 per cent) and Joliette (-41 per cent) noticed their residential gross sales lower considerably in comparison with the outstanding rebound in exercise within the third quarter of final 12 months.
Among the many province’s six census metropolitan areas (CMAs), the Saguenay CMA registered the most important lower in gross sales, falling by 37 per cent, adopted by the Quebec Metropolis CMA (-32 per cent), the Montreal CMA (-29 per cent) and the Gatineau CMA (-24 per cent). The Trois-Rivières CMA registered the smallest drop in gross sales, at 8 per cent. Nonetheless, it is very important put these statistics into perspective and keep in mind that the Trois-Rivières CMA registered the smallest surge in gross sales within the third quarter of 2020, at 16 per cent.
For the province as an entire, the median worth of single-family properties elevated by 18 per cent to succeed in $365,000.
As for the metropolitan areas, the most important worth will increase for single-family properties had been within the Trois-Rivières (+28 per cent), Gatineau (+24 per cent) and Sherbrooke (+21 per cent) CMAs.
Exterior of the metropolitan areas, the agglomerations of Lachute (+44 per cent), Sorel-Tracy (+35 per cent), Sainte-Agathe-des-Monts (+27 per cent), Drummondville (+25 per cent) and Rimouski (+23 per cent) posted the most important worth will increase for single-family properties.
Provincially, the median worth of condominiums elevated by 18 per cent to succeed in $334,000, whereas that of plexes rose by 5 per cent to succeed in $450,000.
The downward development in provide continued for a twenty third consecutive quarter. From July to September, there have been a mean of 24,939 properties on the market in the true property brokers’ Centris system, which is a 31 per cent lower in comparison with the identical interval final 12 months. That is the bottom degree of energetic listings on report since 2003, when the scale of the residential housing inventory was a lot smaller than it’s immediately.
This example largely explains the sharp slowdown in gross sales, as transactions are restricted by the scarcity of properties on the market on the resale market.
The entire province’s CMAs thus noticed a major drop within the variety of properties on the market in comparison with final 12 months. The Saguenay (-43 per cent), Quebec Metropolis (-38 per cent) and Sherbrooke (-35 per cent) CMAs registered essentially the most vital decreases in provide.
Market situations and promoting occasions
The numerous lower in provide ensuing from continued robust demand in most areas of the province led to record-setting tight market situations, that are extraordinarily beneficial to sellers.
As is the case throughout the province for condominiums, market situations for this property class on the Island of Montreal tightened considerably in comparison with final 12 months. Keep in mind that this phase was the one one which noticed a major easing of market situations within the third quarter of 2020.
Provincially, it took a mean of 45 days (-49 days) to promote a single-family residence, 51 days (-11 days) to promote a condominium and 68 days (-26 days) to promote a plex.
“The return to a pre-pandemic degree of gross sales was primarily on account of an absence of properties in the marketplace, each for single-family properties and condominiums. With lower than three months of stock, the Quebec resale market hasn’t skilled such a scarcity of provide since the true property brokers’ Centris system started compiling information again within the 12 months 2000. This places fixed upward stress on costs,” mentioned Charles Brant, director of the QPAREB’s Market Evaluation Division. “Solely plexes are experiencing larger exercise than final 12 months, as they’re benefiting from much less tight market situations and a renewed curiosity of their many benefits.”
Click on right here to view market statistics for your entire province.
In regards to the Quebec Skilled Affiliation of Actual Property Brokers
The Quebec Skilled Affiliation of Actual Property Brokers (QPAREB) is a non-profit affiliation that brings collectively greater than 13,300 actual property brokers and companies. It’s answerable for selling and defending their pursuits whereas bearing in mind the problems going through the career and the varied skilled and regional realities of its members. The QPAREB can also be an essential participant in lots of actual property dossiers, together with the implementation of measures that promote homeownership. The Affiliation studies on Quebec’s residential actual property market statistics, gives coaching, instruments and companies referring to actual property, and facilitates the gathering, dissemination and alternate of knowledge. The QPAREB is headquartered in Quebec Metropolis and has its administrative places of work in Montreal. It has two subsidiaries: Centris Inc. and the Collège de l’immobilier du Québec. Comply with its actions at qpareb.ca or through its social media pages: Fb, LinkedIn, Twitter and Instagram.
The QPAREB launched an essential examine on actual property overheating on September 13, 2021. This transient was offered to the Quebec Minister of Finance as a part of the session on the supervision of actual property brokers within the context of an overheated market. Click on right here to learn this evaluation (in French).
Centris is a dynamic and revolutionary expertise firm in the true property sector. It collects information and provides options which might be extremely tailored to the wants of execs. Amongst these options is Centris.ca, essentially the most visited actual property web site in Quebec.
Click on on the hyperlinks under to seek the advice of the regional press releases:
Québec Metropolis CMA
RMR de Gatineau
RMR de Sherbrooke
RMR de Saguenay
RMR de Trois-Rivières
Agglomération de Granby
Agglomération de Joliette
Agglomérations des Laurentides
Agglomération de Saint-Hyacinthe
Agglomération de Drummondville et de Victoriaville
Agglomération de Val-d’Or et de Rouyn-Noranda
For extra data:
Morin Relations Publiques
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