Sales of residential properties in Quebec shattered the record set in 2017 as more than 86,000 transactions were registered on the real estate brokers’ Centris system – an increase of 5 per cent compared to 2017. The year ended on a high note as 18,858 sales were concluded in the fourth quarter of the year, a 6 per cent increase compared to the fourth quarter of 2017. It should be noted that Quebec’s residential real estate market is in an enviable position compared to other provinces, as sales in British Columbia and Ontario were down 23 per cent and 18 per cent respectively in 2018.
Here are some highlights:
- Condominium sales in Quebec jumped by 13 per cent in 2018, while single-family homes and plexes each posted more modest gains of 3 per cent.
- Among the metropolitan areas, Saguenay and Gatineau took the lead with sales increases of 11 per cent and 7 per cent, respectively. Notable increases were also recorded in Sherbrooke (+6 per cent), Montreal (+5 per cent) and Quebec City (+4 per cent), while sales declined in Trois-Rivières (-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.
Read the QFREB communiqué for full details.