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.”
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.
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