Condo sales soar in Quebec City in February

Residential real estate market statistics for the Quebec City Census Metropolitan Area (CMA) for the month of February have been released by the Quebec Professional Association of Real Estate Brokers (QPAREB), based on the real estate brokers’ Centris provincial database.

Québec City skyline. (photo: Quintin Soloviev via Wikimedia Commons)

“The decrease in active listings continued in February with a record-setting drop for single-family homes (-61 per cent) but also for condominiums (-32 per cent). This latter property category outperformed single-family homes in terms of sales, as condo transactions jumped by 50 per cent, tipping condominium market conditions in favour of sellers for the first time since October 2011,” said Charles Brant, director of market analysis at the QPAREB.

February highlights

  • Total sales: up by 6 per cent in February (1,168 transactions), a new sales record compared to February of 2020, which was an exceptional month.
  • The areas on the periphery of the Agglomeration of Quebec City continued to post record sales, particularly the Northern Periphery with 148 transactions (+30 per cent), followed by the South Shore with 225 transactions (+7 per cent). The Agglomeration of Quebec City registered a 2 per cent increase in sales with 795 transactions.
  • Sales by property category: historical sales levels for a month of February with 95 plex transactions (+48 per cent) and 379 condominium transactions (+50 per cent). Sales of single-family homes were the exception, with 693 sales, a decrease of 11 per cent.
  • Active listings once again registered a record-setting drop for single-family homes (-61 per cent) and plexes (-41 per cent). The 32 per cent decrease for condominiums shifted market conditions in favour of sellers for this property category.
  • Under pressure, the median price of single-family homes increased by 13 per cent, while that of plexes rose by 16 per cent. The median price of condominiums grew by 4 per cent.

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