QUEBEC CITY, Nov. 03, 2022 (GLOBE NEWSWIRE) — The Quebec Skilled Affiliation of Actual Property Brokers (QPAREB) has simply launched its residential actual property market statistics for the month of October. The latest market statistics for the Quebec Metropolis Census Metropolitan Space (CMA) are based mostly on the actual property brokers’ Centris provincial database.
The Quebec Metropolis CMA recorded 630 residential gross sales in its space through the month of October 2022. This represents a lower of 127 transactions or 17 per cent in comparison with 2021, a considerably smaller lower than on the provincial degree and gross sales ranges which can be barely under the historic common for the month of October.
“The Quebec Metropolis market continues to impress with its resilience regardless of the headwinds blown in by the Financial institution of Canada by way of the sharp improve in the important thing rate of interest over the previous eight months. This evolution isn’t a surprise, nevertheless, given the a number of components underlying the market’s dynamism, together with the extra accessible degree of property costs in relation to households’ monetary capability. As well as, skilled patrons are stimulating the market, particularly within the high-end section,” notes Charles Brant, Director of the QPAREB’s Market Evaluation Division. “The comparatively dynamic degree of exercise is mirrored within the stability of energetic listings in comparison with the identical interval final 12 months. Thus, the upkeep of market circumstances, that are nonetheless tight in favour of sellers, is even leading to a rise in costs in comparison with September. This phenomenon is prone to be short-lived, as the total impression of rising rates of interest has but to be mirrored available in the market, significantly in a context the place one other charge hike is anticipated by the tip of the 12 months.”
October Highlights
- The three massive sectors of the Quebec Metropolis CMA registered a major lower in gross sales in comparison with the identical interval one 12 months earlier. With decreases of 23 per cent and 18 per cent, respectively, the Northern Periphery (73 gross sales) and the Agglomeration of Quebec (438 gross sales) registered the most important decreases. The South Shore of Quebec Metropolis stood out with 119 transactions and a smaller lower of 4.8 per cent.
- Plex and condominium gross sales registered the most important annual lower through the present interval. With 43 and 173 transactions, respectively, the decreases had been 36 and 28 per cent. Single-family houses (414 gross sales) stood out with a smaller lower of 8 per cent.
- For a fifth consecutive month, energetic listings had been up within the Quebec Metropolis CMA. With a rise of 9 per cent in comparison with the earlier month, listings stood at 3,067 in October. Nevertheless, on an annual foundation, that is the primary time in 29 months that now we have seen a rise in energetic listings, nevertheless slight. Certainly, the extent of energetic listings is comparable (+1 per cent) to the extent recorded on the similar time final 12 months, in October 2021, when energetic listings totalled 3,043.
- Regardless of the slowdown in market exercise, median costs are nonetheless up from final 12 months for all property classes.
- Median costs for single-family houses and condominiums are performing equally, with a 9 per cent improve over the identical interval a 12 months in the past. The median value of single-family houses was $349,000 and that of condominiums was $239,850. The most important improve was recorded within the plex market, the place the median value was $425,000, representing an annual achieve of 21 per cent.
- The truth is, an evaluation of the evolution of median costs in consecutive months reveals that the Quebec Metropolis CMA market is resisting the value decreases which can be happening elsewhere within the province. Certainly, for all property classes, the month-to-month change within the median value even elevated in October.
Extra data:
Detailed and cumulative statistics for the province and areas
If you need extra data from the Market Evaluation Division, similar to particular information or regional particulars on the actual property market, please write to us.
Concerning 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 14,000 actual property brokers and businesses. It’s liable for selling and defending their pursuits whereas taking into consideration the problems going through the career and the assorted 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 reviews on Quebec’s residential actual property market statistics, offers coaching, instruments and providers regarding actual property, and facilitates the gathering, dissemination, and alternate of data. The QPAREB has its head workplace in Quebec Metropolis, administrative workplaces in Montreal and a regional workplace in Saguenay. It has two subsidiaries: Société Centris inc. and the Collège de l’immobilier du Québec. Observe its actions at qpareb.ca or by way of its social media pages: Fb, LinkedIn, Twitter and Instagram.
About Centris
Centris is a dynamic and progressive know-how firm in the actual property sector. It collects information and affords options which can be extremely tailored to the wants of execs. Amongst these options is Centris.ca, probably the most visited actual property web site in Quebec.
For extra data:
Marie-Rose Desautels
Morin Relations Publiques
[email protected]
Picture financial institution (credit score QPAREB) obtainable freed from cost.
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