L’ILE-DES-SŒURS, Quebec, July 19, 2021 (Global News Agency)-The Quebec Professional Association of Realtors (QPAREB) has just released its quarterly residential real estate market statistics. Quebec, Based on the Centris provincial database of real estate agents.
Quebec completed a total of 31,899 residential sales transactions in the second quarter of this year, an increase of 45% compared to the second quarter of last year, when sales were severely hampered by the pandemic and fell by 24%. However, the number of transactions in the second quarter of this year represents a new sales record in the second quarter.
“One year after the lockdown measures that caused residential sales to plummet, it’s clear that the market has rebounded more than just: it has experienced an astonishing acceleration and set record sales and price increases. But even if the record is still set to be the second in 2021 In the quarter, sales growth has slowed,” said Charles Brandt, director of QPAREB’s market analysis department. “This real estate is overheated1 In most markets across the province, many industry observers are beginning to worry. However, given the historical high prices of all real estate categories and the general shortage of single-family homes and apartments, this level of activity is unsustainable. With the rising trend of mortgage interest rates, the implementation of measures aimed at calming the market, and the impact of the end of the health crisis on household savings and behavior, the affordability issues indicate that sales levels will fall until the end of this year,” he added.
Below are the highlights of the second quarter of 2021.
- By real estate category, sales of single-family homes in Quebec increased by 28%, and the total number of transactions in the second quarter of this year was 19,842. This is similar to the 19,327 transactions completed in the second quarter of 2019. Single-family residential sales fell by 20% in the second quarter of 2020.
- Condominium sales jumped 76%, with 8,377 transactions. This property category fell sharply in the second quarter of last year, down 34% from the 7,230 sales completed in 2019.
- Plex sales in Quebec are particularly strong…