Quebec City condominium sales rose 17% year-over-year in February, says a new report from the Quebec Professional Association of Real Estate Brokers.

Total condo sales reached 288 during the month. Meanwhile, small income properties had a larger gain, rising 24%.

The median condo price climbed 16% from a year earlier to $268,000. By comparison, the median price of a single-family home increased 9% to $362,500.

“The relatively affordable condominium market is attracting considerable interest, but prices are catching up,” said Charles Brant, Charles Brant, QPAREB’s market analysis director.

Overall Quebec City residential sales jumped 33% year-over-year to 967, an increase of 242 deals.

“The market in the greater Quebec City area is the only one in the province that is seeing a decline in the number of properties available on the market, while the other [census metropolitan areas] are posting increases,” said Brant.

Pictured: Homz Le Distinction condominium development in Quebec City

Image: Homz