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Quebec  + Multi-residential Housing  | 
Quebec City condo sales rose 17% in February.

Quebec City Condo Sales Rise 17%

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.

β€œThe 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

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QPAREBCharles Brant

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

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