The year that has just ended has become the second busiest in the history of Quebec in terms of real estate transactions, just behind the record year of 2020.
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A total of 109,588 residential sales were made across the province during 2021, a slight decrease of 2% compared to 2020, announced the Professional Association of Real Estate Brokers of Quebec (APCIQ). in its fourth quarter 2021 report.
“The fourth quarter has come to a strong end to a year marked by an unprecedented imbalance in the Quebec real estate market, in favor of sellers. Despite the historic low number of properties available for sale in all regions of Quebec, activity remained very strong, although below 2020 during the same period. The widespread overheating of the market, fueled in the fourth quarter by the prospect of rising interest rates in 2022, is pushing prices to a new record, all categories and all sectors combined, ”explained Charles Brant, director of the Department of market analysis.
In the areas on the outskirts of Montreal, we recorded the lowest level of registration ever for a fourth quarter, which continued to fuel the real estate bidding up. Thus, median prices in Greater Montreal have increased during the last quarter of the year, by 20% for single-family properties, 17% for condos and 12% for plexes compared to the same quarter in 2020.
On the Quebec side, “the fourth quarter ranks second among
most active year-end quarters ever recorded ”, despite an 18.1% drop in residential sales.
The great demand for condos in the Quebec City metropolitan area almost doubled sales in this category.
Median prices for condominiums (+ 9%) and single-family properties (+ 13%) saw record increases, while the price of plexes edged up 5%.