- Sales increased by 7 per cent in January, a less dramatic rise than in previous months. For instance, last October saw sales reach their second-highest level in 25 years. This moderation in activity is due to a sharp decline in active listings (-30 per cent). A new record low in active listings of plexes and single-family homes was recorded, the lowest level in 24 years.
- The very low inventory of properties for sale, across all categories, gives sellers a considerable advantage, as they can take advantage of market conditions conducive to widespread overheating. Moreover, the number of sales above the asking price in the CMA increased by over 30 per cent.
- Consequently, prices jumped by 30 per cent for small income properties, 22 per cent for condominiums, and 13 per cent for single-family homes.
QUEBEC CITY, Feb. 07, 2025 (GLOBE NEWSWIRE) — The Quebec Professional Association of Real Estate Brokers (QPAREB) has just released its residential real estate market statistics for the month of January 2025. The most recent market statistics for the Quebec City Census Metropolitan Area (CMA) are based on the real estate brokers’ Centris provincial database.
Residential sales in the Quebec City CMA totalled 639 transactions in January 2025. This represents a 7 per cent increase, or 39 sales, compared to the same period last year. Transactional activity exceeded the historical average for this month by 19 per cent.
“January is typically a time of year when the market feels the impact from December when few properties are put on the market, thus weakening the supply of available properties. However, the start of this year has seen pressure from a larger pool of active buyers in the Quebec City market. These buyers are eager to act due to the combined effect of falling interest rates and the implementation of homeownership measures. This sense of urgency is also driven by the desire to position themselves in a market with soaring property prices. The result is a historic tightening of market conditions, with less than three months needed to clear the entire inventory at this transaction rate,” notes Charles Brant, QPAREB Market Analysis Director.
“We can only agree with the expectations of buyers in the Agglomeration of Quebec City. With overbidding affecting one out of every two sales of single-family homes, price increases are bound to accelerate. In this environment, working with a real estate broker is crucial in keeping a cool head and ensuring a successful transaction.”
Additional information:
Detailed and cumulative monthly statistics for the province and regions
If you would like additional information from the Market Analysis Department, such as specific data or regional details on the real estate market, please write to us.
About the Quebec Professional Association of Real Estate Brokers
The Quebec Professional Association of Real Estate Brokers (QPAREB) is a non-profit association that brings together close to 15,000 real estate brokers and agencies. It is responsible for promoting and defending their interests while taking into account the issues facing the profession and the various professional and regional realities of its members. The QPAREB is also a major player in many real estate dossiers, including the implementation of measures that promote homeownership. The Association reports on Québec’s residential real estate market statistics, provides training, tools and services relating to real estate, and facilitates the collection, dissemination and exchange of information. The QPAREB has its head office in Quebec City, administrative offices in Montreal and a regional office in Saguenay. It has two subsidiaries: Société Centris inc. and the Collège de l’immobilier du Québec. Follow its activities at qpareb.ca or via its social media pages: Facebook, LinkedIn, X and Instagram..
For more information:
Ariane Boulé
Morin Relations Publiques
media@qpareb.ca
Image bank (credit QPAREB) available free of charge.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a4024588-5313-466f-a9f9-ed72f76040b3
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