|Note on COVID-19: The statistics published in this press release reflect sales that were concluded between January 1 and March 31, 2020, a period that was relatively unaffected by COVID-19. To learn more about the current impact of the pandemic and our forecasts for the coming months for Quebec's real estate market, watch for the upcoming release of our analysis.|
L’ÎLE-DES-SŒURS, Quebec, April 23, 2020 (GLOBE NEWSWIRE) -- The Quebec Professional Association of Real Estate Brokers (QPAREB) has released its most recent residential real estate market statistics for the province of Quebec, based on the real estate brokers’ Centris provincial database. In total, 27,817 residential transactions were concluded in the first quarter of 2020, a notable 18 per cent increase compared to the first quarter of last year. This was the 23rd consecutive quarterly increase in sales and the largest first-quarter sales result since the real estate brokers’ Centris system began compiling market data in the year 2000.
Market conditions and selling times
“With nearly 28,000 transactions (+18 per cent), the first quarter of 2020 marks the peak of the resale market in Quebec. However, this will be a sharp contrast to the decline that we are expected to in the second quarter of the year, due to the application of social distancing measures and the suspension of so-called non-essential economic activities imposed by the government," said Julie Saucier, president and chief executive officer of the QPAREB.
"This market vitality, which has been artificially halted since mid-March, suggests resilience for the coming months,” added Charles Brant, director of the QPAREB’s Market Analysis Department. “It thus bodes well for a significant latent demand from buyers while the supply of residential properties on the market should continue to be relatively limited in many areas."
For more detailed market statistics for the province, click here.
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 more than 13,000 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 an important player in many real estate dossiers, including the implementation of measures that promote homeownership. The Association reports on Quebec'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 is headquartered in Quebec City and has its administrative offices in Montreal. It has two subsidiaries: Centris Inc. and the Collège de l'immobilier du Québec. Follow its activities at qpareb.ca or via its social media pages: Facebook, LinkedIn, Twitter and Instagram.
Centris.ca is Quebec’s real estate industry website for consumers, grouping all properties for sale by a real estate broker under the same address. Société Centris provides real estate industry stakeholders with access to real estate data and a wide range of technology tools. Centris also manages the collaboration system used by more than 13,000 real estate brokers in Quebec.
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Communications and Marketing
514-762-2440, ext. 157