• Price increases accelerate across the Quebec City area: the median price of plexes surges and that of condominiums reaches the level of the last peak in 2013

    Quebec City, June 2, 2021 – The Quebec Professional Association of Real Estate Brokers (QPAREB) has just released its residential real estate market statistics for the Quebec City Census Metropolitan Area (CMA) for the month of May, based on the real estate brokers’ Centris provincial database.  

    • Important note: several statistics for May 2020 are not representative due to the exceptional pause in transactions and new property listings during this period. May 2019 statistics are therefore used to calculate variations (for informational purposes). However, May 2020 remains a valid reference in determining variations in median prices and active listings. 

    "As is the case elsewhere in the province, condominiums and plexes continue to enjoy growing interest from households and investors, while prices and a lack of availability of single-family homes are increasingly putting off buyers," said Charles Brant, director of the QPAREB’s Market Analysis Department. "The rapid drop in active listings and the resulting overheating of the market now extends to all property types, which is contributing to the slowdown in sales in the Quebec City market after several months of very strong activity," he added. 

    May highlights

    • Total sales: 897 transactions, the highest number of sales ever recorded for a month of May since the real estate brokers’ Centris system began compiling statistics. However, compared to May 2019, it represents a modest increase of 4 per cent.
    • The South Shore of Quebec City stood out with the largest increase in sales in May, with 166 transactions (+14 per cent compared to May 2019), followed by the Agglomeration of Quebec City (624 transactions, +5 per cent compared to May of 2019). In contrast, the Northern Periphery of Quebec City registered an 11 per cent decrease in sales compared to May 2019, with 120 transactions.
    • Sales by property category: 269 condominium transactions were concluded (+29 per cent compared to May 2019) and 82 plex transactions were concluded (+22 per cent compared to May 2019), representing record sales levels for both of these property categories. In contrast, sales of single-family homes (545 transactions) fell by 7 per cent compared to May of 2019.
    • Compared to May of 2020, the supply of single-family homes fell dramatically (-45 per cent), further tightening market conditions in favour of sellers and fostering overheating and overbidding in several areas. For plexes and condominiums, active listings dropped by 15 per cent and 36 per cent, respectively.
    • The median price of single-family homes continued to rise in the Quebec City CMA and now stands at $310,250, a 16 per cent increase compared to May of last year. Condominiums and plexes saw their respective median price jump to $210,000 (+15 per cent) and $375,250 (+32 per cent).

    Additional information:

    Quarterly statistics – Barometer for the province of Quebec

    Detailed and cumulative 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 This email address is being protected from spambots. You need JavaScript enabled to view it. 

  • Montreal Real Estate Market: Condominiums and Plexes Set New Sales and Price Records in May

    L’Île-des-Sœurs, June 2, 2021 – The Quebec Professional Association of Real Estate Brokers (QPAREB) has just released its residential real estate market statistics for the Montreal Census Metropolitan Area (CMA) for the month of May, based on the real estate brokers’ Centris provincial database. 

    • Important note: several statistics for May 2020 are not representative due to the gradual resumption of transactions and new property listings that took place during this period, following the April 2020 confinement measures. Thus, May 2019 statistics were used to calculate variations, for informational purposes. However, May 2020 remains a valid reference in determining variations in median prices and active listings.

    "In a context of soaring prices for single-family homes in the Montreal area and the easing of the health crisis, many households are interested in condominiums, which are experiencing a meteoric rise in prices," said Charles Brant, director of the QPAREB’s Market Analysis Department. "In this context, small income properties (plexes) are also very popular among investors, particularly in areas surrounding the Island of Montreal, which is supported by a rental market that is expected to tighten as the purchasing power of households deteriorates."

    May highlights  

    • The real estate brokers’ Centris system recorded 5,398 sales transactions in the Montreal CMA in May. This represents a decrease compared to May of 2019, as May 2020 is not a representative reference month. The level of sales was consistent with that observed in April 2021 and confirms a slowdown in transactions.
    • A total of 2,628 single-family homes were sold across the CMA in May, a significant decline compared to May of 2019 (-13 per cent).
    • On the Island of Montreal, 2,118 sales were concluded in May 2021, a 7 per cent increase compared to May of 2019. This strong sales growth can be attributed to condominium sales, which have been increasing since the start of the year. In all periphery area, sales were down compared to May of 2019 (attributable to the drop in single-family home transactions): Saint-Jean-sur-Richelieu (128 sales, -14 per cent), Laval (546 sales, -11 per cent), the North Shore (1,148 sales, -11 per cent), the South Shore (1,226 sales, -5 per cent), Vaudreuil-Soulanges (232 sales, – 1 per cent).
    • For the CMA as a whole, a new sales record was set for condominiums with a total of 2,157 transactions, a 9 per cent jump compared to May of 2019, which is consistent with the trend since the start of the year. The same is true for plexes (608 sales, +12 per cent). Plex sales increased dramatically off the Island of Montreal, while single-family homes off-Island registered a drop in transactions (2,111 sales, -14 per cent) compared to May of 2019.
    • There were 5,204 active condominium listings in May, a 6 per cent increase compared to May of 2020. There was also an upward trend for plexes (2,059 listings, +26 per cent). As for single-family homes, active listings remained at an all-time low (4,184 listings, -40 per cent).
    • With market conditions still strongly in favour of sellers, and against a backdrop of overbidding, median prices reached $496,000 for single-family homes (+34 per cent compared to May 2020), $365,000 (+30 per cent) for condominiums, and $701,000 (+17 per cent) for plexes.

    Additional information:

    Quarterly statistics – Barometer for the province of Quebec

    Detailed and cumulative 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 This email address is being protected from spambots. You need JavaScript enabled to view it.

    About the Quebec Professional Association of Real Estate Brokers

  • Quebec City CMA: Acceleration in Overall Prices in a Context of Catch-Up and Overheating

    Quebec City, May 5, 2021 – The Quebec Professional Association of Real Estate Brokers (QPAREB) has just released its residential real estate market statistics for the Quebec City Census Metropolitan Area (CMA) for the month of April, based on the real estate brokers’ Centris provincial database.

    • Important note: several statistics for April 2020 are not representative due to the exceptional pause in transactional activities and new property listings during this period. April 2019 statistics are used in calculating variations (for informational purposes). However, April 2020 remains a valid reference in determining variations in median prices and active listings.

    "The rebound in the number of new listings of single-family properties in March resulted in a sustained increase in transaction activity in April," notes Charles Brant, director of market analysis. "All property categories in the Quebec City CMA are now being taken by storm by buyers aware of the potential for property prices to rise in this market," he adds.

    April highlights

    • Total sales: a new record of 1,091 sales, the highest number recorded in April since the real estate brokers’ Centris system began compiling market statistics. This record should, however, be put into perspective as the level of activity is generally more moderate than in March 2021.
    • The northern periphery of Quebec City continues to post a record level of activity for this period of the year with 149 sales (+26 per cent compared to April 2019), followed by the agglomeration of Quebec City with 762 sales (+18 per cent compared to April 2019). The South Shore of Quebec City recorded 180 sales, an increase of +29 per cent compared to April 2019.
    • Sales by property category: historic levels for April, with 308 condominium sales (+51 per cent compared to April 2019) and 98 plex sales (+92 per cent compared to April 2019). Sales of single-family homes (685 sales) approached the level of April 2019 with an increase of only 6 per cent.
    • Compared to April 2020, active listings of single-family homes continue their record drop (-54 per cent), which tightened market conditions in favour of sellers and contributed to overheating and overbidding in several sectors. Plexes and condominiums saw respective decreases of 15 per cent and 36 per cent.
    • The median price of single-family homes continues to experience an unprecedented acceleration in Quebec City: +21 per cent to reach $315,000. Condominiums and plexes respectively reached $203,000 (+10 per cent) and $360,000 (+12 per cent).

    Additional information:

    Quarterly statistics – Barometer for the province of Quebec

    Detailed and cumulative statistics for the province and regions

    For reference, consult the monthly statistics:

    If you would like additional information from the Market Analysis Department, such as specific data or regional details on the real estate market, please This email address is being protected from spambots. You need JavaScript enabled to view it.

  • Montreal Area: Half of Single-Family Home Sales Sold for Over $500,000 in April

    L’Île-des-Sœurs, May 5, 2021 – The Quebec Professional Association of Real Estate Brokers (QPAREB) has just released its residential real estate market statistics for the Montreal Census Metropolitan Area (CMA) for the month of April, based on the real estate brokers’ Centris provincial database.

    • Important note: several statistics for April 2020 are not representative due to the exceptional pause in transactional activities and new property listings during this period. April 2019 statistics are used in calculating variations (for informational purposes). However, April 2020 remains a valid reference in determining variations in median prices and active listings.

    "The number of transactions in the Montreal CMA reached a new record of 6,237 sales in April 2021 (+6 per cent compared to 2019). This healthy growth can essentially be attributed to condominium sales," says Charles Brant, director of market analysis. "In this context, it is astonishing to note that sales of single-family home are below the level recorded for the same period in 2019. The low inventory of single-family homes for sale and the dramatic increase in prices in April continue to drive the demand for condominiums, which are more affordable and have lower maintenance and renovation costs."

    April highlights

    • The real estate brokers’ Centris system recorded 6,237 sales in April, a new record. This level of activity is consistent with that observed in March and should be viewed as a maintenance of activities, not as an acceleration in the number of transactions.
    • The number of sales of single-family properties reached 3,114 which is below the April 2019 level (‑4 per cent), a decline that is more significant than it seems.
    • On the Island of Montreal, 2,399 sales were concluded, a record 17 per cent increase when compared to April 2019 and a level of activity consistent with that recorded last month. This robust activity can essentially be attributed to condominium sales following the same trend as that observed since the start of 2021.
    • Sales are down in most outlying areas compared to April 2019, the result of the drop in transactions in the single-family home category: Laval (609 sales, +4 per cent), the South Shore (1,378 sales, ‑2 per cent), Vaudreuil-Soulanges (271 sales, -3 per cent), Saint-Jean-sur-Richelieu (167 sales, -10 per cent). The North Shore stood out, however, with record activity for the month of April1 (413 sales, +1 per cent).
    • Condominium sales reached a new record (2,466), up 13 per cent from April 2019 across the CMA, which is consistent with the trend noted since the start of the year. Without setting a record, the same goes for small income properties (650 sales, +35 per cent). It is especially outside the Island of Montreal that plex sales have continued to surge. Single-family property sales (2,490) in outlying areas continue to decline: -7 per cent compared to April 2019.
    • Compared to April 2020, active listings of condominiums have increased by 22 per cent (5,298), with plexes also showing an upward trend (1,977 listings, +27 per cent). Active listings of single-family homes remain at an all-time low (4,249 listings, -40 per cent).
    • With market conditions still heavily favouring sellers, median prices are reaching new highs. The median price of single-family properties reached the psychological threshold of $500,000 (+39 per cent compared to April 2020). The growth rate of median prices also remains very high for condominiums and, to a lesser extent, for plexes with respective increases of 23 per cent and 15 per cent.

    Additional information:

    Quarterly statistics – Barometer for the province of Quebec

    Detailed and cumulative statistics for the province and regions

    For reference, consult the monthly statistics:

    If you would like additional information from the Market Analysis Department, such as specific data or regional details on the real estate market, please This email address is being protected from spambots. You need JavaScript enabled to view it.

    About the Quebec Professional Association of Real Estate Brokers

  • Denis Joanis Appointed President and Chief Executive Officer of the Quebec Professional Association of Real Estate Brokers

    L’Île-des-Sœurs, April 30, 2021 – The Quebec Professional Association of Real Estate Brokers (QPAREB) is pleased to announce the appointment of Denis Joanis as President and Chief Executive Officer.

    Mr. Joanis holds a bachelor’s degree in administration, a Licentiate in Law from the University of Ottawa as well as an MBA specializing in real estate from UQAM’s École des sciences de la gestion. He has acquired extensive experience as a manager and an in-depth knowledge of the real estate industry. During his career, Mr. Joanis has worked for the Chambre immobilière de l’Outaouais, the Quebec Federation of Real Estate Boards, Via Capitale and RE/MAX Québec, among others.

    "The QPAREB board of directors is extremely proud to have a manager of this calibre lead our organization," said Marc Lacasse, president of the board of directors. "His leadership abilities and deep understanding of the industry will be important assets to our Association."

    Among his objectives, Mr. Joanis wishes to contribute to the development of the real estate broker profession. In particular, he wants to promote the advantages of quality real estate information as well as the benefits of professional support from a broker.

    Denis Joanis began his new position on April 26, 2021.

  • 2021-2022 Federal Budget: Flagship Measures for a Future Rebalancing of the Housing Market

    L’Île-des-Soeurs, April 20, 2021 — The Quebec Professional Association of Real Estate Brokers (QPAREB) welcomes the real estate measures presented in the federal budget and stresses the importance of reducing the pressure that currently exists on the real estate market.

    "In the current context, particularly by contributing to the renovation of properties and the better use of vacant spaces, these measures are essential to support the growth of real estate supply, which is necessary to reduce the pressure on the Quebec market," comments Marc Lacasse, president of the Board.

    "The significant imbalance in the residential real estate market, combined with the economic impacts of the pandemic, expose this market to increased risk factors. If the situation persists, it could contribute to the overvaluation of properties in several Canadian markets, including Quebec. The measures announced by the federal government are a step in the right direction to help slow down this trend. Given the context today, additional initiatives should be put in place in the short term to stop the market from overheating and limit the effects on Quebec families. All levels of government must collaborate with the industry to find innovative solutions that are tailored to the current situation," says Charles Brant, director of the QPAREB’s Market Analysis Department.

    A 1% national tax on foreign investors

    Ottawa plans to impose a 1% tax on the value of residential real estate owned by non-residents and non-Canadians that is considered vacant or underutilized as of January 1st, 2022. Foreign owners will also have to file a declaration with the Canada Revenue Agency outlining how they are using the property. The QPAREB is in favour of measures to fight all forms of speculation in order to improve homeownership for all Canadians, including Quebecers, and to avoid residences’ overvaluation that would put the financial situation of households and the economy at risk.

    Assistance for the conversion of vacant space in downtown areas

    Due to the pandemic, $300 million is being allocated to convert downtown office and retail spaces into 800 units. Because the public health crisis led to a decline in demand for commercial space, some landlords found themselves with several vacant spaces. With this in mind, we are in favour of measures that would allow these spaces to find a new vocation.

    Home renovation loans

    A sum of $4.4 billion was announced to support the realization of eco-responsible renovations. The Canada Mortgage and Housing Corporation (CMHC) will be responsible for guaranteeing the interest-free loan program, which will be limited to $40,000. The budget provides a short list of eligible renovations examples, such as improved insulation, installation of a high efficiency water heater, replacement of airtight doors and windows, replacement of an oil furnace with a high efficiency heat pump or boiler, and installation of solar panels.

    The QPAREB believes that all efforts and incentives to preserve and renovate properties are a step in the right direction to replenish the currently deficient real estate supply. This is particularly true for initiatives directed at heritage properties and properties that are generally well located.

    Help for homeowners with pyrrhotitis-related problems

    Finance Minister Freeland promised to increase the assistance already offered by the Government of Quebec on this issue. The amount will be specified later in the fall during the economic statement. The QPAREB is enthusiastic about the idea of possible improvements to government programs in order to combat this problem that threatens Quebec’s housing stock.

    A GST refund for new homes

    The GST rebate on new properties priced up to $350,000 is now available when the property is the principal residence of a purchaser or a member of the purchaser’s family. This is an initiative that promotes access to quality properties while encouraging the promotion of new residential real estate developments.

    Remember that this budget and all the measures tabled yesterday must be debated and will be submitted to a vote of confidence.

    About the Quebec Professional Association of Real Estate Brokers