Home Sales Drop In Quebec City

The number of transactions concluded in the Quebec City, QC, census metropolitan area (CMA) fell to 589 sales in August, a decrease of 29 per cent over August 2020 and the third consecutive month of decreases, says the Quebec Professional Association of Real Estate Brokers (QPAREB). By property category, there were 343 single-family home transactions, a 38 per cent decrease compared to August of last year and the largest drop among the three main property categories. Sales of condominiums fell by 10 per cent while plex sales decreased only slightly from a year earlier, at three per cent. The supply of residential properties for sale continued to contract for the month, dropping a substantial 39 per cent compared to August of last year. This was mainly due to an insufficient number of new listings on the market.