September Quebec City home sales up six percent

The Quebec City, QC, census metropolitan area (CMA) had 634 residential sales in September, an increase of six percent compared to September 2022, says the Quebec Professional Association of Real Estate Brokers (QPAREB). This is the third-best level of transactional activity recorded in the region for this time of year since the Centris system began compiling market data in 2000.

“The Quebec City market continues its momentum, once again defying the pressure exerted by the recent wave of rising interest rates. Buyers from the CMA seem more confident in the economy of their region, despite a more negative provincial economic outlook. The relatively affordable and attractive residential market, combined with solid economic fundamentals, means that households in this region are less sensitive to rising interest rates,” explains Charles Brant, QPAREB Market Analysis Director.

Transactional activity per property category varied between zero percent and +16 percent. The condominium category, with 186 sales, led the way with a marked rise in sales of 16 percent.

Transactions of small income properties rose by 13 percent for a total of 62 sales. Finally, sales of single-family homes reached 376, which represents zero variation compared to the same period last year.