Montreal, Quebec City Home Sales Climb

Home buyers in Montreal and Quebec City, QC, rushed to buy a record number of homes at the start of the year, but had fewer options to choose from, says the Quebec Professional Association of Real Estate Brokers (QPAREB). Montreal sales climbed to 3,971 in January, up 17 per cent from 3,398 the year before while Quebec City’s sales during the same month reached 829, a 16 per cent jump from 713 in 2020. The record highs show that house hunters weren’t deterred from snatching up properties even as the province contended with strict lockdowns and curfews meant to keep Quebecers home and curb COVID-19. However, January was the first month since June 2020 that the increase in sales was well below the 40 per cent mark in Quebec City. That easing is likely due to active listings falling by nearly two-thirds in the past 12 months in the single-family home category and the Quebec City market seeing a strong increase in sales last January. The QPAREB said the number of active listings this January dropped by 48 per cent to 3,848 in Quebec City and 25 per cent to 11,176 in Montreal.