Quebec City July Home Sales, Listings Decline

A total of 539 residential sales transactions were concluded in the Quebec City, QC, census metropolitan area (CMA) in July, a 40 per cent decrease compared to July of last year, says the Quebec Professional Association of Real Estate Brokers (QPAREB). The northern periphery of the city registered the largest drop in sales in the region, falling by 50 per cent. The agglomeration of Quebec City and the South Shore of Quebec City also registered substantial decreases in sales of 37 per cent and 38 per cent, respectively. After a record-setting month of June, two- to five-unit income properties (plexes) saw sales decrease by 35 per cent year-over-year and condominium sales were down 24 per cent. Market conditions remained particularly tight for single-family homes in the CMA, as active listings fell by 49 per cent compared to July of last year. A similar trend was observed for condominiums, as active listing dropped by 36 per cent.