July 07, 2020 13:00 ET | Source: Quebec Professional Association of Real Estate Brokers (QPAREB)

photo-release

Residential Sales June 2020

QUEBEC CITY, July 07, 2020 (GLOBE NEWSWIRE) -- The Quebec Professional Association of Real Estate Brokers (QPAREB) has just released its most recent residential real estate market statistics for the Quebec City Census Metropolitan Area (CMA), based on the real estate brokers Centris provincial database.

In total, 924residential sales transactions were concluded in June 2020, a 47 per cent increase compared to June of last year.

The real estate market in the Quebec City CMA rebounded strongly in June, once again posting a level of sales that has remained well above that of the other CMAs since the start of the health crisis in late March, despite the restrictions placed on brokerage activities," said Julie Saucier, president and chief executive officer of the QPAREB. The market continues its astonishing momentum that nothing seems to be able to stop. In the past year, despite the increase in sales, we had not observed a significant drop in active listings in the Quebec City CMA, except for April and May when the market was put on hold. June is the first month we can confirm a significant tightening of market conditions."

Sales by geographic area

Sales by property category

Prices

Number of properties for sale

In June, there were 5,824 active residential listings in the Quebec City CMA, a much lower level (-24 per cent) than in June of last year, confirming an acceleration in the improvement of market conditions in the absence of a catch-up in new listings (unlike in all other CMAs), for all three property categories.

For June 2020 and year-to-date statistics charts, click here.

About the Quebec Professional Association of Real Estate Brokers

The Quebec Professional Association of Real Estate Brokers (QPAREB) is a non-profit association that brings together more than 13,000 real estate brokers and agencies. It is responsible for promoting and defending their interests while taking into account the issues facing the profession and the various professional and regional realities of its members. The QPAREB is also an important player in many real estate dossiers, including the implementation of measures that promote homeownership. The Association reports on Quebec's residential real estate market statistics, provides training, tools and services relating to real estate, and facilitates the collection, dissemination and exchange of information. The QPAREB is headquartered in Quebec City and has its administrative offices in Montreal. It has two subsidiaries: Centris Inc. and the Collge de l'immobilier du Qubec. Follow its activities at qpareb.ca or via its social media pages: Facebook,LinkedIn,TwitterandInstagram.

About Centris

Centris.ca is Quebecs real estate industry website for consumers, grouping all properties for sale by a real estate broker under the same address. Socit Centris provides real estate industry stakeholders with access to real estate data and a wide range of technology tools. Centris also manages the collaboration system used by more than 13,000 real estate brokers in Quebec.

For more information:

Tassa Hrycay Director Communications and Marketing

1-888-762-2440 or 514-762-2440, ext. 157 media@qpareb.ca

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1cb3dc7a-8696-4bb5-8011-6a67cf5cc4a6

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Quebec City CMA: Spectacular Rebound in Sales as Active Listings Drop - GlobeNewswire