The High-end Residential Market is Booming in Québec

According to a newsletter from the QFREB in the first ten months of the year, the number of residential transactions under $500,000 showed a modest increase of 4% across the province as compared to the same period last year, while resale transactions at $500,000 or more registered a 16% increase. Moreover, sales of properties at $1 million or more jumped by 31% compared to the same period in 2014.

 

Among the three property categories, single-family homes posted the largest increase (18%) in the number of transactions concluded at $500,000 or more from January to October 2015. Increases of 20% and 23%, respectively, were registered in the first two quarters of the year, while a 13% increase was observed in the third quarter. Although single-family home sales at $500,000 or more rose significantly across the province, they represent only 7% of all single-family home transactions registered on the Centris® system so far in 2015.

 

 

Rakel Saad

Rakel Saad

Real Estate Broker
CENTURY 21 Vision
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