Connect with us

Real Estate News

Record-breaking sales in Quebec’s real estate market continued, driven by renewed interest in condominiums and plexes

Published

on

L’ILE-DES-SŒURS, Quebec, July 19, 2021 (GLOBE NEWSWIRE) – The Quebec Professional Association of Real Estate Brokers (QPAREB) has just released its quarterly residential real estate market statistics for the province of Quebec, based on the Centris provincial database of real estate agents .

In total, 31,899 residential property sales were completed in Quebec in the second quarter of the year, up 45 percent from the second quarter last year when sales were severely hampered by the pandemic and declined 24 percent. However, the number of transactions in the second quarter of this year represents a new sales record in the second quarter.

“One year after the lockdown measures, which led to a slump in home sales, it is clear that the market has more than recovered: It has experienced a phenomenal acceleration and recorded record sales and price increases. But while records were still being broken in the second quarter of 2021, revenue growth has slowed, ”said Charles Brant, director of QPAREB’s market research division, worried many industry watchers. However, given the record price increases for all property categories and the widespread shortage of single-family homes and, to a lesser extent, condominiums, this activity is unsustainable, upward trend in mortgage rates, the implementation of market calming measures, and the impact of the end of the health crisis on savings behavior and private behavior Households suggest that sales levels will decline by the end of the year, ”he added.

Here are the highlights of the second quarter of 2021.

sales

  • By property category, Quebec single-family home sales grew 28 percent for a total of 19,842 transactions in the second quarter of the year. This corresponds to the 19,327 transactions that were completed in the second quarter of 2019. Single-family home sales fell 20 percent in the second quarter of 2020.

  • Condominium sales rose 76 percent to a total of 8,377 transactions. This property category saw a significant 34 percent decline in the second quarter of last year from the 7,230 sales completed in 2019.

  • Plex sales were particularly strong in Quebec for the second quarter of the year, with a total of 3,505 transactions, up 119 percent from the second quarter of last year. Due to the pandemic, Plex sales fell 33 percent in the second quarter of last year, falling from 2,391 sales in the second quarter of 2019 to 1,604 sales in the second quarter of 2020.

  • Among the metropolitan areas of the province, the CMA Montreal recorded a sustained increase in sales (60 percent), which was mainly due to the effects of the pandemic last year. In the second quarter of last year, the CMA in Montreal recorded a revenue decline of 36 percent compared to an average of -19 percent for the five other metropolitan areas of the province.

  • In contrast to the first quarter of 2021, in the second quarter of the year it was the metropolitan areas with the greatest sales growth (53 percent), while the areas outside the metropolitan areas recorded significant but more moderate increases (28 percent). It should be noted that these two market groups were affected differently by the decline in sales in the second quarter of 2020: -31 percent for the CMAs and -6 percent for the peripheral areas.

  • The metropolitan areas with the highest sales increases in the second quarter of 2021 included Mont-Tremblant (+125 percent), Salaberry-de-Valleyfield (+72 percent), Rivière-du-Loup (+67 percent) and Shawinigan (+56 percent).

Active entries

The story goes on

  • The active quotes in the Centris system continued to decline sharply in the second quarter and reached 26,817, which corresponds to a decrease of 36 percent compared to the second quarter of the previous year.

Prices

  • With more than a third of single-family home transactions closed at prices above the asking price, the median price for this property category climbed to $ 373,000 in the second quarter of 2021, up 35 percent from the second quarter of last year.

  • The median condominium price also rose significantly by 31 percent to $ 335,000.

  • The median price for Plexes (2 to 5 apartments) also followed the trend, increasing 23 percent to $ 470,000.

Market Conditions and Selling Times

  • The decline in properties for sale continued across the province and reached a record low: in the second quarter of 2021, there were less than three months of inventory on the market, for the first time since the Centris system began collecting market data. However, the slowdown in sales seen in June could help reverse that trend in the third quarter.

  • The acceleration of sales times across the province continued in the second quarter: for all property categories combined, it took an average of 48 days for a property to sell. This represents a decrease of 55 days compared to Q2 2020 and the lowest sales time ever recorded.

Click here to view market stats for the entire province.

Through the Quebec Real Estate Association

The Quebec Professional Association of Real Estate Brokers (QPAREB) is a not-for-profit association that brings together more than 13,000 real estate brokers and agencies. He is responsible for promoting and defending their interests, taking into account the interests of the profession and the different professional and regional circumstances of its members. QPAREB is also an important player in many real estate dossiers, including the implementation of measures to promote home ownership. The association reports on Quebec’s residential real estate market statistics, provides training, tools and services related to real estate, and facilitates the collection, dissemination and exchange of information. QPAREB is headquartered in Quebec City and has administrative offices in Montreal. It has two subsidiaries: Centris Inc. and the Collège de l’immobilier du Québec. Follow his activities on qpareb.ca or through his social media pages: Facebook, LinkedIn, Twitter and Instagram.

About Centris

Centris is a dynamic and innovative technology company in the real estate sector. It collects data and offers solutions that are highly tailored to the needs of professionals. One of these solutions is Centris.ca, the most visited real estate website in Quebec.

Click the links below to view the regional press releases:

Montreal CMA
Quebec City CMA
Gatineau CMA
RMR de Sherbrooke
Saguenay CMA
Trois-Rivières CMA
Granby agglomeration
Joliette agglomeration
Urban areas of the Laurentians
Agglomeration of Saint-Hyacinthe
Drummondville and Victoriaville metropolitan area
Agglomeration of Val-d’Or and Rouyn-Noranda

For more informations:

Image database (credit QPAREB) available free of charge.

Marjolaine Beaulieu
publicist
Communication and marketing
1-888-762-2440 or
514-762-2440, diam. 238
media@qpareb.ca

1 Overheating occurs when, in a certain period and on a certain market, the ratio of the number of properties sold to the number of new properties on the market is more than 70%, i.e. if more than 7 properties are sold every 10 new offers .

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Real Estate News

Celebrating 40 years in Taos Real Estate | Success Stories

Published

on

Louise Rose is just as individualistic in her attitude as she is as an independent Taos broker. This combination has ensured that it successfully brings clients together with the home, land or investment of their dreams.

Before Louise moved here, she was a stockbroker with a NYSE firm. She raised her sons Justin Bailey and Andrew Morrison, who graduated from the eclectic and distinguished Taos High School. “Children who grow up here are well prepared to live anywhere in the world.”

Louise is blessed with loyal clients who appreciate her upbeat approach, ability to listen, and insane sense of humor.

“Finding someone for the perfect home or ranch is the most personal transaction they can have,” said Louise. “It’s worth finding exactly what you’re hoping for. To get to know a customer, you have to listen carefully. Especially if you come from outside the city, it is important to understand exactly what attracted you to our unique and fascinating heart and soul of the Southwest. “

It’s an intuitive process that takes countless hours with people of many languages, cultures, and ethnicities. Often times the first home she shows them is the one they choose.

“Show them what they want; not what other customers desperately want or need to sell unless it’s the perfect thing. That saves everyone a lot of wear and tear. “

Louise has lived in Taos since 1973 and has seen many changes. She believes that no matter how many people move here, the spirit and essence of Taos never change.

In 1982 she carried out the first “Realtor Tours” together with another broker. Within two years, the brokers were ready for a multiple listing service (also known as MLS). Customers finally got the benefit of knowing that the home they were buying was the best choice for them and they no longer had to go to every real estate agent in town to find out what was for sale.

In 1985 she and two other people brought the first real estate franchises to Taos. Louise sold her successful ERA Taos Realtors in 1991. Three years later, she bought the Realty World, Taos franchise and then sold it to work independently.

With the market hot today, her boutique business is in demand through word of mouth and referral.

Louise said, “I personally rarely go to a doctor or lawyer for advertising because the most experienced and talented are as busy as they can get. When I do advertising, it is to the benefit of my salespeople, so that they get the attention. ”

Her longstanding clients include the Comptons: Mike, a successful commercial high quality contractor, and Jane, the Taos optician, whose first appointment is in early October.

Louise sold the Comptons her first Ranchos home, the first they looked at; and then 20 years later she sold it for them to the first buyers who looked at it.

The new doctor, his wife, and their poodle lived in a motel and needed a place to stay immediately.

Two weeks later, the Comptons were out with their two young daughters, four horses and three dogs.

The Comptons are currently selling Taos Creek Cabins, which can be seen in the pictures with Louise on this page.

Pat Allen, another longtime Taoseño and owner of 9 to 5 Ship & Print, said, “I remember the first house Louise showed me was the one I bought. It was the easiest purchase ever. She is still my broker after 30 years.

Louise’s pink, white, and black property signs are eye-catching. Each carries a reminder, “Please don’t disturb the owner,” a thoughtful touch that embodies both the agent’s signature personal style and savvy business acumen.

Louise has enjoyed a life of world travel and adventure and, when she’s not selling real estate, is working on a book. If you are a happy new customer, she will pamper you with stories and you will instantly connect with this powerhouse of energy. They know that you made the right choice in choosing your broker.

“The last decade has been the best of my life and I’ve been happier than ever,” she said. Share your enthusiasm and let Louise Rose help you find the home that will make you happier than ever.

Continue Reading

Real Estate News

Tucker Carlson exposes real estate companies ‘wrecking’ America

Published

on

“Gavin Newsom is turning the state of California into a swamp,” said Fox News host Tucker Carlson on Tucker Carlson Tonight.

TUCKER CARLSON: In addition to all of the other problems California has, property prices are higher there than anywhere in the country. The average home price in the state of California is now over $ 800,000, more than double the national median. In the past few years, California leaders have passed dozens of laws that they claim will fix the problem because it really is a problem. Governor Jerry Brown, the last man, signed 15 housing laws in 2017 alone. Last year, Gavin Newsom signed 18 separate housing laws. Did it work? No not at all. They didn’t work for the people who live in California. But they weren’t intended for people who wanted to buy houses. Instead, these bills had one purpose: to destroy suburban houses and replace them with high-density apartments. Of course, real estate developers make more money when single-family houses are leveled and replaced by multi-family houses. And real estate developers happen to be the main donors to the California Democratic Party, and Gavin Newsom in particular.

Real estate development company Marcus was one of Newsom’s largest funders in the recent recall election. This week, after surviving the recall, Gavin Newsom tragically rewarded these real estate developers with the largest housing bill ever. Newsom has just signed a series of laws, SB9 and SB10, that will abolish the suburbs in the state of California. The state that invented the suburbs. These bills were approved by the California Building Industry Association, which, citing, “represents the interests of home builders and developers of residential and commercial projects. There will be some new commercial projects in the California suburbs.” As the New York Times put it, you quote, “SB9 essentially ends the single-family zone zones.” Property owners now have state approval to convert any single family home in the state of California into a 4 unit apartment complex. How does this improve someone’s life? It will not. It means demolishing houses to build rental units.

At the behest of his donors, Gavin Newsom is turning the state of California into a swamp. It’s not just happening in California, Oregon recently passed a nationwide ban on single-family home zoning. That’s crazy! Cities like Minneapolis and Sacramento have started allowing apartment buildings on single-family lots. Crowding problem anyone thinks? By the way, only the Chinese government seems to be doing everything possible to rule the real estate developers. “Housing should live and not for speculation,” said the Chinese president. Woo, I hate to quote the President of China but in this case he’s right, one of the largest and most indebted real estate companies in the world is collapsing and China has signaled that it will never be interested in a bailout again. In this country, real estate companies not only get bailouts, they can also write laws that destroy your neighborhood. And in many parts of America, they can tear down the neighboring house and turn it into a residential complex. Big!

Continue Reading

Real Estate News

Crow Holdings Announces Closing of Ninth U.S. Diversified Value-Add Real Estate Fund with Approximately $2.6 Billion of Investable Capital

Published

on

DALLAS – (BUSINESS WIRE) – Crow Holdings, a leading national real estate investment and development firm, today announced the definitive closing of Crow Holdings Realty Partners IX, LP (“Fund IX” or the “Fund”). Managed by Crow Holdings Capital, Crow Holdings’ investment management company, the fund invests in value-adding real estate investments in the United States, primarily in industrial and multi-family homes and specialty sector opportunities.

Fund IX was oversubscribed with approximately $ 2.3 billion in commitments, above its original ceiling of $ 2.0 billion, and received strong support from existing investors and significant participation from new investors, including global banks and Insurance companies, pension plans, family offices and high net worth individuals. The fund has also co-invested a total of $ 265 million in equity, resulting in total investable equity of approximately $ 2.6 billion for the strategy. Fund IX marks the company’s largest fundraiser to date and is a significant increase over the $ 1.3 billion pledges raised for the previous fund.

The fund focuses on diversified value-add investment and development opportunities in multiple property types in major US markets. Today these possibilities exist mainly in industrial and multi-family houses as well as in special sectors such as prefabricated houses, comfort and gas, self-storage and student dormitories. The fund was fully launched during the Covid-19 pandemic and began investing during this challenging time as well. To date, more than 63% of the fund’s capital has been invested in 62 investments, primarily in the high-growth regions of the Southwest, Southeast and Mountains of the United States

“We appreciate the trust our investment partners have in the continued ability of our team to deliver results to them,” said Michael Levy, CEO of Crow Holdings. “This successful degree shows recognition for our company’s long-standing track record, real estate expertise and, in particular, for our early recognition of the considerable tailwind behind the demand for logistics and e-commerce, the changing population demographics and changing housing preferences as an integral part of our differentiated investment strategy . ”

“With more than 63% of the capital employed in Fund IX, we are already achieving strong investment results, including the repatriation of capital at the beginning of the fund’s life cycle through rapid realizations. This achievement is recognition of the team who have worked hard during this unprecedented and challenging time to continue fulfilling our commitment to all partners, ”said Bob McClain, CEO of Crow Holdings Capital. “We believe that our pipeline – particularly in the industrial, multi-family and specialty sectors – will continue to offer attractive opportunities to grow results throughout the life of the fund.”

Hodes Weill Securities, LLC acted as placement agent for Fund IX.

About Crow Holdings

Crow Holdings is a leading national real estate investment and development company with 70 years of operations and $ 21 billion in assets under management. With a strong track record across property types and market cycles, Crow Holdings pursues unique investment opportunities through a range of strategies and risk-return profiles, creating value for its investors, partners and communities. Operating out of 17 offices in the United States, Crow Holdings has extensive industry reach with expertise in multi-family, industrial, office and specialty sectors and has developed or acquired more than 225 million square feet. Our core principles of partnership, collaboration and reconciliation of interests remain central to Crow Holdings today. More information is available at www.crowholdings.com.

Continue Reading
Advertisement

Trending