{"id":32808,"date":"2025-01-20T11:49:28","date_gmt":"2025-01-20T16:49:28","guid":{"rendered":"https:\/\/realta.ca\/?p=32808"},"modified":"2025-01-20T11:58:00","modified_gmt":"2025-01-20T16:58:00","slug":"the-year-2024-ended-with-a-roar-in-quebecs-resale-market","status":"publish","type":"post","link":"https:\/\/realta.ca\/en\/the-year-2024-ended-with-a-roar-in-quebecs-resale-market\/","title":{"rendered":"The year 2024 ended with a roar in Quebec’s resale market."},"content":{"rendered":"\t\t
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We can say that the impact of lower interest rates was quickly felt in the residential real estate market. After property sales increased by 34% in October and 41% in November, the latest statistics published by APCIQ show another spectacular jump: a 52% [1] increase in the number of transactions completed in December 2024.<\/p>

What\u2019s more, for the first time since June 2022, the number of properties for sale (active listings) declined last month.<\/p>

Over the past year, price growth has been steady. Median prices rose by 12%, 8%, and 23% for single-family homes ($460,000), condominiums ($390,000), and plexes with 2 to 5 units ($623,750), respectively.<\/p><\/div><\/div><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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2024: A Year of Recovery<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Despite a slow start, 2024 ended on a high note, with a 19% increase in residential sales in Quebec, driven by the market\u2019s momentum in recent months. In contrast, sales had dropped by 13% in 2023.<\/p>

For the year as a whole, price increases significantly outpaced inflation [2], with median price growth of 8% for single-family homes, 5% for condominiums, and 12% for plexes with 2 to 5 units.<\/p>

While there were, on average, 14% more properties for sale last year, market conditions consistently favored sellers.<\/p>

Lastly, selling times remained quick in 2024, with only slight increases. On average, it took 60 days to sell a single-family home or a condominium, up by 6 and 2 days compared to 2023, respectively. Plex sales were completed in an average of 78 days (+2 days).<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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[1] All variations are calculated in comparison to the same month in 2023.
[2] Inflation in Quebec is expected to be around 2.3% in 2024.<\/div><\/div><\/div><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

We can say that the impact of lower interest rates was quickly felt in the residential real estate market. After property sales increased by 34% in October and 41% in November, the latest statistics published by APCIQ show another spectacular jump: a 52% [1] increase in the number of transactions completed in December 2024. What\u2019s […]<\/p>\n","protected":false},"author":10,"featured_media":32792,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-32808","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-other"],"acf":[],"yoast_head":"\nThe year 2024 ended with a roar in Quebec's resale market. | Realta<\/title>\n<meta name=\"description\" content=\"We can say that the impact of lower interest rates was quickly felt in the residential real estate market. 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