Median price of condos continue to rise in Quebec

For the past 6 years, the median price per square foot of condominiums has continued to increase in the province of Quebec, rising from $223 in 2015 to $340 in 2021. This translates into an increase of 52 per cent.

According to the Quebec Professional Association of Real Estate Brokers (QPAREB), in 2021, the Montreal Census Metropolitan Area (CMA) posted the highest prices for condominium transactions according to the net surface area, with a median price of $379 per square foot (see table below

). In particular, the most expensive markets in Quebec were found on the Island of Montreal and in Laval, with median prices per square foot of $496 and $345 respectively. It is also important to note that with a median surface area of 960 square feet, units sold in the Montreal CMA were generally smaller than condominiums sold elsewhere in the province, where the average surface area exceeded 1 square feet. The Gatineau CMA followed Montreal in second place with a median price per square foot of $252, followed by that of Quebec City at $231 per square foot. Outside the metropolitan areas, the “top 3” most expensive municipalities are Bromont ($410/sq. ft.), Mont-Tremblant ($349/sq. ft.) and Saint-Sauveur ($317/sq. ft.).