Despite sustained activity in 2019, Sherbrooke’s market is only gradually recovering Sherbrooke, January 31, 2020 – The APCIQ, in conjunction with the Chambre immobilière de l’Estrie et du Centre du Québec, has just published the latest statistics on the residential real estate market in the census metropolitan area. (CMA) of Sherbrooke, based on the provincial Centris database of real estate brokers.

As a result, 2,000 residential sales were recorded in 2019, representing the highest annual resale market activity in the Sherbrooke CMA since 2007 (+7%).

Here are the highlights of 2019.

Sales

• The single-family segment posted an 8% increase in sales in 2019. It’s worth noting that the popularity of single-family homes was closely followed by that of two- to five-unit income properties, whose sales posted substantial gains (+11%).
• In contrast to 2018, activity in the condominium segment was much lower (+2%).
• The sectors that stood out the most in 2019 were Fleurimont (+16%), Brompton-Rock Forest- Saint-Élie-Deauville (+12%) and Les Nations (+9%).

Price

• In the CMA as a whole, the median price of single-family homes grew by 2% in 2019, reaching $215,000. This is a timid increase despite favorable market conditions for sellers in this segment.
• Magog (+6%) and Les Nations (+11%) posted the highest median price increases for single-family homes in 2019.
• For condominiums, after a 4% increase in median price in 2018, the trend is still in search of a solution in 2019, with a 2% decline in prices. The situation is similar for plexes, whose median price had jumped 10% in 2018 and remained relatively stable at $232,500 in 2019 (+1%).

Current listings

• Across all categories, 1,312 properties were for sale through the Centris real estate broker system, a significant decrease of 15%. This is the fourth consecutive year of decline.

Sales deadlines

• Overall, sales times shortened slightly last year. Across all property categories in the CMA, the average selling time was 117 days, down 12 days from 2018.
• However, sales times remain longer in Magog and the surrounding area, averaging 130 days and 136 days respectively, compared to 110 days in Sherbrooke.

“Market conditions continue to improve for single-family homes in the Sherbrooke metropolitan area,” notes David Bourgon, President of the Chambre immobilière de l’Estrie et du Centre du Québec. “On the other hand, condominium market conditions continue to evolve very gradually towards equilibrium or in favor of buyers for plexes,” he adds.

For more detailed statistics on each of Quebec’s regions, consult the APCIQ Barometer.

About Centris

Centris.ca is the Quebec real estate industry’s consumer website, where all properties for sale by real estate brokers in Quebec are brought together at a single address. Centris offers real estate industry players access to real estate data and a wide range of technological tools. Centris also manages the collaboration system used by over 13,000 Quebec real estate brokers.