Here’s a breakdown of the key information from the provided text, focusing on the Quebec real estate market:
Key Forecasts (Royal LePage):
* Overall: The real estate market in the Quebec City region is expected to continue to rise, but at a more moderate pace.
* Houses: Expected to increase by 6%
* Condos: Expected to increase by 5%, with a median price of $236,160 by the end of 2026.
Factors influencing Condo Prices:
* Law 16: The implementation of Law 16 (last summer) is impacting condo values. This law imposes obligations on condo owners (potentially requiring significant special assessments – up to $100,000 over 5 years) and makes buyers more cautious.
* Market Cooling: The market is expected to become less frenzied,with fewer bidding wars. This means sellers will need to price their properties more accurately.
2025 Projections (APCIQ Data – Association professionnelle des courtiers immobiliers du Québec):
* Sales volume: 10,271 sales in the Quebec city metropolitan area (a 5% increase from 2024).
* Total Sales Value: $4