Plex sales: median price up in the first quarter

The median selling price of plexes (two to five units) sold in Québec reached $380,000 in the first quarter of 2018, a 6% increase compared to the same period last year.

For the past five years, the mid-price for this type of building has jumped 13% in Québec, according to the Québec Federation of Real Estate Boards Barometer, based on the Centris system.

For Montréal’s Census Metropolitan Area (CMA), the mid-price of plexes traded during the first quarter of 2018 increased by 7% compared to last year, reaching $490,000. The increase is of 17% since five years.

In the Trois-Rivières CMA, the median selling price of plexes jumped 10% in the first quarter of 2018 compared to last year, moving up to $165,000. Over the last five years, the median price of plexes has increased by 5%.

Conversely, the median selling price for Québec’s CMA has decreased by 6% compared to the same quarter last year, standing at $285,000. That's $205,000 less than in Montréal. Over the last five years, the median price of plexes in the Québec City area has not changed significantly, remaining around $285,000.

Sherbrooke’s CMA also recorded a decrease, the median selling price moving to $207,500, which is equivalent to a small decrease of 1% compared to last year. Over the course of five years, the median selling price of plexes has dropped by 5%.

For Saguenay’s CMA, the median sales price rose to $172,000, namely 4% more than for the same period in 2017. However, for the past five years, the median price registered a decrease of 4%.

Finally, for Gatineau’s CMA, the median selling price of a plex was $276,500 in the first quarter of 2018, the same as a year earlier. Over the last five years, the increase has been 5%.

More plexes and condos sold

Moreover, the number of plexes sold in Québec during the first quarter 2018 was 1679, up 2% compared to the same period in 2017. Four out of the six census metropolitan areas recorded sales growth: Trois-Rivières (+ 6%), Montréal (+ 5%), Gatineau (+ 3%) and Saguenay (+ 3%).

As for condo sales in Québec, the increase was 13%, reaching 5,260 units sold. In the first quarter of 2018, the median sale price of a condominium was $229,000, up 3% compared to the same period last year.