The Quebec Federation of Real Estate Boards (QFREB) predicts that condominium prices in the metropolitan Montreal region will remain stable in 2014, and that a slight surplus in supply will continue. Median condo prices are expected to reach $227,000 and market conditions are poised to favour condo buyers.

“The economic environment (of the Quebec region) will remain generally favorable to the real estate sector in 2014,” says Paul Cardinal, QFREB market analysis manager. “Although we anticipate a slight increase in five-year mortgage rates in the second half of the year, other factors support the idea of an increase in demand, the main one being a growth in population in recent years due to an improvement in net migration.”

QFREB anticipates that approximately 73,500 residential sales will take place by the end of 2014, representing a three per cent increase from 2013. This projected increase is supported in part by predictions of accelerated economic growth and job creation in 2014.

A region-by-region real estate analysis of 2013 census data, economic indicators and market conditions in the Montreal area helped QFREB market analysts develop their 2014 forecast.