Single-family home prices in Quebec’s popular ski regions rise 22.1% in 2021
- Bromont’s real estate market posted the strongest median price growth among the regions surveyed, since the beginning of the year.
- Six of the eight regions surveyed saw a decrease in sales, due to a chronic lack of supply.
- Mont-Tremblant reports an increase in U.S. buyer demand since the reopening of land borders earlier this year.
- Royal LePage is forecasting an increase of 0% in the median price of a single-family home in the surveyed regions in 2022.
BROSSARD, November 25, 2021 – According to the Royal LePage Winter Recreational Property Report,[1] which focuses on residential real estate markets around the major ski hills in the province of Quebec, the median price of a single-family home increased 22.1% year-over-year to $422,500, since the beginning of 2021. Meanwhile, the median price of a condominium rose 9.1% year-over-year to $299,200. Remote work and an increased desire for more space with access to nature have sparked unprecedented demand from buyers in urban centres, pushing prices sharply upward over the past year.
Among the eight recreational regions studied, Bromont’s real estate market saw the strongest median price growth for both single-family homes and condominiums. The median price of a single-family home rose 58.7% year-over-year to $607,000, while the median price of a condominium increased 41.1% year-over-year to $381,000, since the beginning of 2021.
In the vast majority of regions studied in the province (75%), Royal LePage observed a decrease in sales due to the chronic shortage of inventory accentuated by an increase in residential demand since the onset of the pandemic. Royal LePage is forecasting an upward trend in property prices across the Alpine regions studied, albeit more moderate than in 2021, with an expected increase of 6.0% in the median price of single-family homes in 2022 ($447,900). Royal LePage anticipates the winter recreational real estate market in the first half of 2022 will remain competitive, taking into account that the expected rise in interest rates could slow demand during the second half of the year.
Data chart – Royal LePage 2021 Winter Recreational Property Report (Province of Quebec): rlp.ca/table_2021winterrecreationalreport_QC
Mont-Tremblant (Mont-Tremblant, Saint-Faustin-Lac-Carré, La Conception)
Since the beginning of the year, the median price of a single-family home near Mont-Tremblant increased 21.8% year-over-year to $405,000, while sales increased 7.4% during the same period. The median price of a condominium in the region remained stable, decreasing 0.3% year-over-year to $329,000, while sales increased 29.6% during the same period. For those looking for a property slopeside or within walking distance of the base of the mountain, the starting price is typically $1,000,000 for a single-family home and $500,000 for a condominium.
“During the pandemic, the Mont-Tremblant region welcomed many new households looking for a secondary or primary residence,” said Louis Bernier, manager and real estate broker, Mont-Tremblant Real Estate, a division of Royal LePage. “The region attracted not only buyers from within the province; we are also seeing a significant increase in demand from the United States as well. Affordability, its multitude of lakes and the variety of year-round activities available, not to mention the fact that Mont-Tremblant is a world class resort in North America, are just some of the reasons the area has garnered international attention.”
Bernier added that demand for luxury homes in Mont-Tremblant has risen since the onset of the pandemic.
Royal LePage is forecasting that the median price of a single-family home in the region will increase 8.0% in 2022.
Data chart – Royal LePage 2021 Winter Recreational Property Report (Province of Quebec): rlp.ca/table_2021winterrecreationalreport_QC
Mont Saint-Sauveur (Saint-Sauveur, Morin-Heights, Piedmont)
Since the beginning of the year, the median price of a single-family home near Mont Saint-Sauveur increased 32.4% year-over-year to $470,000, while sales decreased 16.6% during the same period. The median price of a condominium in the region increased 25.4% year-over-year to $312,250, while sales remained stable, decreasing 0.8% during the same period. For those looking for a property slopeside or within walking distance of the base of the mountain, the starting price is typically $500,000 for a single-family home and $300,000 for a condominium.
The ability to continue working remotely and an increase in demand for luxury real estate are among the driving forces of price growth in the area, according to Royal LePage experts.
“We’ve seen a strong migration of buyers from the Greater Montreal Area in search of a peaceful and spacious place to work since the onset of the pandemic,” said Éric Léger, real estate broker, Royal LePage Humania. “As proximity to the workplace is no longer a priority, the Laurentians quickly became a top choice for buyers.”
Royal LePage is forecasting that the median price of a single-family home in Mont Saint-Sauveur will increase 7.5% in 2022.
Data chart – Royal LePage 2021 Winter Recreational Property Report (Province of Quebec): rlp.ca/table_2021winterrecreationalreport_QC
Saint-Côme and Saint-Donat
Since the beginning of the year, the median price of a single-family home in Saint-Côme and Saint-Donat increased 41.9% year-over-year to $369,000, while sales in this segment decreased 24.5%, reflecting the limited inventory of properties. For those looking for a property slopeside or within walking distance of the base of the mountain, the starting price is typically $450,000 for a single-family home and $275,000 for a condominium.
“Lanaudière is a lesser known recreational region that has a lot to offer all year round, especially for those who love nature,” said Guylaine Pelletier, real estate broker, Royal LePage Habitations. “Properties remain affordable, although demand driven by pandemic circumstances has put considerable upward pressure on prices.”
Royal LePage is forecasting that the median price of a single-family home in the Saint-Côme and Saint-Donat region will increase 7.0% in 2022.
Data chart – Royal LePage 2021 Winter Recreational Property Report (Province of Quebec): rlp.ca/table_2021winterrecreationalreport_QC
Mount Bromont, Sutton and Orford
Much like other regions, single-family homes in Estrie’s recreational markets have seen significant price appreciation. Since the beginning of the year, the median price of a single-family home in Bromont, Sutton and Orford increased 58.7%, 2.3% and 30.2% year-over-year to $607,000, $452,500 and $410,000, respectively. In terms of sales, single-family homes in Bromont, Sutton and Orford posted a decline of 36.7%, 25.8% and 10.0%, respectively during the same period. Meanwhile, the median price of a condominium rose 41.1% in Bromont and 15.2% in Orford, while sales decreased 33.9% and 32.2%, respectively. For those looking for a property slopeside or within walking distance of the base of the mountain, the starting price is typically between $400,000 and $450,000 for a single-family home, and between $140,000 and $250,000 for a condominium, across the regions surveyed.
“Real estate demand around Estrie’s popular ski mountains has been strong since the start of the year, with buyers coming in droves from Montreal’s south shore,” said Christian Longpré, co-owner and real estate broker, Royal LePage Au Sommet. “We anticipate a modest increase in supply between now and the spring, which could slow price appreciation in the region.”
Royal LePage is forecasting that the median price of single-family homes will increase by 6.0% in Bromont, 3.0% in Sutton and 5.0% in Orford.
Data chart – Royal LePage 2021 Winter Recreational Property Report (Province of Quebec): rlp.ca/table_2021winterrecreationalreport_QC
Stoneham and Lac-Beauport
(Stoneham-et-Tewkesbury, Lac Delage, St-Gabriel-de-Valcartier, Lac-Beauport)
Since the beginning of the year, the median price of a single-family home in the Stoneham and Lac-Beauport areas increased 17.1% year-over-year to $410,000, while sales decreased 19.7% during the same period. For those looking for a property slopeside or within walking distance of the base of the mountain, the starting price is typically $700,000 for a single-family home and $250,000 for a condominium.
“Properties in the region around the $400,000 mark are virtually non-existent as demand in the mid-range continues to be strong,” said Marc Bonenfant, real estate broker, Royal LePage Inter-Québec. “As a result, many properties are being sold at a significantly higher price than the valuations of financial institutions. The upcoming interest rate increases are expected to slow price appreciation in the second half of 2022, resulting in some much-needed supply.”
Bonenfant added that price appreciation in 2022 is expected to be driven by the high-end segment of the market, where room for growth remains.
Royal LePage is forecasting that the median price of a single-family home in the Stoneham and Lac-Beauport region will increase 3.5% in 2022.
Data chart – Royal LePage 2021 Winter Recreational Property Report (Province of Quebec): rlp.ca/table_2021winterrecreationalreport_QC
Mont Sainte-Anne
(Beaupré, Sainte-Anne-de-Beaupré, Saint-Ferréol-les-Neiges, Saint-Joachim)
Since the beginning of the year, the median price of a single-family home near Mont Sainte-Anne increased 8.9% year-over-year to $275,000, while sales increased 10% during the same period. The median price of a condominium in the region increased 13.6% year-over-year to $125,000, while sales rose 28.9% during the same period. For those looking for a property slopeside or within walking distance of the base of the mountain, the starting price is typically $275,000 for a single-family home and $100,000 for a condominium.
“The Mont Sainte-Anne region is one of the most affordable recreational real estate markets in the province,” said Michèle Fournier, vice president, Royal LePage Inter-Québec. “The area is home to a large group of secondary property owners, who enjoy its ideal location, halfway between Quebec City and Charlevoix. The recent opening of Club Med de Charlevoix is expected to draw a growing number of tourists and short-term rental demand to the region.”
Royal LePage is forecasting that the price of single-family homes in Mont Sainte-Anne will increase 4.0% in 2022.
Data chart – Royal LePage 2021 Winter Recreational Property Report (Province of Quebec): rlp.ca/table_2021winterrecreationalreport_QC
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[1] Data compiled by Royal LePage through Centris for the period of January 1, 2021, to October 31, 2021, in comparison with January 1, 2020, to October 31, 2020. The regions were selected by considering the most important residential real estate markets around the main ski hills in Quebec. Provincial results are derived from a weighted average of all surveyed regions, rounded to the nearest hundred.
