Sales of existing homes gained 7% in Quebec in the third quarter of 2017.

Led by a 13% jump for condo sales, there were 17,941 sales through the Centris database, the Quebec Federation of Real Estate Boards reports. Single-family homes and plexes increased sales by 5% and 4% respectively.

"Québec's resale market is doing exceptionally well, as this was the 13th consecutive quarterly increase in sales," said Paul Cardinal, Manager of the QFREB's Market Analysis Department. "Furthermore, this was the best third quarter sales result in eight years.”

The median price of a single-family home in Quebec was up 5% in the third quarter from a year earlier, to $239,900.

Meanwhile, inventory tightened by 8% year-over-year to an average of 68,651 active listings.

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