Quebec City Real Estate Market Tightens as Condo Sales Surge
Event summary
- February 2026 saw 1,051 residential transactions in Quebec City CMA, up 1% YoY, driven by a 10% surge in condo sales.
- Active listings hit a historic low for February, with single-family homes down 6% and plexes down 4%, while condo listings rose 11%.
- Median prices climbed 13% for single-family homes and 10% for condos and plexes, with 45% of transactions involving overbidding.
- Days on market dropped sharply for plexes (-36 days) and single-family homes (-14 days), while condos remained stable at 31 days.
The big picture
Quebec City's real estate market is experiencing intense competition driven by chronic supply shortages, with condos emerging as the sole growth category. The persistent pressure on inventory is fueling rapid price appreciation, exacerbating affordability challenges in a market where demand remains robust. This dynamic reflects broader trends in urban real estate markets facing demographic shifts and regulatory constraints on new construction.
What we're watching
- Supply Constraints
- Whether the tentative signs of listing adjustment can alleviate the historic low inventory levels.
- Price Pressures
- How sustained demand and overbidding will affect affordability, particularly for first-time buyers.
- Market Segmentation
- The pace at which condo sales growth outstrips other property categories, reshaping the market composition.