Quebec City Real Estate Market Sees May Sales Surge Amid Supply Rebound
Event summary
- Quebec City CMA recorded 964 residential property sales in May 2026, up 5% year-over-year.
- Active listings increased by 20% in May, marking the third consecutive month of supply rebound.
- Median prices rose across all categories: plexes (+13%), condominiums (+6%), and single-family homes (+4%).
- Properties sold in record-low timeframes, with condos and single-family homes averaging 20 days on market.
- Quebec City's unemployment rate remained low at 3.3% in April, supporting market resilience.
The big picture
The Quebec City real estate market demonstrated exceptional strength in May 2026, with record sales and a gradual supply rebound. This resilience is supported by a robust local labor market, contrasting with broader provincial economic challenges. The market's tight conditions and rapid sales cycles underscore persistent seller advantages, though inventory levels remain a critical constraint. Strategic watchpoints include whether supply can keep up with demand and how external economic pressures may influence this localized market dynamic.
What we're watching
- Supply-Demand Imbalance
- Whether the current 20% monthly increase in listings can sufficiently ease market pressure, given inventory remains half the historical average.
- Price Sustainability
- How sustained price growth will affect affordability, particularly with median prices reaching new highs across all property categories.
- Economic Resilience
- The pace at which external economic factors, such as trade tensions and Middle East crises, may impact Quebec City's real estate market despite current labor market strength.