Quebec Real Estate Market Shifts Toward Balance, But Sellers Still Dominate
Event summary
- Quebec residential real estate sales fell 7% in Q3 2026 compared to 2025, totaling 20,935 transactions.
- Active property listings surged 20% year-over-year to 42,408, but inventory remains below historical averages.
- Median home prices rose 2% to $500,000, while condominium prices held steady at $400,000.
- Gatineau and parts of Montreal show early signs of market rebalancing, though most regions remain seller-friendly.
The big picture
Quebec’s real estate market is gradually shifting from a prolonged seller’s market toward greater balance, though persistent inventory shortages and affordability challenges continue to shape buyer behavior. The transition is uneven, with some regions like Gatineau and parts of Montreal showing early signs of equilibrium, while others remain under pressure. Economic uncertainty and near-stagnant population growth are further cooling activity, setting the stage for a more nuanced market dynamic in the coming quarters.
What we're watching
- Market Rebalancing
- How the pace of inventory growth will affect price stability in key markets like Quebec City and Trois-Rivières.
- Affordability Pressures
- Whether rising mortgage rates and stagnant wages will further cool buyer demand across the province.
- Regional Disparities
- The extent to which submarkets like Montreal’s downtown and southwest will experience oversupply while other areas remain constrained.
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