Quebec’s Residential Real Estate Market Continues to Transition, Yet Most Markets Remain Seller-Friendly

L’ÎLE-DES-SŒURS, Quebec, Oct. 14, 2026 (GLOBE NEWSWIRE) -- The Quebec Professional Association of Real Estate Brokers (QPAREB) has just released its residential real estate market statistics for the province of Quebec, based on the real estate brokers’ Centris provincial database. In the third quarter of 2026, Quebec real estate brokers posted 20,935 residential sales, a decrease of 7 per cent from the same period in 2025.

The residential real estate market continues the transition that began in early 2026: the supply of properties for sale continues to grow, while buyers have become less active in the market. Prior to this shift, the market faced an undersupply of single-family homes and condominiums in most urban centres, except for certain submarkets, such as the central neighbourhoods on the Island of Montreal.

Supply is rising and transactions are declining across the province. Sales in the third quarter of 2026 were comparable to the 10-year average. However, the inventory of available properties remains too low to ease persistent shortages in some markets.

“Despite the increase in supply and the fact that most areas of the province are in a period of transition, Quebec is still a long way from achieving a more balanced residential market. The upward trend in the number of available properties is beginning to ease shortages and provide prospective buyers with more choice. It is also helping to reduce overbidding that had become common in certain markets, particularly Quebec City,” notes Hélène Bégin, QPAREB Senior Economist.

The Gatineau CMA was the first to shift toward a more balanced market, with the condominium segment reaching equilibrium several quarters ago. Similar market conditions are also evident on the Island of Montreal for this type of property. However, Montreal’s downtown and southwest areas are already experiencing an oversupply, while most other submarkets remain under pressure due to limited inventory.
“Although competition has eased since last year in the single-family home market, sellers remain in a strong negotiating position in every CMA and in most of their geographic sectors. Conditions remain very seller-friendly in the Quebec City and Trois-Rivières metropolitan areas, as well as in the urban agglomerations of Rimouski, Saint-Hyacinthe, Rouyn-Noranda, Victoriaville, Joliette and Shawinigan,” adds Ms. Bégin.

Affordability is deteriorating

Economic and geopolitical uncertainty, combined with near-stagnant population growth after several years of rapid expansion, has cooled residential real estate activity across the province.

“Affordability challenges are also discouraging some households from buying a home or condominium in several markets, especially among first-time buyers. Given the increase in fixed mortgage rates in the spring and again in early fall, and that the Bank of Canada’s policy interest rate could rise by the end of 2026 or, at the latest, in early 2027, housing affordability in Quebec is likely to continue to deteriorate, as median home prices are expected to remain high,” points out Camille Laberge, Assistant Director of the QPAREB Market Analysis Department.

She explains, “Demand is easing in Quebec, but not enough to cause a widespread decline in prices, as supply is only gradually returning to normal in most markets after years of a pronounced shortage of properties for sale. More sellers are lowering their asking prices, a sign that the growing number of properties for sale is creating less competitive conditions. In this context, real estate brokers can help clients set an appropriate asking price, as highlighted in our recent publication, The Decoded Market.”

2026 Third Quarter Highlights

Sales

• Quebec’s residential market recorded a fourth consecutive quarterly decline in activity, with sales down 7 per cent from the same period in 2025.
• Despite this decrease, the 20,935 transactions completed during the quarter were in line with the 10-year average.
• A few markets bucked the provincial trend. Transactional activity increased in the Trois-Rivières (+12 per cent), Sherbrooke (+12 per cent) and Drummondville (+5 per cent) metropolitan areas. The urban agglomerations of Victoriaville, Saint-Hyacinthe and Granby also posted sales increases of more than 10 per cent.
  

Listings

• The number of residential properties on the market jumped 20 per cent compared with the third quarter of 2025, reaching 42,408 active listings. Growth was similar across the major property categories: 19 per cent for single-family homes and 20 per cent for condominiums and plexes.
• The gradual recovery in supply observed since the start of the year has continued across Quebec. Despite this increase, inventory levels remain slightly below historical averages in all regions of the province.
• The increase in active listings in the third quarter continued the trend that began in early 2026, as supply increased across the province.
• The number of available properties in the Saguenay, Gatineau, Drummondville and Trois-Rivières metropolitan areas jumped by more than 40 per cent over the past year.
• Among smaller urban agglomerations, Thetford Mines, Saint-Hyacinthe, Sorel-Tracy and Val-d’Or were among those with the strongest growth. In contrast, Sept-Îles was the only Quebec market where active listings declined (-7 per cent).
  

Market conditions

• The increase in supply combined with slower sales helped reduce pressure on residential markets throughout Quebec.
• Conditions nevertheless remain very seller-friendly in the Quebec City and Trois-Rivières metropolitan areas, as well as in the urban agglomerations of Rimouski, Saint-Hyacinthe, Rouyn-Noranda, Victoriaville, Joliette and Shawinigan.
• At the other end of the spectrum, the resort markets of the Laurentides, as well as the Montreal and Gatineau metropolitan areas, and the urban agglomerations of Sorel-Tracy and Salaberry-de-Valleyfield have the most balanced conditions in the province, although buyers do not yet have a consistent advantage.
  

Median Prices

• Residential prices continued to rise in many markets, but generally at a more moderate pace than in recent years
• Across Quebec, the median price of a single-family home reached $500,000, up 2 per cent from a year earlier. The condominium median price remained stable at $400,000, while that of plexes rose 8 per cent to $699,000.
• Among metropolitan areas, Drummondville (+11 per cent), Trois-Rivières (+8 per cent) and Sherbrooke (+7 per cent) posted the largest increases in the single-family home median price.
• By contrast, annual changes were more modest in Saguenay (+4 per cent), Montreal (+2 per cent) and Quebec City (+2 per cent), while Gatineau recorded a 3 per cent decline.
• Among urban agglomerations, the largest increases in the median price of single-family homes were observed in Shawinigan (+14 per cent), Rouyn-Noranda (+13 per cent), Granby (+8 per cent) and Saint-Hyacinthe (+8 per cent).
• In the condominium segment, the Quebec City CMA continued to stand out with 6 per cent growth in the median price. Gains were also observed in the Sherbrooke (+4 per cent) and Montreal (+2 per cent) CMAs, while Gatineau recorded a 5 per cent decline.

Average Days on Market

• Although selling times remain historically short, the quarter brought a slight change in some market segments. In particular, single-family homes took slightly longer to sell than during the same period a year earlier.
• Province-wide, a single-family home sold in an average of 45 days (+1 day), compared with 48 days for plexes (-5 days) and 58 days for condominiums (+9 days).

Regional Highlights

Montreal CMA: market conditions continue to ease

• The Montreal CMA recorded 9,265 residential sales during the quarter, down 12 per cent from the summer of 2025 and marking a fourth consecutive quarterly decline.
• Residential activity continued to slow in the third quarter of 2026. A total of 9,265 transactions were completed in the Montreal CMA, 12 per cent fewer than in the same period a year earlier. This was the fourth consecutive quarterly decline in sales.
• All property categories recorded fewer transactions: single-family homes (-7 per cent), condominiums (-16 per cent) and plexes (-16 per cent).
• Supply continued to grow across the metropolitan area. Residential properties listed on Centris reached 20,350 units, up 17 per cent year over year, with growth across all geographic sectors and property categories.
• Higher supply combined with lower sales further eased market conditions. In the single-family home segment, however, sellers retained an advantage across the CMA.
• The condominium market showed clearer signs of rebalancing. On the Island of Montreal, conditions now sit on the threshold between a balanced and a buyer’s market. Laval and Vaudreuil-Soulanges are also approaching balanced thresholds, while both the North Shore and South Shore continue to favour sellers.
• In this context, price growth remained moderate. The median price of single-family homes reached $645,500, up 2 per cent from the summer of 2025. The condominium median price also rose 2 per cent to $435,000, while that of plexes increased 3 per cent to $860,500.
• Selling times for single-family homes (40 days) and plexes (51 days) remained relatively stable. Condominiums took an average of 61 days to sell, 13 days longer than a year earlier, reflecting more balanced market conditions.

Quebec City CMA: more choice, but still not enough properties for sale

• In the 2026 third quarter, 2,161 residential sales were completed in the Quebec City CMA, virtually unchanged from the same period in 2025 (-1 per cent).
• By property category, only plex sales posted a notable decline (-9 per cent). Single-family and condominium activity remained comparable to a year earlier.
• After sharp supply reductions in 2024 and 2025, inventory continued to recover in the metropolitan area. During the summer, 2,204 properties were listed for sale on Centris, up 27 per cent from the third quarter of 2025.
• Despite this increase, inventory remains exceptionally low, with the number of available properties 54 per cent below its 10-year average.
• Rising supply combined with stable sales slightly reduced competition among buyers in the Quebec City CMA. Sellers still hold a clear negotiating advantage, but conditions are less tight than a year ago.
• Prices kept rising amid persistent scarcity. The median price reached $463,500 for single-family homes (+2 per cent), $334,900 for condominiums (+6 per cent) and $600,000 for plexes (+17 per cent).
• Overbidding situations have become significantly less frequent over the past year. One in five transactions received multiple offers during the quarter, half the proportion recorded a year earlier.
• Properties continued to sell quickly. During the summer, a single-family home sold in an average of 29 days (+5 days), a condominium in 34 days (-7 days) and a plex in 30 days (-8 days).

Gatineau CMA: easing market conditions dampens prices

• In the third quarter of 2026, 1,044 residential transactions were completed in the Gatineau CMA, down 12 per cent from the same quarter a year earlier. This was the fourth consecutive quarterly decline in activity.
• Sales declined in all property categories: single-family homes (-12 per cent), condominiums (-16 per cent) and plexes (-14 per cent).
• Supply increased for a fifth consecutive quarter. A total of 2,256 properties were listed on Centris during the third quarter, up 42 per cent from a year earlier.
• Falling sales and rising listings continued to ease market conditions. Sellers retained the advantage in the single-family home segment, though less decisively than in recent years. Condominium market conditions in Gatineau are now balanced.
• Prices reflected the softer market. The median price of single-family homes fell 3 per cent from the previous year and the condominium median price declined 5 per cent. Plexes were the only category to post a price increase, at 2 per cent.
• The return to more balanced market conditions has also resulted in longer selling times for certain categories. Single-family homes sold in an average of 34 days (+7 days), plexes in 38 days (+2 days) and condominiums in 36 days (-3 days).

Sherbrooke CMA: strong demand offsets the growing supply

• The Sherbrooke CMA recorded 569 residential transactions in the third quarter of 2026, up 12 per cent from the same period a year earlier. The increase followed a second-quarter decline in sales.
• Growth was driven primarily by the single-family home market, where sales jumped 23 per cent. By contrast, sales of condominiums and plexes fell by 6 per cent and 25 per cent, respectively.
• Supply also continued to trend upwards. There were 825 properties listed on the Centris system, up 17 per cent from a year earlier. Listings increased by between 12 per cent and 19 per cent across the three main property categories.
• Even with this increase, the number of properties for sale remains below the area’s historical average. New listings are being absorbed quickly, particularly in the single-family home segment.
• Market conditions therefore continued to favour sellers. Seasonally adjusted indicators show little recent change in the rate at which the inventory of single-family homes is being absorbed, suggesting that strong transactional activity is largely keeping pace with the rise in listings.
• Market conditions were reflected in rising prices. The median price of a single-family home reached $490,750, up 7 per cent from the previous year. The median condominium price rose 4 per cent to $327,000, while that of plexes edged down 1 per cent to $544,500.
• Single-family homes continued to sell quickly, averaging 33 days on the market (-6 days). The other property categories took longer to sell: 54 days for plexes (+ 5 days), and 77 days for condominiums (+17 days).
  

Saguenay CMA: market easing remains limited

• Saguenay’s residential market was slightly less active than a year earlier. A total of 371 transactions were completed in the third quarter of 2026, down 1 per cent from the same period in 2025 and ending five consecutive quarters of sales growth.
• Single-family home sales edged down 2 per cent, while plex sales rose 21 per cent. The condominium segment recorded fewer transactions, though volumes remained limited.
• Supply continued the recovery that began early in the year, this time at a faster pace. Centris listings reached 498 units, up 41 per cent from the summer of 2025, and one of the largest increases among the province’s CMAs.
• The sharp rise in supply is helping the market gradually rebalance. Conditions nevertheless remain highly favourable to sellers, as available inventory is still low, and demand remains strong relative to historical averages.
• Despite more properties entering the market, prices continued to rise. The median price of single-family homes reached $365,500, up 4 per cent from the previous year.
• Properties also continued to sell quickly. A single-family home sold in an average of 34 days (-4 days).

Trois-Rivières CMA: market strength remains steady

• The Trois-Rivières CMA maintained its momentum in the 2026 third quarter. A total of 372 residential transactions were completed, up 12 per cent from the same period a year earlier.
• Supply rose sharply during the quarter. There were 447 properties listed on the Centris system, a 54 per cent year-over-year increase, and the largest among Quebec’s metropolitan areas.
• Inventories increased across all property categories. Condominium listings more than doubled, while those of single-family homes rose 53 per cent.
• Despite the increase in properties for sale, market conditions remain strongly favourable to sellers. Robust demand continues to absorb a significant share of new listings.
• Against this backdrop, single-family home prices continued to rise faster than the provincial average. The median price reached $395,000, up 8 per cent from the third quarter of 2025.
• Single-family homes continued to sell quickly, averaging 32 days on the market, six days longer than a year earlier.

Drummondville CMA: supply constraints are gradually easing

• The Drummondville CMA recorded 220 residential sales in the third quarter of 2026, up 5 per cent from the same period in 2025. This marked the first increase following three consecutive quarterly declines.
• Activity was driven mainly by the single-family home market, with sales rising 5 per cent. Transaction volumes in the other property categories remained more limited.
• Supply continued its upward trend for the third consecutive quarter, and at a faster pace. There were 389 properties listed on the Centris system, up 50 per cent from a year earlier.
• Despite this sharp rise in the number of properties for sale, market conditions continued to favour sellers.
• The median price of a single-family home reached $445,000, up 11 per cent from the third quarter of 2025, and one of the strongest increases among Quebec’s metropolitan areas.
• Single-family homes spent an average of 46 days on the market, three days more than last year for the same period, a relatively short period of time even with the increased supply.

Third Quarter 2026 Data

Please consult the Barometer—Residential Market to view Q3 2026 data.

Additional information:

Detailed and cumulative monthly statistics for the province and regions.

If you would like additional information from the Market Analysis Department, such as specific data or regional details on the real estate market, please write to us.

About the Quebec Professional Association of Real Estate Brokers

The Quebec Professional Association of Real Estate Brokers (QPAREB) is a non-profit association that brings together more than 15,000 real estate brokers and agencies. It is responsible for promoting and defending their interests while taking into account the issues facing the profession and the various professional and regional realities of its members. The QPAREB is also a major player in many real estate dossiers, including the implementation of measures that promote homeownership. The Association reports on Quebec’s residential real estate market statistics, provides training, tools and services relating to real estate, and facilitates the collection, dissemination and exchange of information. The QPAREB has its head office in Quebec City, administrative offices in Montreal and regional office in Saguenay. It has two subsidiaries: Société Centris inc. and the Collège de l’immobilier du Québec. Follow its activities at qpareb.ca or via its social media pages: Facebook, LinkedIn and Instagram.

For more information:
Ariane Boulé
Morin Relations Publiques
media@qpareb.ca

Image bank (credit QPAREB) available free of charge.