Steady growth persists in a varied Quebec property market

Spring is traditionally the busiest time of year for the housing market, but in 2026, the mood in Quebec has shifted. Gone are the days of impulse buying and the frenzied pace of recent years: the market is entering the era of the discerning buyer.

According to the latest Royal LePage^® Home Price Survey and Market Forecast, the Quebec market is starting the year in impressive form, particularly when compared to the rest of Canada. Whilst prices are falling in Toronto and Vancouver, Quebec is holding its own. However, this strength is not unfolding evenly across the province. Today, the market is characterised by a duality: certain regions and certain types of homes are far more sought-after than others.

“The first quarter of 2026 highlights a significant transition toward a more deliberate market,” said Dominic St-Pierre, executive vice president of business development, Royal LePage. “As we observe a marked return toward urban centres and luxury properties, buyers are demonstrating a new level of caution. This duality, where certain segments like single-family homes show sustained vigour while others, such as urban condominiums, face an inventory surplus, defines the trajectory of this early part of the year. Quebec continues to distinguish itself through its solidity, driven by demand that now prioritizes quality and turnkey products.”

The aggregate¹ price of a property in the province of Quebec increased 4.4% in the first quarter of 2026 to reach $473,900 compared to the same period the previous year. On a quarterly basis, the aggregate price in the province recorded an increase of 2.7%. When broken out by housing type, the median price of a single-family detached home in Quebec climbed 5.9% year over year to $517,400, while that of a standard condominium recorded a more moderate increase of 2.6% to reach $403,000 during the same period.

The Quebec market is seeing the emergence of a dominant figure: the discerning buyer. In contrast to the frenzy of past years, purchasers are now rigorously analyzing maintenance costs and necessary renovations before committing.

“We are witnessing an end to impulsive buying,” explains St-Pierre. “The rising cost of living and sensitivity to environmental risks have shifted buyer priorities. A ‘turnkey’ property now commands a price premium, while those requiring major work are having more difficulty finding buyers. This selectivity is particularly visible in markets like Quebec City and Gatineau, where financial discipline is now replacing urgency.”

Nationally, the aggregate price of a property decreased 2.0% year over year in the first quarter of 2026, settling at $812,900. In the country’s major markets, the aggregate price in Toronto and Vancouver recorded decreases of 4.7% and 4.5% respectively, illustrating, once again, the divergent trends compared to the growth observed in several regions of Quebec.

Prices are expected to rise this spring, driven by a shortage of inventory in the single-family home market

As we enter the spring 2026 market, Royal LePage anticipates that the lack of inventory in the single-family segment will continue to support price increases across the province. Quebec’s economic stability, protected by pillar sectors such as the public service in Quebec City and Gatineau, or industrial diversity in Montreal, will ensure the stability of the real estate market.

“We foresee an active but nuanced spring,” concludes St-Pierre. “Sellers of quality single-family properties will remain in a position of strength, while condo buyers will benefit from a less competitive market in sectors where inventory is more abundant. This normalization toward a more balanced market is a sign of health for the Quebec real estate ecosystem.”

First quarter highlights:

• In the first quarter of 2026, the aggregate home price in the Greater Montreal Area increased 3.3% year over year to $645,800, driven by a marked return of the luxury segment and a duality in the housing stock between single-family homes and downtown condominiums.
• The Quebec City region recorded the most robust performance in the province (and nationally) with an annual aggregate price increase of 10.7% to reach $475,300, confirming the capital’s appeal despite a transition toward a more measured and disciplined market.
• The Sherbrooke, Trois-Rivières, and Gatineau markets posted varied trajectories, with 7.0% year over year growth recorded in Sherbrooke supported by interregional migration, while the return of negotiations and buyer caution tempered activity in Gatineau and Trois-Rivières.

¹Royal LePage’s aggregate prices are calculated using a weighted average of the median values of all housing types collected. Provincial prices have been updated to include all regions within the province and therefore may vary from previous reports. Data is provided by RPS Real Property Solutions and includes both resale and new build.