Quebec Housing Market Outlook 2025
Table of contents
Quebec Market Report Summary
- The average selling price of a home in Quebec increased by 8.1% year-over-year to $532,200 in September 2025.
- The average selling price of a single-family home in Quebec increased by 8.8% year-over-year to $601,900 in September 2025.
- The average selling price of a townhouse/multiplex in Quebec increased by 6.3% year-over-year to $577,400 in September 2025.
- The average selling price of a condo in Quebec increased by 5.5% year-over-year to $407,700 in September 2025.
- The average rent in Quebec decreased by 0.5% year-over-year to $1,957 for September 2025.
- October 22, 2025: Today’s lowest mortgage rate in Québec is
for a 5-year fixed.
Composite Home Prices
The average selling price of a home in Quebec was $532,200 for the month of September 2025, that’s increased by 1.2% compared to the previous month. On a year-over-year basis, Quebec home prices have increased 8.1% over the last 12 months.
Single-family Home Prices
The average selling price of a single-family home in Quebec was $601,900 for the month of September 2025, that’s increased by 1.2% compared to the previous month. On a year-over-year basis, single-family home prices in Quebec have increased by 8.8% over the last 12 months.
Townhouse and Multiplex Prices
The average selling price of a townhouse in Quebec was $577,400 for the month of September 2025, that’s increased by 3% compared to the previous month. On a year-over-year basis, the price of a townhouse in Quebec has increased by 6.3% over the last 12 months.
Condo Prices
The average selling price of a condo in Quebec was $407,700 for the month of September 2025, that’s increased by 0.8% compared to the previous month. On a year-over-year basis, the price of a condo in Quebec has increased 5.5% over the last 12 months.
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Quebec Housing Market Summary
Data from the Quebec Professional Association of Real Estate Brokers (QPAREB) indicates that the average price of resale residential homes sold across Quebec in September 2025 was $532,200, and it increased of 8.1% compared to a year ago.
QPAREB also reported a sales-to-new-listings ratio (SNLR) of 55%, indicating a Balanced in Quebec for September 2025.
Tariffs Weakened Québec’s Economy, but the Real Estate Market Remains Resilient
The Québec Professional Association of Real Estate Brokers (QPAREB) reports that the province’s economy is under significant strain following new US tariffs introduced earlier this year. “Rising unemployment, declining economic activity and falling exports confirm that the province is feeling the impact of tariffs imposed by our main trading partner,” said QPAREB Senior Economist Hélène Bégin.
Tariffs Slowed Québec’s Economic Growth and Exports
Québec’s real GDP fell by 0.5% in May following a 0.2% decline in April. QPAREB projects that GDP will contract at an annualized rate of 2.5% in Q2 2025. Exports, particularly aluminum —Québec’s top commodity shipped to the US —plunged by 13.4% between Q1 and Q2, with further weakness expected in Q3. Employment losses have also begun to surface, with the provincial unemployment rate rising from 5.5% early in 2025 to 6.0% by August.
Regions most dependent on manufacturing and exports, such as Saguenay–Lac-Saint-Jean and Côte-Nord, are vulnerable to the 50% US tariffs on steel and aluminum. These sectors are expected to feel the deepest effects if economic conditions continue to deteriorate.
Residential Real Estate Activity Stayed Strong in the First Half of 2025
Despite mounting economic challenges, Québec’s residential property market has so far remained active. Sales increased by 12% in the first half of 2025, while inventory levels remain limited. The province-wide median price for single-family homes reached $493,000 from January to June, a 10% increase compared to the same period in 2024.
All major census metropolitan areas (CMAs) recorded growth in both home sales and prices. Montréal’s median home price rose 8% to $616,000, Québec City surged 18% to $444,000, and Saguenay saw the largest gain, up 19% to $339,000.
Québec Real Estate by Region
- Drummondville: 24% increase in sales; median home price $390,000 (up 11%)
- Gatineau: 12% increase in sales; median home price $501,000 (up 7%)
- Montréal: 13% increase in sales; median home price $616,000 (up 8%)
- Québec City: 6% increase in sales; median home price $444,000 (up 18%)
- Saguenay: 6% increase in sales; median home price $339,000 (up 19%)
- Sherbrooke: 15% increase in sales; median home price $460,000 (up 12%)
- Trois-Rivières: 4% increase in sales; median home price $380,000 (up 13%)
Market Sentiment Shows Early Signs of Cooling
While home prices are still increasing, QPAREB expects growth to moderate through late 2025. Rising unemployment and slower economic activity are likely to limit buyer demand, particularly among first-time buyers and recent immigrants. “If the climate of uncertainty persists and current tariffs remain in place, the economy and labour market will continue to weaken. Despite relatively low mortgage rates, the property resale market could shift course in certain regions,” said Bégin.
Comparison with Other Major Canadian Markets
Unlike Ontario and British Columbia, Québec’s housing market has historically been less sensitive to national or international shocks. Montréal, Québec City, and Gatineau continue to show steady demand and limited inventory, in contrast to the turbulence seen in Toronto and Vancouver. Investor participation remains much lower in Québec, which has helped reduce volatility.
Provincial Market Summary
- Province-wide home sales increased by 12% YoY to 52,705 transactions
- Active listings decreased by 3% YoY to 36,543
- Median price for single-family homes reached $493,000 (+10% YoY)
- Average days on market remained low, between 40 and 60 days across most regions
Outlook for Québec Real Estate Into Late 2025
Economic headwinds and slower export activity are expected to weigh on Québec’s real estate market by year-end. Demand may begin to soften, and price growth is likely to flatten or slightly decline in select markets. However, strong household consumption, a shortage of available properties, and resilient employment in key service sectors should help prevent sharp corrections.
Overall, the Bank of Canada’s measured policy stance should maintain mortgage affordability through 2026, even as Québec’s export-driven economy adjusts to the lingering impact of US tariffs.
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Month-over-Month Expectations for Quebec’s Housing Market
Transactions – Number of Sales
The number of sales in Quebec was 7,645 during September 2025, that’s increased by 7.5% compared to the previous month. On a year-over-year basis, sales in Quebec have increased by 9.8% over the last 12 months.
New Listings
The number of new listings in Quebec was 13,956 during September 2025, that’s increased by 23.5% compared to the previous month. On a year-over-year basis, new listings in Quebec have increased by 12.8% over the last 12 months.
Real Estate Market
The sales-to-new-listings ratio (SNLR) in Quebec was 55% during September 2025, indicating a Balanced. On a monthly basis, that’s decreased by 12.9% compared to the previous month. Quebec’s yearly sales to new listings ratio has decreased by 2.6% over the last 12 months.
The sales-to-new-listings ratio (SNLR) measures the number of home sales compared to new listings. An SNLR under 40% suggests a buyer’s market in which buyers have the upper hand and more negotiating power. An SNLR between 40% and 60% is a balanced market, while an SNLR of over 60% is considered a seller’s market.
Annual Changes to Quebec’s Regional Composite Home Prices
Annual Changes to Quebec’s Composite Home Prices
Quebec Market Rents Summary
The average rent in Quebec was $1,957 for the month of September 2025, which decreased by 0.5% on a year-over-year basis.
The average rent for a bachelor apartment in Quebec was $1,479 for the month of September 2025, which increased by 3.9% on a year-over-year basis.
The average rent for a 1-bedroom apartment in Quebec was $1,692 for the month of September 2025, which increased by 0.4% on a year-over-year basis.
The average rent for a 2-bedroom apartment in Quebec was $2,151 for the month of September 2025, which decreased by 1% on a year-over-year basis.
The average rent for a 3-bedroom apartment in Quebec was $1,692 for the month of September 2025, which decreased by 1% on a year-over-year basis.
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How Does Renting Compare with Homeownership in Quebec?
Each $100,000 in mortgage balance costs an average of $520.07 per month on nesto’s lowest fixed 5-year rate at
Rental Price Changes by City
Rental Price Changes by Province
Rental Price Growth by Housing Type
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Frequently Asked Questions (FAQ) on Québec Housing Market Outlook for 2025
Will housing prices in Quebec rise or fall in 2025?
Housing prices in Quebec are expected to remain stable, with modest increases in markets like Montréal, Québec City and Gatineau. Affordable pricing compared to Ontario and low supply will maintain demand.
Is the Quebec housing market in a bubble?
Experts do not believe Quebec is in a housing bubble. While Montreal has seen price growth, the market remains balanced due to rising supply and moderate demand.
How affordable will Quebec homes be in 2025?
Quebec housing remains relatively affordable compared to other provinces. Smaller markets like Trois Rivieres and other regional areas offer more entry-level opportunities for homebuyers.
Will mortgage rates in Quebec decline in 2025?
Yes, mortgage rates in Quebec are expected to ease, improving affordability. Buyers should secure pre-approvals to lock in lower rates.
What factors will drive Quebec’s housing market in 2025?
Key drivers include strong regional demand, economic growth, and continued interest in suburban and regional housing.
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