Quebec Housing Market Outlook 2025
Table of contents
Quebec Market Report Summary
- The average selling price of a home in Quebec increased by 9.8% year-over-year to $531,000 in May 2025.
- The average selling price of a single-family home in Quebec increased by 10.2% year-over-year to $596,600 in May 2025.
- The average selling price of a townhouse/multiplex in Quebec increased by 5.6% year-over-year to $569,400 in May 2025.
- The average selling price of a condo in Quebec increased by 8.0% year-over-year to $414,600 in May 2025.
- The average rent in Quebec decreased by 2.0% year-over-year to $1,964 for May 2025.
- July 8, 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 $531,000 for the month of May 2025, that’s increased by 1.0% compared to the previous month. On a year-over-year basis, Quebec home prices have increased 9.8% over the last 12 months.
Single-family Home Prices
The average selling price of a single-family home in Quebec was $596,600 for the month of May 2025, that’s increased by 0.4% compared to the previous month. On a year-over-year basis, single-family home prices in Quebec have increased by 10.2% over the last 12 months.
Townhouse and Multiplex Prices
The average selling price of a townhouse in Quebec was $569,400 for the month of May 2025, that’s decreased by 0.7% compared to the previous month. On a year-over-year basis, the price of a townhouse in Quebec has increased by 5.6% over the last 12 months.
Condo Prices
The average selling price of a condo in Quebec was $414,600 for the month of May 2025, that’s increased by 2.4% compared to the previous month. On a year-over-year basis, the price of a condo in Quebec has increased 8.0% 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 May 2025 was $531,000, and it increased of 9.8% compared to a year ago.
QPAREB also reported a sales-to-new-listings ratio (SNLR) of 66%, indicating a sellers market in Quebec for May 2025.
Québec City Defies Trend as Province Sees Steady Growth in May
According to the Quebec Professional Association of Real Estate Brokers (QPAREB) and the Government of Québec, Quebec’s housing market remained resilient in May 2025. While the province overall posted stable year-over-year sales growth, Quebec City stood out with record-breaking transaction levels and some of the fastest home sales in the country.
Province Experiences Balanced Growth with Affordability Starting to Strain
Across the province, 9,926 sales were recorded in May, representing a 10% increase compared to May 2024. While active listings held flat at 38,000, new listings rose 10%, a sign that sellers are returning to the market. Prices continue to climb steadily.
● Median price for single-family homes reached $500,000 (+10%)
● Condo prices rose to $399,900 (+5%)
● Plexes posted the most substantial gains at $665,000 (+11%)
Homes are also selling faster, with average days on market down 13 days year-over-year for single-family homes and 27 days for plexes. Year-to-date, sales across Quebec are up 12%, and sales volume has grown 21%, outpacing historical trends despite macroeconomic headwinds.
Québec City Sees Record Sales and Rapid Turnover Define the Market
The Quebec City CMA recorded 926 residential transactions in May, representing a 6% year-over-year increase and marking the 18th consecutive month of sales growth. This is a new high for May, even accounting for post-pandemic activity. Median prices surged across all major segments:
● Single-family home prices rose 20% to $453,379
● Condominium prices jumped 18% to $311,500
● Plex (2–5 units) prices increased 11% to $505,500
The market remains tight, with inventory down sharply and properties selling at record speed. On average, single-family homes sold in just 27 days, 22 days faster than a year ago. Plexes and condos followed closely at 33 and 38 days, respectively. Notably, one in four properties is now selling for at least 10% over asking.
What’s Driving Québec’s Real Estate Market Resilience?
Experts attribute Quebec City’s exceptional performance to the region’s relative insulation from international trade shocks and a more balanced economy. Charles Brant, Director of Market Analysis at QPAREB, notes that “demand so far appears relentless despite the current economic uncertainty” and highlights how tight inventory is giving sellers considerable negotiating power.
In contrast to other major Canadian cities, US tariffs have had a less significant impact on Quebec City, and affordability remains relatively strong. However, construction is ramping up to meet demand, with housing starts jumping 10,000 month-over-month to reach 61,000 units province-wide, according to CMHC.
Impact on Canadian Mortgages and BoC Policy
Quebec’s housing performance, especially in Quebec City, reinforces the province’s status as one of Canada’s most resilient markets. For the Bank of Canada, stabilizing home prices and substantial sales volumes complicate the path to rate cuts, especially if housing contributes to inflationary pressures. For Quebec homebuyers, urgency is building, as tight supply and faster selling times may continue to push prices higher in the months ahead. Renewers could benefit from increased home equity, while refinancers should act before further gains strain mortgage affordability, as bond yields, currently rangebound, could pressure fixed rates.
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Month-over-Month Expectations for Quebec’s Housing Market
Transactions – Number of Sales
The number of sales in Quebec was 9,926 during May 2025, that’s decreased by 2.5% compared to the previous month. On a year-over-year basis, sales in Quebec have increased by 9.7% over the last 12 months.
New Listings
The number of new listings in Quebec was 14,994 during May 2025, that’s increased by 2.4% compared to the previous month. On a year-over-year basis, new listings in Quebec have increased by 10.0% over the last 12 months.
Real Estate Market
The sales to new listings ratio (SNLR) in Quebec was 66% during May 2025, indicating a sellers market. On a monthly basis, that’s increased by 4.8% compared to the previous month. Quebec’s yearly sales to new listings ratio has decreased by 0.3% 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 $1,964 for the month of May 2025, which decreased by 2.0% on a year-over-year basis.
The average rent for a bachelor apartment in Quebec was $1,406 for the month of May 2025, which decreased by 5.0% on a year-over-year basis.
The average rent for a 1-bedroom apartment in Quebec was $1,703 for the month of May 2025, which decressed by 1.0% on a year-over-year basis.
The average rent for a 2-bedroom apartment in Quebec was $2,154 for the month of May 2025, which decreased by 2.0% on a year-over-year basis.
The average rent for a 3-bedroom apartment in Quebec was $1,703 for the month of May 2025, which decreased by 2.0% 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 $521.15 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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