Quebec's residential real estate market is holding up well despite the climate of uncertainty, but certain regions will need to be monitored until the end of 2025

ÎLE-DES-SŒURS, Quebec, July 18, 2025 (GLOBE NEWSWIRE) -- The Quebec Professional Association of Real Estate Brokers (QPAREB) has just released the latest residential real estate market statistics for the province of Quebec, based on the real estate brokers’ Centris provincial database.

In the second quarter of 2025, a total of 28,969 properties were sold (single-family homes, condominiums, and plexes of 2 to 5 units). This is an 11 per cent increase over the same period last year. The strength of the market was shown by the number of transactions above the five-year second-quarter average. Unsurprisingly, sales remain well below the unprecedented levels seen at the start of the pandemic. Despite the current uncertainty, the number of transactions in June was 2.3 per cent higher than in May (based on seasonally adjusted data, which allows for comparisons across different months). The strong sales in June were similar to those observed in early 2025 before the climate of uncertainty with the United States intensified.

“Quebec’s residential real estate market appears to be holding up well overall, despite an environment of economic volatility,” notes Charles Brant, QPAREB Market Analysis Director. “In Ontario and British Columbia, sales have slowed, and the pool of properties for sale has surged over the same period. This has led to a drop in property prices, particularly in Toronto and Vancouver. Despite this shift, these two markets remain the most unaffordable in the country.”

“Affordability remains a significant issue in Quebec. However, since prices are lower than in many other provinces, the residential real estate market is less vulnerable,” explains Hélène Bégin, QPAREB Senior Economist (Quebec economy and real estate market). “When the economic situation deteriorates or if mortgage interest rates rise, the resale market tends to hold up for a while before feeling the impact. Moreover, the negative consequences are usually less severe in Quebec than elsewhere in the country.”

Nevertheless, due to their industrial profile, some regional economies are more exposed to the effects of U.S. tariffs. The regions of Mauricie, Centre-du-Québec, and Saguenay–Lac-Saint-Jean have seen their unemployment rates rise more quickly than the provincial average since the spring. However, this fact has not yet been reflected in the residential real estate markets in these three regions. In the Drummondville, Trois-Rivières, and Saguenay CMAs, sales remain strong, the supply of properties for sale is shrinking, and prices continue to rise. This very favourable trend also continued in the other CMAs during the second quarter. It is likely a temporary reprieve before the market begins to slow as a result of the ongoing deterioration in the labour market.

Rising prices

“Prices continue to rise rapidly in all property categories across the province. The median sale price for single-family homes reached a record high of $500,000 in the second quarter, compared to $399,900 for condominiums and $675,000 for plexes of 2 to 5 units. In other words, half of all single-family homes in the province sold for over $500,000 in the second quarter—an 11 per cent increase in the median price compared to the same period a year ago. This situation can be explained by the limited pool of properties for sale, which is leading to numerous instances of market overheating,” points out Charles Brant.

Furthermore, the number of days between a property being put on the market and being sold fell once more in the second quarter. Those looking to buy a single-family home continue to face significant pressure, although it is rising as well in the plex (2 to 5 units) and certain condominium markets. The results vary not only according to the type of property sought but also differ by neighbourhood in major urban centres and by town. While the market remains very tight in some locations, overbidding is primarily present in the Quebec City CMA, where almost half of properties are sold following an overbidding process.

On the subject of overbidding

Two conditions must be met before the QPAREB talks about overbidding:

The transaction is completed after several promises to purchase for the same property have been submitted within a very short time period.
The final price must be at least 5 per cent higher than the listing price when the property is put on the market.

Simply selling a property higher than the listing price does not qualify as overbidding, as negotiations sometimes result in additional inclusions such as major appliances, spa, or winter carport that justify a higher price.

Quarterly Highlights for the Province

Sales

Sales, all property categories combined, jumped 11 per cent between the second quarter of 2024 and that of 2025. Single-family homes posted the largest increase with 18,946 transactions, a gain of 12 per cent. Condominiums followed, rising by 11 per cent to reach a total of 7,312 sales, while plexes grew by 10 per cent over the year with 2,628 transactions.
Among census metropolitan areas (CMAs), Sherbrooke stood out with a 27 per cent surge in sales, a significantly faster pace than the CMAs ranked second and third: Drummondville (+17 per cent) and Saguenay (+16 per cent). Activity also intensified in the CMAs of Montreal, Gatineau, and Quebec City, though at a more moderate pace, with respective increases of 12 per cent, 10 per cent, and 9 per cent. Sales in the Trois-Rivières CMA were comparable to the previous year.
Transactional activity in urban centres was particularly strong in six localities, as shown by the sharp rise in sales in: Charlevoix (+34 per cent), Cowansville (+29 per cent), and Saint-Hyacinthe (+28 per cent) Other notable increases were recorded in Thetford Mines (+23 per cent), Granby (+20 per cent), and Salaberry-de-Valleyfield (+20 per cent). Several other markets also performed well, including Shawinigan (+19 per cent), Rimouski (+18 per cent), Saint-Georges (+16 per cent), and Rouyn-Noranda (+14 per cent). More modest gains were seen in Mont-Tremblant (+12 per cent), Sainte-Adèle (+9 per cent), and Saint-Sauveur (+7 per cent).
Prices, however, declined in eight localities, most notably in Sept-Îles (-32 per cent), Lachute (-12 per cent), and Val-d’Or (-10 per cent).

Active Listings

The inventory of available properties throughout Quebec in the second quarter of 2025 declined compared to the same period in 2024. The 2 per cent drop brought the number of active listings down to 36,902 properties. Furthermore, the inventory of properties for sale deviated even further from the 25-year historical average for a second quarter.

Median Prices

In the second quarter of 2025, the median price for single-family homes across Quebec reached the psychological threshold of $500,000, marking a solid 11 per cent increase compared to the same period last year.
For condominiums, the median price reached $400,000 ($399,900), up 6 per cent over the same quarter in 2024.
Small income properties (plexes with 2 to 5 units) saw an even sharper increase, with the median price hitting $675,000, a 12 per cent gain from the second quarter of 2024.
Against this backdrop, median price growth is accelerating, effectively neutralizing the positive impact of relatively low mortgage interest rates on homeownership.

Market Conditions

The number of months required to clear the entire inventory of residential properties for sale in the second quarter of 2025 continued to favour sellers across the province. There was a further decline compared to the same period last year. As a result, the number of months required to sell the inventory, all categories combined, fell to 4.4 months. For second quarters between 2000 and 2025, it took an average of 8 months to clear the inventory.

Days on the market

In Quebec, the number of days required to complete a purchase dropped in all three market segments. The time needed to sell dropped by 11 days for single-family homes and condominiums, and by 21 days for plexes (2 to 5 units) between the second quarter of 2025 and the same period last year. The time between listing and sale was shorter than last year for single-family homes (43 days), condominiums (42 days), and plexes (52 days).

Quarterly Highlights for the Regions

Montreal CMA

Residential sales reached 14,490 transactions in the second quarter of 2025, up 12 per cent compared to the same period last year. Transactional activity was 13 per cent higher than the second-quarter historical average.
Active listings in Greater Montreal edged up by 1 per cent compared to the second quarter of 2024, driven by a 7 per cent rise in condominium listings. However, the pool of single-family homes for sale (-1 per cent) and small income properties (-13 per cent) both shrank this past spring. The number of months required to sell the inventory (all categories combined) edged down to 4.4 months.
Median price growth across the different property categories was similar between the second quarters of 2024 and 2025. The median price for single-family homes rose by 9 per cent to reach $625,000. For condominiums, it increased by 5 per cent to $425,000, while for plexes, the median price grew by 8 per cent to $829,000.

Quebec City CMA

Atotal of 2,819 sales were completed in the Quebec City CMA during the second quarter of 2025, a 9 per cent increase compared to the same period last year, and 29 per cent above the historical average—the highest for a second quarter since 2000.
During the year’s second quarter, active listings dropped to 1,818, down 27 per cent compared to the same period in 2024, a 25-year record low. The number of properties for sale plummeted by 26 per cent for single-family homes, 35 per cent for condominiums, and 21 per cent for plexes. The number of months required to sell the inventory, all categories combined, not only fell to 2.4 months, but hit its lowest level for a second quarter since 2000.
Median prices across all three market segments also rose substantially compared to the same period last year, with respective increases of 18 per cent, 15 per cent, and 14 per cent for single-family homes ($450,000), condominiums ($312,000), and plexes ($509,000). The second quarter of 2025 was notable for the fact that median prices for plexes and single-family homes are now twice as high as the historical average for this time of the year.

Gatineau CMA

The Gatineau CMA posted 1,551 transactions in the 2025 second quarter, a 10 per cent jump compared to the same quarter in 2024, and similar to the 2022 second quarter. This increase for this time of year is similar to the previous year. Transactional activity exceeded the second-quarter historical average by 13 per cent.
Active listings declined by 3 per cent in the Gatineau CMA in the second quarter of 2025 compared to the same period in 2024. This is due to a 1 per cent drop in single-family home listings and a significant 34 per cent drop in plex listings. The supply of properties for sale across all three market segments remains even more limited, with the number of listings ranging from 14 per cent to 36 per cent below the historical average, depending on the property type.
Nevertheless, the number of months required to sell the inventory (all categories combined) dropped to 3.5 months, down 0.4 months compared to the same quarter last year. This remains low compared to the 25-year average for a second quarter of 6.5 months.
The median price for single-family homes reached $511,000 in the second quarter of 2025, a 7 per cent increase over the same period in 2024. For condominiums, the median price edged up by 2 per cent to $324,900. Small income properties posted a median price of $567,000, rising by 9 per cent. The median price for both single-family homes and plexes has more than doubled compared to their respective historical averages for a second quarter.

Sherbrooke CMA

Residential sales totalled 720 transactions in the second quarter of 2025, a 27 per cent jump compared to the same period in 2024. Transactional activity was 35 per cent higher than the 25-year average for this time of year and 27 per cent above the pre-pandemic level of 2019.
Active listings in the Sherbrooke CMA remained virtually unchanged from the second quarter of 2024, due to stable levels for single-family homes (+1 per cent), and a trade-off between the 6 per cent increase in condominiums and the 14 per cent decrease in plexes. The number of months required to sell the inventory (all categories combined) declined slightly to 3.9 months, which is 50 per cent below the second-quarter historical average of 8.3 months.
Between the second quarter of 2024 and that of 2025, median price changes ranged from 8 per cent to 19 per cent across property categories. The single-family home median price reached $467,000, a 13 per cent increase compared to the same period last year. With a median price of $327,750, the condominium segment saw a 19 per cent jump. Small income properties recorded a median price of $505,000, representing an 8 per cent gain. Market pressure remained high, as median prices in all residential property categories have more than doubled compared to the pre-pandemic second quarter of 2019.

Trois-Rivières CMA

Transactions in the Trois-Rivières CMA remained stable in the 2025 second quarter compared to the same period in 2024, reaching 404 sales, an historically high number for this time of year.
Active listings declined slightly by 3 per cent compared to the same quarter last year. Nonetheless, single-family home listings grew by 10 per cent, in contrast to a 19 per cent drop for condominiums and a sharp 30 per cent decrease for plexes. The number of months required to sell the inventory (all categories combined) edged down to 2.5 months. This is 4.4 months below the historical average for this time of year.
The median price for single-family homes rose by 13 per cent in the second quarter of 2025 compared to 2024, reaching $380,000, while that of condominiums increased by 15 per cent to $302,000. Finally, the small income property median price jumped to $402,250, up by 20 per cent jump and one of the strongest second-quarter increases observed since 2000.

Saguenay CMA

There were 467 residential sales in the Saguenay CMA in the second quarter of 2025, a 16 per cent increase compared to the same period in 2024. This level of activity is slightly above the 25-year average for a second quarter, with a modest difference of 22 additional sales.
Active listings fell by 19 per cent compared to the second quarter of 2024, due to declines across all three market segments. The number of months required to sell the inventory dropped from 4.4 months to 3.3 months between the second quarters of 2024 and 2025 (all categories combined).
The median price for single-family homes rose by 18 per cent to $342,000 in the second quarter of 2025. Plexes posted a 32 per cent increase, bringing the median price to $342,000.

Drummondville CMA

Residential sales in the Drummondville CMA totalled 303 transactions in the second quarter of 2025, a 17 per cent jump compared to the same period a year earlier. This marks the highest level of transactional activity for this time of year, since data for this CMA first began being compiled in 2007.
Active listings declined in the second quarter compared to the same quarter last year, dropping by 15 per cent to 299 properties for sale. This decrease follows three consecutive years of significant increases from 2022 to 2024 for this period of the year. The decline is mainly due to a drop in single-family home listings (-51) and, to a lesser extent, plexes (-5), while condominiums (+1) remained stable. The number of months required to sell the inventory, all categories combined, fell sharply to 3.9 months.
The median price of single-family homes in the Drummondville CMA reached $399,000 in the second quarter of 2025, reflecting a 14 per cent increase compared to the same period in 2024.

Second Quarter 2025 Data

Please consult the Barometer – Residential Market to view Q2 2025 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 offices in Saguenay and Rouyn-Noranda. 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, X and Instagram.

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

Image bank (credit QPAREB) available free of charge.

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