Quebec’s housing market on the path to stabilization
A balanced market, driven by buyers’ restraint and financial discipline
Second quarter highlights:
- In the second quarter of 2026, the aggregate price of a home in Greater Montreal rose 4.9% year over year to $650,500.
- Quebec City’s record performance begins to cool; region posts quarter-over-quarter price decline for the first time in more than three years.
- For the summer period, Royal LePage® anticipates further stabilization and a slower pace, with buyers favouring turnkey properties while exercising great caution as fall approaches.
MONTREAL, Quebec, July 14, 2026 – According to the latest results of the Royal LePage House Price Survey and Market Forecast released today, Quebec’s housing market ended the second quarter of 2026 with contrasting trends across regions, ranging from sustained strength to clear signs of a slowdown. Although aggregate home prices continue to show positive year-over-year growth across all major centres, quarterly figures reveal a loss of momentum in certain regions. This trend is marked by slight declines in property values in areas on the outskirts of Greater Montreal, signalling the return to traditional seasonal cycles and a decrease in the overheating that characterized recent years.
“The second quarter of 2026 confirms the start of a gradual stabilization of the real estate market in Quebec,” said Dominic St-Pierre, executive vice president of business development, Royal LePage. “Although demand has ensured prices continue to rise on a year-over-year basis, buyers’ financial caution is quietly ushering in a transition towards balanced conditions. This is particularly evident in the Quebec City market, which had previously posted price gains every quarter over the past several years.”
The aggregate price[1] of a property in the province of Quebec increased 3.8% in the second quarter of 2026 to reach $487,500 compared to the same period the previous year. On a quarterly basis, the aggregate price in the province recorded an increase of 2.9%. When broken out by housing type, the median price of a single-family detached home in Quebec climbed 3.7% year over year to $524,900, while that of a standard condominium recorded an increase of 2.2% to reach $407,700 during the same period.
“This stabilization of the market is prompting buyers to replace a sense of urgency with a calculated decision-making process. Consequently, during the second quarter, we observed a decline in multiple-offer scenarios, as well as an increase in the number of withdrawals following inspections. Taking a cautious approach, buyers are steering clear of impulse purchases and focusing on turnkey properties, preferring to pay a premium rather than face the unpredictability and cost of major renovations,” added St-Pierre.
Nationally, the aggregate price of a property decreased 1.4% year over year in the second quarter of 2026, settling at $814,900. In the country’s major markets, the aggregate price in the greater regions of Toronto and Vancouver recorded decreases of 4.6% and 4.5% respectively, yet showed signs of stabilization on a quarterly basis.
Outlook for the 2026 summer market
Looking ahead to the summer market, Royal LePage anticipates activity will continue to stabilize overall. The market is expected to slow down somewhat, providing a much-needed respite following the frenzied pace of recent years. Prices will generally hold steady or rise moderately, although slight downward corrections are anticipated in the short term for the Montreal condominium market.
“The approaching fall market, however, calls for vigilance. At a local level, the upcoming provincial elections and budget cuts in the civil service have prompted a prudent revision of the Quebec City growth forecasts for the end of 2026. Despite these factors, the scarcity of supply will continue to firmly preserve home values in Quebec.”
Royal LePage forecasts that the aggregate price of a property in the province of Quebec will increase 7.0% in the fourth quarter of 2026, compared to the same quarter of the previous year.
For the full Royal LePage House Price Survey Quebec Price Composite and 2026 Quebec Price Forecast, click here.
Download the Q2 2026 Quebec House Price Survey Chart: rlp.ca/house-prices-Q2-2026-QC
Download the Royal LePage 2026 Quebec Forecast Chart: rlp.ca/market-forecast-Q2-2026-QC
REGIONAL SUMMARIES
Greater Montreal Area
Prices are rising, but the divide widens between trends on the island and the mainland
The aggregate price of a home in the Greater Montreal Area increased 4.9% year over year to $650,500 in the second quarter of 2026. On a quarterly basis, the aggregate price of a home in the region increased modestly by 0.7%.
Broken out by housing type, the median price of a single-family detached home increased 5.7% year over year to $760,800 in the second quarter of 2026, while the median price of a condominium rose 3.2% to $495,800 during the same period.
According to Marc Lefrançois, chartered real estate broker, Royal LePage Tendance, the market is characterized by a clear divide between the vibrancy of the suburbs and the complexity of the Island of Montreal. “Activity remains very strong on the South Shore and North Shore despite the odd localized slowdown. Thanks to a lack of inventory, these areas clearly favour sellers,” he observed. On the other hand, Montreal is still feeling the effects of urban exodus. “Even though the migration due to remote working has ceased, households that have settled on the outskirts are not returning,” said Lefrançois. “Only the luxury property market is revitalizing activity in the city, thanks to a clear return of consumer confidence and liquidity in Westmount, Outremont and Mont-Royal.”
Sales figures show that the single-family home market in Montreal has demonstrated remarkable resilience in the face of an overall increase in supply. “Historically, the Montreal market has had very few properties available. However, rising interest rates led to a gradual increase in available inventory last year, an upward trend that accelerated sharply in late spring and early summer,” noted Lefrançois. Despite this gradual build-up in housing stock, demand remains strong and the number of buyers continues to outstrip supply, maintaining upward pressure on prices. By contrast, the condominium market is facing major challenges and a historic glut of units.
“Since the pandemic, the number of condo units for sale has been rising steadily, reaching a critical high on the island, whilst the volume of transactions has stagnated, causing the absorption rate to fall well below the threshold for market balance,” he added. However, the situation varies considerably from one neighbourhood to another: “The Ville-Marie area, due to a surplus of unsold new build projects, as well as Île-des-Sœurs and Griffintown, are experiencing significant oversupply, while more sought-after areas such as Villeray, Verdun and Le Plateau are showing greater resilience, although signs of a slowdown are also beginning to be felt there.”
In Montreal Centre, the aggregate price of a home increased 3.5% year over year to $808,500 in the second quarter of 2026. During the same period, the median price of a single-family detached home increased 5.1% to $1,245,400, while the median price of a condominium rose 2.1% to $596,300.
Regarding economic and political factors, the outlook for the end of the year calls for caution, as the stability expected during the summer could give way to a climate of uncertainty in the fall. “On the political front, the upcoming provincial elections raise the possibility of a minority government and a surge in support for the Parti Québécois, which could reignite traditional tensions between federalists and sovereigntists and impact the business climate, particularly within the English-speaking community,” said Lefrançois. “Added to this local uncertainty are international risk factors, including economic instability due to free-trade negotiations with the United States, which are likely to dampen buyer enthusiasm and slow down the market overall.”
Royal LePage is forecasting that the aggregate price of a home in the Greater Montreal Area will increase 5.0 per cent in the fourth quarter of 2026, compared to the same quarter last year.
For the full Royal LePage House Price Survey Quebec Price Composite and 2026 Quebec Price Forecast, clickhere.
Download the Q2 2026 Quebec House Price Survey Chart:rlp.ca/house-prices-Q2-2026-QC
Download the Royal LePage 2026 Quebec Forecast Chart:rlp.ca/market-forecast-Q2-2026-QC
Quebec City
First quarterly decline in aggregate price in more than three years
The aggregate price of a home in Quebec City increased 6.1% year over year to $465,800 in the second quarter of 2026. On a quarterly basis, however, the aggregate price of a home in the region decreased 2.0%. This is the first quarter in more than three years that the region has recorded a drop in the aggregate price.
Broken out by housing type, the median price of a single-family detached home increased 6.3% year over year to $497,800 in the second quarter of 2026, while the median price of a condominium rose 4.6% to $343,400 during the same period.
According to Michèle Fournier, vice-president and real estate broker, Royal LePage Inter-Québec, the second quarter of 2026 saw a slowdown compared to initial expectations. “The market has eased considerably and we are seeing far fewer multiple offers than before, although buyers remain present and active. The trend is one of caution: many buyers are now refusing to get involved in bidding wars and prefer to wait, while others are submitting aggressive, short-notice offers to avoid competition,” she noted. “In short, we saw an overall lull, followed by a very modest recovery in late spring, without any notable spike in activity.”
Sales activity and price trends reflect this slowdown, while inventory levels remain low across the region. “This scarcity of available supply is maintaining slight upward pressure on property values, but price growth has slowed considerably compared to previous quarters,” noted Fournier. This lull is mainly due to a material shift in buyer sentiment, as they have become much more cautious. “Economic uncertainty is now a factor, prompting households to exercise caution and ruling out impulse purchases. The decline in multiple offers is direct evidence of this, with the exception of particularly attractive properties listed below market price,” she added. Furthermore, a more abundant supply of rental properties is helping to reduce the sense of urgency among tenants looking to buy their first home.
For the summer market, Fournier anticipates a quiet period, where a slight dip in activity cannot be ruled out. “The elections at the end of the summer are likely to put the market on hold, as election periods fuel buyers’ uncertainty when it comes to financial decisions,” she explained. In light of this economic instability and job cuts in the civil service – a key sector in the region – price growth forecasts for the end of the year have been revised downward to more accurately reflect the new reality of the local property market in Quebec City.
Royal LePage is forecasting that the aggregate price of a home in Quebec City will increase 8.0 per cent in the fourth quarter of 2026, compared to the same quarter last year.
For the full Royal LePage House Price Survey Quebec Price Composite and 2026 Quebec Price Forecast, clickhere.
Download the Q2 2026 Quebec House Price Survey Chart:rlp.ca/house-prices-Q2-2026-QC
Download the Royal LePage 2026 Quebec Forecast Chart:rlp.ca/market-forecast-Q2-2026-QC
Gatineau
A sluggish market amid an abundance of supply and cautious buyers
The aggregate price of a home in Gatineau increased 2.4% year over year to $476,500 in the second quarter of 2026. On a quarterly basis, the aggregate price of a home in the region increased 3.3%.
Broken out by housing type, the median price of a single-family detached home increased 2.8% year over year to $599,300 in the second quarter of 2026, while the median price of a condominium decreased 4.7% to $318,900 during the same period.
Karine Séguin, certified real estate broker, Royal LePage Vallée de l’Outaouais, noted a general sense of caution in the market during the second quarter, with buyers looking to protect themselves. According to Séguin, “the market is bearing the full brunt of an economic recession, fuelled by uncertainty over employment and stagnant interest rates. Faced with the current situation, consumers are exercising great caution, taking their time before committing and avoiding financial risks.” This reluctance is exacerbated by particularly difficult access to credit, which is holding back many transactions.
For the summer period, Séguin anticipates a quiet quarter, continuing along the current trajectory. Activity is expected to remain buoyant in terms of viewings, but buyers will be inquiring without necessarily making purchase offers. The market is therefore likely to shift in favour of buyers, characterized by a prevalence of conditional offers and fewer first-time buyers, to the benefit of established homeowners looking to downsize.
Given the high inventory levels, she expects a correction and a slight downward adjustment in prices, with the rate of appreciation in property values set to slow over the summer and the remainder of the year. Finally, she noted that return to office mandates are forcing workers to move closer to urban centres, thereby increasing selling times and increasing the supply of homes in rural areas.
Royal LePage is forecasting that the aggregate price of a home in the Gatineau region will increase 1.5% per cent in the fourth quarter of 2026, compared to the same quarter last year.
For the full Royal LePage House Price Survey Quebec Price Composite and 2026 Quebec Price Forecast, clickhere.
Download the Q2 2026 Quebec House Price Survey Chart:rlp.ca/house-prices-Q2-2026-QC
Download the Royal LePage 2026 Quebec Forecast Chart:rlp.ca/market-forecast-Q2-2026-QC
Sherbrooke
Prices remain resilient despite stabilizing activity levels
The aggregate price of a home in Sherbrooke increased 5.7% year over year to $413,500 in the second quarter of 2026. On a quarterly basis, however, the aggregate price of a home in the region decreased 2.3%. The median price of a single-family detached home increased 5.9% year over year to $461,400.
Jean-François Bérubé, certified real estate broker, Royal LePage Évolution EB, notes a great deal of caution among potential buyers. In his view, “the current situation is driven by a number of factors and is largely due to a decline in consumer confidence. The high cost of living, job insecurity and the constant stream of negative global economic news are causing buyers to be wary and to hold back.” This attitude is reflected in a significant drop in accepted offers and an increase in deal cancellations following the inspection stage.
“We are seeing a significant increase in available inventory, as many listing agreements reach the end of their term and expire. Although the market technically remains a seller’s market for the time being, this ongoing trend suggests we are gradually moving towards a balanced market,” he added. “Despite this rise in supply and the expected increase in days on market, the silver lining lies in the strength of property values. All in all, the Sherbrooke market is proving resilient and remains one of the most affordable cities in Canada.”
Looking ahead to the summer market, Bérubé anticipates a period of stability, during which activity is expected to slow considerably. This slowdown will provide a natural respite following the real estate market boom of recent years. In line with this stabilization, he forecasts a slight lull in price growth over the coming months. However, there is no expectation that prices will decline.
Royal LePage forecasts that the aggregate price of a property in the Sherbrooke region will increase 8.0% in the fourth quarter of 2026, compared to the same quarter last year.
For the full Royal LePage House Price Survey Quebec Price Composite and 2026 Quebec Price Forecast, clickhere.
Download the Q2 2026 Quebec House Price Survey Chart:rlp.ca/house-prices-Q2-2026-QC
Download the Royal LePage 2026 Quebec Forecast Chart:rlp.ca/market-forecast-Q2-2026-QC
Trois-Rivières
Regional market remains resilient, buoyed by the strength of the local economy
The aggregate price of a home in Trois-Rivières increased 4.5% year over year to $401,300 in the second quarter of 2026. On a quarterly basis, the aggregate price of a home in the region increased marginally by 0.3%. The median price of a single-family detached home increased 5.5% year over year to $448,600.
Martin Leblanc, real estate broker, Royal LePage Centre, highlights the strength and stability of the local market in the face of external uncertainties. In his view, “the market benefits greatly from the strength of its employers. Unlike other markets, the region has not experienced any major waves of layoffs, which helps maintain buyer confidence and stabilizes the local economy.” This confidence is helping to speed up transactions and is supporting a steady, gradual rise in prices.
“We are also seeing remarkable resilience in our local economy, despite volatility in the United States and the current global climate. Local businesses are faring very well, holding their own and successfully adapting to changes in the global market, which indirectly supports the real estate sector,” added Leblanc. Consequently, issues such as access to credit or macroeconomic slowdowns are not dampening the enthusiasm of buyers in Trois-Rivières, who are benefiting from a fluid and active market.
For the summer season, Leblanc expects activity to remain steady but moderate. The market is likely to remain vibrant without, however, overheating excessively. In line with current trends, prices are expected to continue increasing moderately over the coming months.
Royal LePage is forecasting that the aggregate price of a home in the Trois-Rivières region will increase 7.5% per cent in the fourth quarter of 2026, compared to the same quarter last year. The previous forecast has been revised downward to reflect current market conditions.
For the full Royal LePage House Price Survey Quebec Price Composite and 2026 Quebec Price Forecast, clickhere.
Download the Q2 2026 Quebec House Price Survey Chart:rlp.ca/house-prices-Q2-2026-QC
Download the Royal LePage 2026 Quebec Forecast Chart:rlp.ca/market-forecast-Q2-2026-QC
About the Royal LePage House Price Survey
The Royal LePage House Price Survey provides information on the most common types of housing, nationally and in 65 of the nation’s largest real estate markets. Housing values in the Royal LePage House Price Survey are based on the Royal LePage Canadian Real Estate Market Composite, produced quarterly through the use of company data in addition to data and analytics from partner company, RPS Real Property Solutions, the trusted source for residential real estate intelligence and analytics in Canada. Additionally, commentary on housing market trends and data on price and forecast values are provided by Royal LePage residential real estate experts, based on their opinions and market knowledge.
About Royal LePage
Serving Canadians since 1913, Royal LePage is the country’s leading provider of services to real estate brokerages, with a network of approximately 20,000 real estate professionals in over 670 locations nationwide. Royal LePage is the only Canadian real estate company to have its own charitable foundation, the Royal LePage® Shelter Foundation™, which has been dedicated to supporting women’s shelters and domestic violence prevention programs for more than 25 years. Royal LePage is a Bridgemarq Real Estate Services® company, a TSX-listed corporation trading under the symbol TSX:BRE. For more information, please visit www.royallepage.ca.
Royal LePage® is a registered trademark of Royal Bank of Canada and is used under licence by Bridgemarq Real Estate Services®.
For further information, please contact:
Appolline Risacher
Burson on behalf of Royal LePage
appolline.risacher@bursonglobal.com
418-559-8930
[1] Royal 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.
