Market recovery grounded in affordability and condo demand
The residential real estate market in the Quebec City Census Metropolitan Area (CMA) showed renewed momentum in August 2026, according to new figures from the Quebec Professional Association of Real Estate Brokers (QPAREB). A total of 677 properties changed hands during the month — the second-best August performance in 25 years and a 6 per cent increase from August 2025.
The rebound has not been uniform across property types or neighbourhoods. Condominium sales led the recovery with a striking 32 per cent rise year over year, while single-family home transactions increased modestly by 1 per cent and plex sales fell by 17 per cent. Overall transactional activity remains above the 10-year average, reflecting a market that has stabilised after earlier volatility.
Where buyers are looking and why
Geography mattered in August. The South Shore stood out with sales up 21 per cent, while the Agglomeration of Quebec City posted a 9 per cent increase. By contrast, the Northern Periphery saw sales decline by 26 per cent. The pattern points to affordability as a key driver of buyer behaviour across the CMA.
| Area | Median single-family price (Aug 2026) | Sales change (year over year) |
|---|---|---|
| South Shore | $425,000 | +21% |
| Agglomeration of Quebec City | $460,000 | +9% |
| Northern Periphery | $560,000 | -26% |
In plain terms, buyers appear to be shifting activity toward less expensive neighbourhoods. That migration helped push the CMA’s median price for single-family homes down slightly by 2 per cent year over year.
Condo and plex prices buck the trend
Although the median for single-family homes edged down, apartments and small multi-unit properties moved higher. Median condominium prices increased by 8 per cent and plex prices rose by 10 per cent compared with August 2025. Those gains reflect the concentration of condo and plex transactions inside Quebec City proper, where prices have not been softened by sales shifting to more affordable outskirts.
"The rebound in available supply has gained momentum since the spring,"
Active listings in the CMA are on the rise, a development that has helped recalibrate expectations between buyers and sellers. While the number of transactions is elevated relative to the decade average, the growing supply has tempered upward pressure on prices in some segments.
What this means for local buyers and sellers
- Sellers in pricier areas of the Northern Periphery may need to adjust expectations, as sales there have slowed and buyers are favouring lower-priced neighbourhoods.
- Buyers seeking value are increasingly active on the South Shore, where the median single-family price remains lower than in central Quebec City or the Northern Periphery.
- Condo investors or first-time buyers should note that apartment prices and plex values rose, indicating stronger competition for these property classes within the city.
For Quebec City residents, the August figures signal a market in transition. Rising inventory should give buyers more choices than earlier in the year, yet demand remains durable in specific segments, particularly condominiums. Sellers who ignore shifting buyer preferences — notably the tilt toward affordability — risk longer time on market or having to reduce their price expectations.
As autumn approaches, local brokers will be watching whether the current balance between supply and demand holds, or whether mortgage-rate changes and broader economic signals shift the market again. For now, the August data suggest a pragmatic market: more transactions, but a more discerning buyer, and a premium on affordability within the Quebec City CMA.
