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Quebec City condominium transactions increased 13% in April.

Quebec City Condo Prices Rise 11%

Quebec City condominium prices rose 11% year-over-year in the first quarter as part of a province-wide increase.

The median price of $259,900 reflected a sustained 11% increase posted in the previous quarter, the Quebec Professional Association of Real Estate Brokers (QPAREB) reported.

The provincial capital’s median-price increase was well above Montreal’s 4% and the province-wide 5% boost.

The Quebec City median-price rises came after the region’s condo listings decreased 11% year-over-year.

Quebec City-area overall residential sales transactions climbed 21%, to 2,5999, from the same period in 2023. That jump exceeded the 17% provincial rise in transactions.

The provincial double-digit sales gain was Quebec’s first since 2021, a span of 10 quarters.

Charles Brant, QPAREB’s market analysis director attributed the rise to lower inflation, the Bank of Canada’s softer stance on interest-rate cuts and homebuyers’ desire to take action in case the market overheats.

Photo: Destination Canada


Inside The Story

QPAREBCharles Brant

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

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