Quebec City’s median condominium price soared 13% in 2024, says the Quebec Professional Association of Real Estate Boards.

QPAREB reported that Quebec City’s median condo price rose to $270,000 from 2023. The increase marked the highest annual gain among all residential property types in the region, reflecting strong demand.

The region posted 9,835 residential sales in 2024, an increase of 19% compared to 2023. The sales activity is well above the historical average, indicating a strong recovery in the housing market, according to QPAREB.

Despite the surge in sales, the region’s active listings fell 15% to 2,436, tightening market conditions in favour of sellers. The number of months required to sell the available inventory declined to just three months, further emphasizing the high demand for properties.

Beyond condominiums, other property categories also experienced notable price increases. The median price for single-family homes climbed 10% year-over-year to $385,000, while small income properties’ median price saw a 13% increase from 2023, reaching $440,000.

Across Quebec, residential sales totalled 90,369 in 2024, marking a 19% increase—or 14,460 more transactions—compared to the previous year. As a result, activity levels returned to those seen in 2018 and 2019, prior to the pandemic-driven market fluctuations.

“The resale real estate market experienced a rebound in 2024, primarily due to repeat buyers who had been waiting for a decline in interest rates,” said Charles Brant, director of market analysis at QPAREB. “In the latter half of the year, first-time buyers took advantage of lower rates and increased listings to further drive sales growth.”

The provincial median condo price 5% compared to $378,000Province-wide, while the median price of single-family homes across Quebec rose 8% to $450,000, while condominium prices. Small income properties saw the largest median-price growth across the province, climbing 12% to $585,000.

As market conditions remain favourable for sellers, QPAREB expects the overall provincial market to maintain its momentum, particularly if interest rates continue to ease.

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