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Quebec  + Apartments  | 
Photo of Quebec City condominium building.

Quebec City Median Condo Price Soars 12.7%

Quebec City condo prices spiked during the second quarter, according to a new Royal LePage report.

The median condo price soared 12.7% year-over-year to $290,200. That increase exceeded Quebec City year-over-year aggregate increase of 10.4%, which led all Canadian major markets.

“The Quebec City real estate market is still very buoyant, stimulated by a low number of properties for sale, strong demand and affordable home values compared to many other markets in Quebec and Canada,” said Michèle Fournier, vice-president and chartered real estate broker for Royal LePage Inter-Quebec.

Quebec City’s median condo price rise surpassed the 9.7% year-over-year increase in the price of a detached single-family home.

“Unlike other markets in the province, multiple-offer scenarios are still the order of the day, when the price is justified and the property is well-presented,” said Fournier. “With the downward trend in interest rates, we find ourselves in the midst of a perfect storm for real estate price growth.”

Royal LePage is forecasting that the aggregate price of a Quebec City home will rise climb 9.5% in the fourth quarter of 2024.

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Inside The Story

Michèle FournieRoyal LePage Inter-Quebec

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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