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Quebec Housing Market Insights for 2025: A Comprehensive Overview
January 21, 2025 | Posted by: Yelena Markus
A Year of Growth in Quebec’s Real Estate Market
The Quebec housing market demonstrated remarkable resilience and growth throughout 2024, setting the stage for continued activity in 2025. Here’s an in-depth look at key trends, pricing, and market dynamics that shaped the real estate landscape in Quebec.
Key Highlights from December 2024:
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Average Home Price: The overall average selling price of a home in Quebec climbed to $494,300, reflecting a 7.5% year-over-year increase.
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Single-Family Homes: These properties saw an average price of $554,800, representing a 7.7% rise compared to December 2023.
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Townhouses/Multiplexes: Prices for these properties averaged $528,300, increasing by 1.0% year-over-year.
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Condos: The average selling price for condos reached $389,700, a 6.3% increase from the previous year.
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Rental Market: The average monthly rent across Quebec rose by 1.0%, reaching $1,972 in December 2024.
Breakdown by Property Type
Single-Family Homes
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December 2024 Price: $554,800
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Monthly Change: Down 0.5% from November 2024
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Yearly Change: Up 7.7% from December 2023
Townhouses and Multiplexes
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December 2024 Price: $528,300
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Monthly Change: Down 2.8% from November 2024
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Yearly Change: Up 1.0% from December 2023
Condominiums
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December 2024 Price: $389,700
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Monthly Change: Up 0.8% from November 2024
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Yearly Change: Up 6.3% from December 2023
Rental Market Trends
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Overall Rent: $1,972/month (up 1.0% year-over-year)
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Bachelor Apartments: $1,446/month
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One-Bedroom Apartments: $1,690/month
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Two-Bedroom Apartments: $2,179/month
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Three-Bedroom Apartments: $1,690/month (notably up 2.0% year-over-year)
Quebec’s Real Estate Market Performance
Sales and Listings
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December 2024 Sales: 6,748 transactions, marking a 52.3% increase year-over-year despite a 15.2% decline from November 2024.
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New Listings: 5,819 properties were listed, a 9.2% year-over-year increase but down 42.1% compared to the previous month.
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Sales-to-New-Listings Ratio (SNLR): At 116%, Quebec remains firmly a seller’s market.
Regional Performance Highlights
Montreal CMA
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Home Sales: 43,742 (up 20% from 2023)
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Median Prices:
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Single-Family Homes: $578,000 (+7%)
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Condos: $408,000 (+5%)
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Plexes: $770,000 (+7%)
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Quebec City CMA
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Home Sales: 9,835 (up 19% year-over-year)
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Median Prices:
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Single-Family Homes: $385,000 (+10%)
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Condos: $270,000 (+13%)
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Plexes: $440,000 (+13%)
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Gatineau CMA
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Home Sales: 4,584 (up 14% year-over-year)
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Median Prices:
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Single-Family Homes: $465,000 (+6%)
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Condos: $310,000 (+3%)
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Plexes: $537,080 (+9%)
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Annual Trends and Market Insights
Rising Prices and Strong Demand
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Single-Family Homes: Median price increased by 8% to $450,000.
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Condos: Median price rose by 5%, reaching $378,000.
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Plexes (2-5 units): Recorded a significant 12% price increase to $585,000.
Active Listings and Inventory Levels
Despite a 14% increase in active listings to 36,230 properties, inventory remains below historical averages, maintaining competitive conditions in the market.
Metropolitan Growth
Regions like Sherbrooke (+26%), Drummondville (+21%), and Montreal (+20%) led the way in sales growth, driven by favorable interest rates and new mortgage policies.
Month-over-Month and Yearly Market Outlook
The Quebec housing market closed 2024 with robust activity fueled by increased buyer confidence and favorable lending conditions. With tight inventory levels and sustained demand, prices are expected to remain on an upward trajectory heading into 2025.
Thinking About Buying or Renting?
Whether you're exploring homeownership or rental options, Yelena Markus provides expert guidance tailored to your real estate goals. Contact us today to navigate the dynamic Quebec housing market with confidence.
