Every week, the economic columnist answers questions about consumer decisions and personal finance.
Today—about the housing market in Quebec.
Question
“We’ve been looking for our first country house in the suburbs of Montreal for several months now. Everyone around us says the market is slowing down and prices are about to crash, like in other parts of Canada. We decided to wait! Are prices in Quebec really falling?”
Karine Dubois
Answer
Karine, the answer can be summed up in three words: it all depends on the address. Quebec’s real estate market has stopped being a single whole—it’s more like a patchwork quilt of different local situations. The latest data from the brokers’ association (APCIQ) for June only confirms this picture.
Montreal: a slowdown, but not a collapse
In the Montreal agglomeration, home sales in June fell by 8%. The condo segment was hit the hardest: apartment transactions dropped by 15%, while the number of newly listed properties rose by 22%. There are more sellers, fewer buyers.
On the Island of Montreal, selling a condo now takes an average of 52 days—almost a week longer than a year ago.
There are also places where prices really are moving down. In Vaudreuil-Soulanges, the median price of a single-family home fell by 3% over the year. Across Quebec, income properties (plexes) are selling on average a bit cheaper than in 2025—by about one percent.
But it’s important not to confuse a slowdown with a decline. The median price of a single-family home across the province is still around $515,000—which is 3% higher than a year ago. Sellers have become more flexible, but they have no reason to panic.
Meanwhile—in Quebec City
The capital region seems not to have read the “slowdown bulletin” at all. In Quebec City, June sales, on the contrary, rose by 12%, and the median price of a single-family home jumped by 6%—to about $475,000.
A house here sells in just 20 days. While buyers in Montreal argue and negotiate, in Quebec City they still have to fight in bidding wars.
What should Karine do?
If you’re looking at a condo in Montreal, the balance of power has shifted against the seller. You can afford to offer below the asking price, calmly insist on inspection and financing-approval conditions—there’s no longer the same line of eager buyers behind the seller.
If it’s a single-family home in the suburbs, you shouldn’t expect a “fairy-tale” fire sale. Supply remains limited, and prices in this segment are holding firm.
And you definitely shouldn’t wait for a repeat of the Toronto scenario with a sharp drop. In Quebec, the market really is slowing down, but it isn’t collapsing.
So the main question today doesn’t sound like: “When will prices finally start falling?”
It’s a different one: “How much longer will you have the chance to negotiate calmly?”.
