February 2026 brought new records to the province’s housing market—and new worries for those dreaming of owning a home.
Quebec continues to surprise. While economists cautiously talk about the real estate market “cooling,” the numbers tell a very different story: housing prices in the province keep rising without stopping—and there’s no end to this growth in sight.
According to February 2026 data, the average price of a single-family home in Quebec reached $456,542—7% more than a year ago. In Montreal, that figure has even crossed the $615,000 mark. Plexes—two-to-five-unit homes traditionally popular in the province—jumped to $827,500, adding 9% over the year.
Quebec City overtakes Calgary
The momentum in the provincial capital is especially striking. In Quebec City, home prices rose by 12% in February, condominiums by 10%, and plexes by 7%. The figures are so unexpected that even market professionals aren’t hiding their surprise.
“Right now, homes in Quebec City are selling for more than in some areas of Calgary or even Hamilton,” says Stéphane Bruyère, a mortgage broker. The comparison is telling: Calgary and Hamilton have long been among Canada’s most expensive housing markets.
The average price of a single-family home in Quebec City was $435,000 in February. For a city that just a few years ago was considered one of the most affordable in the country, this is the new reality.
Estrie: a condo as an alternative to a chalet
A separate story is unfolding in the administrative region of Estrie, which includes Sherbrooke and surrounding areas. There, the average condominium price rose by 26% over the year—a figure that in other circumstances would look like an alarming signal, but here it has its own explanation.
“It doesn’t really surprise me,” says real estate broker Mélanie Bergeron. “A condo is significantly cheaper than a country chalet and requires far less upkeep. Many city dwellers, especially retirees, buy them as a second home.” Estrie has historically attracted nature lovers and outdoor enthusiasts—and a condominium in this region is becoming an affordable substitute for the traditional country cottage.
Fewer deals, more would-be buyers
You might think rising prices would cool demand. But not in Quebec. Yes, the number of transactions fell in February: single-family home sales dropped by 6% across the province, and by a full 10% in Montreal. The condominium market slipped even more: down 17% overall in the province, down 21% in Montreal.
But the reason for this decline is not that buyers have lost interest. The reason is that there’s simply nothing to buy.
“In the end, every property finds its buyer,” explains Mélanie Bergeron. “There are fewer deals because there’s almost no supply. I’ve seen 46 offers come in on one house. Forty-six! There are still far too many buyers for the number of homes on the market. There’s no talk of prices going down.”
Stéphane Bruyère cites the same reason: “For several years now, fewer single-family homes have been built and more rental condominiums. That’s what keeps pushing prices up.”
Plexes come out ahead
Against the backdrop of an overall sales slowdown, one segment of the market feels confident—plexes. In Montreal, their sales rose by 11%; across the province, by 5%. Over the year: up 11%. Investors, it seems, are keeping their appetite for income-producing property even amid high prices.
A fragile balance
Quebec’s real estate market is entering 2026 in a state that experts cautiously call a “fragile balance.” Prices keep rising. Transaction volume is falling. Supply remains scarce. Demand is excessive.
For those who already own housing, this is good news: their asset is appreciating. For those who only dream of owning a home, the picture is less cheerful. A market where one house draws 46 purchase offers is a market where patience and financial readiness have become the buyer’s main virtues.
Prices in Quebec are no longer what they used to be. And, apparently, they won’t be again.
Reference. Average single-family home price by region (February 2026): Montreal — $615,000, Ottawa–Gatineau — $466,777, Sherbrooke — $470,000, Quebec City — $435,000, Trois-Rivières — $397,000, Saguenay — $337,540.
