Much was said about Quebec City's sales peak in May 2026. But a second number deserves attention: active listings climbed 20%. In other words, supply is rebuilding fast, in a region still favourable to sellers. For the sales-side picture, see our Quebec City sales-peak analysis. Here, we look at supply — and what it signals.
1. The Quiet Number: +20% Listings
Behind the record 964 sales, the Quebec City CMA's active listings rose 20%year over year — a markedly faster increase than at the provincial level. Available supply, long scarce in the Capitale-Nationale, is rebuilding: more properties come to market, so more choice for buyers.
2. A Market That Stays Seller's
This rise in supply did not flip the balance of power. In May 2026, the Quebec City CMA stayed firmly seller's: sales up (+5%), plexes surging (+15%) and record median prices (plex $575,000, single-family $470,000, condominium $330,000). Supply is rising, but demand still follows it: the market absorbs new listings without turning.
3. What +20% Supply Foreshadows
Supply rising twice as fast as sales is a signal to watch. If the trend continues, it gradually returns negotiating power to buyers: more comparables, fewer bidding wars, selling times that could lengthen. It is not a shift already achieved — the market stays seller's today — but it is the kind of move that precedes a rebalancing.
4. The Typical Lag: Supply First, Balance Later
Markets do not switch regimes overnight. Generally, rising supply precedes a slowdown in demand: owners put properties back on the market while buyers are still active, then, if supply keeps swelling, the balance of power shifts slowly. In Quebec City, we are at the very start of that scenario: supply moved first, demand still holds. Watching the coming months of listings will tell whether the move sticks.
5. What It Means in Quebec City Now
For the buyer: choice is widening, but the market stays tight; getting pre-approved and tracking supply lets you be ready without betting on an uncertain easing. For the seller: the balance is still favourable, but with more competition ahead, a fair price from the start remains the best way to seize the current window. Either way, the indicator to keep an eye on is supply.