Quebec City CMA, September 2026: Listings Up 35% and Prices Still Rising

You are house hunting around Quebec City and seeing more for-sale signs than in the spring, so you expect prices to soften. The September 2026 figures from the Quebec Professional Association of Real Estate Brokers (QPAREB, or APCIQ in French) say otherwise: active listings jumped 35% in a year, and median prices still rose in all three property types. This article explains why fast-growing supply does not push prices down when it starts from a very low base, and where the first sign of easing actually shows up.

September 2026 in the Quebec City CMA: the numbers

According to QPAREB's monthly statistics, the Quebec City census metropolitan area (CMA) recorded 776 sales in September, down 5% from 814 a year earlier. QPAREB points out that activity remains 23% above the 10-year average.

• Single-family homes: 519 sales (−1%), median price $475,000 (+5%), 32 days to sell (+13 days);
• Condominiums: 192 sales (−13%), median price $335,000 (+6%), 33 days to sell (unchanged);
• Plexes (small multi-unit buildings): 65 sales (−8%), median price $593,000 (+13%), 28 days to sell (−2 days).

Active listings totalled 2,530, up 35%, and new listings for the month reached 1,403, up 21%.

Up 35%, but up from what?

A percentage increase always depends on its starting point. Working back from today's 2,530 listings and the 35% change gives roughly 1,870 active listings in September 2025. Inventory has grown by a few hundred properties in a year, in a region that recorded 776 sales in September.

QPAREB adds that despite this rebound, supply "remains half its historical average". This picks up directly from what we described in July, when Quebec City active listings were up 20% in a market that stayed in sellers' favour. The increase has sped up, but inventory has not yet returned to a normal level for the region.

A rough yardstick: 3.3 months in Quebec City, 7.1 in Montreal

At September's sales pace, the Quebec City CMA's 2,530 listings represent about 3.3 months of sales. The same calculation for the Montreal CMA, with 21,793 listings and 3,082 sales, gives about 7.1 months.

This calculation, listings divided by a single month's sales, is not QPAREB's official measure. It still gives a telling order of magnitude: relative to its sales pace, Quebec City's inventory is less than half of Montreal's. As Journal Métro put it in its coverage, unlike Montreal, where inventory exceeds its historical average, Quebec City remains below that threshold.

Why prices are still climbing

As long as the number of homes for sale stays low relative to the number of buyers, good properties find a buyer quickly and sellers have little reason to cut prices. QPAREB notes that prices remain under pressure despite slower sales.

The figures bear that out: +5% for single-family homes, +6% for condos, +13% for plexes. Rising supply slows, or will slow, the pace of price growth, but it is not enough to push prices down while the market remains tighter than Montreal's.

The first sign of easing: single-family homes

Selling time for a single-family home went from 19 to 32 days in a year. That is the sharpest change of the month, and it is happening in the category that makes up two-thirds of sales. Montreal shows the opposite pattern: single-family selling times barely moved while condos absorbed most of the slowdown. In Quebec City, condos held steady at 33 days.

The longer selling time does not yet come with lower prices. It means single-family buyers are taking more time, viewing more homes and feeling less rushed. As in Montreal, the adjustment starts with selling time before it reaches price, if it ever does.

What it changes for buyers and sellers

For buyers, more choice does not mean lower prices. It means a little more time to compare, get an inspection and include conditions in the promise to purchase (Quebec's term for a written offer), especially on a single-family home. For sellers, a still-tight market is no excuse to skip pricing against recent comparable sales: with 13 more days on average, an overpriced single-family listing will feel it first.

The next monthly figures will show whether longer selling times spread from single-family homes to condos and plexes, and whether inventory keeps closing the gap with its historical average. Those two signals matter more for your negotiation than the headline listings count.