Quebec City CMA, October 2026: a 16% Sales Drop Measured Against a Record Month

The headline gets attention: 16% fewer sales in October 2026 in the Quebec City CMA. On its own, it looks like a turning point. Next to its comparison base, it tells a different story: October 2025 was a record month, and October 2026 remains well above the ten-year average. Here is how to read the decline and what actually changes for buyers in the Quebec City area.

October 2026 figures

According to the QPAREB release, based on Centris data:

• Sales: 866 transactions, down 16% year over year, the second monthly decline in a row.
• Against the average: still about 18% above the ten-year average for October.
• Active listings: 2,597, up about 38%, the eighth consecutive monthly increase. The Quebec City agglomeration leads at +56%.
• Median prices: single-family +4%, condos +8%, plexes +3%.
• Average selling times: 23 days for a single-family home, 33 for a condo, 39 for a small income property.

The base effect: a decline measured against a peak

A year-over-year change compares a month with the same month a year earlier. If that reference month was exceptional, the change exaggerates the movement. That is the case here: the QPAREB notes that the decline is partly explained by a record October 2025.

Together, the two measures give the real picture. Against last year, sales are down 16%. Against a decade of Octobers, they are still 18% higher. Quebec City's market is not collapsing: it is coming down from a peak toward a level that remains high.

The same caution applies going forward. If the following months of 2025 were also very strong, yearly declines may persist without activity being weak. The number to watch alongside them is the gap to the ten-year average.

Inventory is rising, from a very low base

The same logic applies to supply. +38% active listings is a strong increase, the eighth in a row. But the QPAREB stresses that supply remains well below its 2016 to 2025 average. After years of shortage, buyers have more choice without the market becoming abundant.

We flagged the same movement in September in our article on Quebec City listings up 35%; October confirms the trend.

Prices are still climbing

Despite fewer sales, no median price fell: +8% for condos, +4% for single-family homes, +3% for plexes. With selling times of 23 to 39 days, Quebec City remains a fast market, much faster than Montreal, where a single-family home takes 36 days and a condo 56.

What it means for Quebec City buyers

• A little more choice: inventory is growing fast, especially in the agglomeration, which leaves more homes to compare.
• Don't wait for price cuts: median prices are still rising. An offer far below asking has little chance on a well-priced property.
• Still short selling times: 23 days on average for a single-family home. A pre-approval and a planned inspection remain the norm to be ready.
• Read changes with their base: a headline about a 16% drop does not mean the market is crashing.