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The market is rising — find out what your property is worth in 2026
Get my valuation →The first quarter of 2026 confirms the recovery of Quebec’s residential real estate market. According to QPAREB (Quebec Professional Association of Real Estate Brokers) data released in March 2026, transaction volume jumped 11% compared to Q1 2025, while the provincial median price now stands at $425,000. This momentum is supported by the Bank of Canada’s continued rate reductions, now at 2.75%, which have significantly improved affordability for buyers. Here is our detailed analysis.
📊 1. Q1 2026 Transaction Volume: 28,400 Sales (+11%)
Quebec recorded 28,400 residential transactions during the first quarter of 2026, compared to 25,585 in Q1 2025. This 11% increase represents the most active quarter since Q1 2022, when rates were still at historic lows. March alone totalled 11,200 sales, a 14% increase over March 2025.
Several factors explain this renewed activity. First, the succession of policy rate cuts since June 2024 has brought 5-year fixed mortgage rates down to around 3.89%–4.29%, compared to 5.50% a year earlier. Second, pent-up demand from 2023–2024, when many buyers had postponed their plans, is finally materializing. Third, sustained population growth driven by immigration continues to fuel demand, particularly in the Greater Montreal area.
28,400
Q1 2026 transactions
+11%
vs Q1 2025
11,200
March sales alone
💡 Calculation: Q1 2026 vs Q1 2025 change = (28,400 – 25,585) / 25,585 × 100 = +11.0%
🗺️ 2. Median Prices by Region — Q1 2026
Regional disparities remain significant. Montreal leads with a median price of $560,000, while Sherbrooke remains the most affordable major city at $365,000. The suburbs of Laval and Longueuil continue their catch-up trend toward Montreal pricing.
| Region | Q1 2026 Median | Q1 2025 Median | Change |
|---|---|---|---|
| Montreal | $560,000 | $520,000 | +7.7% |
| Quebec City | $380,000 | $358,000 | +6.1% |
| Gatineau | $420,000 | $385,000 | +9.1% |
| Sherbrooke | $365,000 | $345,000 | +5.8% |
| Laval | $530,000 | $490,000 | +8.2% |
| Longueuil | $490,000 | $460,000 | +6.5% |
| Laurentians | $445,000 | $418,000 | +6.5% |
| Lanaudière | $410,000 | $388,000 | +5.7% |
Gatineau shows the strongest increase (+9.1%), driven by its proximity to Ottawa and federal workers seeking lower prices on the Quebec side. Laval follows at +8.2%, benefiting from the spillover effect of Montreal where prices now exceed half a million dollars. Lanaudière and Sherbrooke remain the most affordable markets, attracting families and remote workers who prioritize space over urban proximity.
⚠️ Provincial median: Across all regions, the median price stands at $425,000, up 6% from Q1 2025 ($400,750).
🏠 3. Segments: Single-Family vs Condo vs Plex
The three main residential segments are not evolving at the same pace. Single-family homes remain the most in-demand segment with 58% of all transactions. Condos account for 30% of volume, while plexes represent 12% but show the strongest price appreciation.
$450,000
Single-family (+5%)
58% of sales
$365,000
Condo (+4%)
30% of sales
$680,000
Plex (+8%)
12% of sales
The plex segment continues to show the strongest growth, fuelled by investors attracted by rising rental yields. Condos are seeing renewed interest from first-time buyers who are leveraging the FHSA (First Home Savings Account) and lower rates to enter the market. The sales-to-new-listings ratio is 68% for single-family homes (seller’s market), 52% for condos (balanced market), and 75% for plexes (strong seller’s market).
💰 4. Impact of the BoC 2.75% Policy Rate
The Bank of Canada lowered its policy rate to 2.75% in March 2026, continuing the easing cycle that began in June 2024 when the rate stood at 5.00%. This cumulative 225 basis point reduction has a direct and measurable impact on Quebec’s real estate market.
In practical terms, a buyer borrowing $400,000 over 25 years sees their monthly payment drop from $2,468 (at a 5.50% fixed rate in 2025) to approximately $2,102 (at 3.89% in 2026), a savings of $366 per month or $4,392 per year. This affordability improvement is the primary driver behind the transaction recovery.
5.50%
5-yr fixed — Q1 2025
Payment: $2,468/mo
3.89%
5-yr fixed — Q1 2026
Payment: $2,102/mo
Variable rates, tied to the prime rate (prime – 0.75%), sit around 4.20%, making them competitive but still slightly above the best fixed rates. The majority of buyers (72%) are opting for a 5-year fixed rate, according to data from major Canadian banks. The rate drop effect is also being felt on mortgage renewals, where homeowners renewing a loan taken out in 2021 at 1.80% still face an increase, but a much smaller one than anticipated a year ago.
🔮 5. Summer 2026 Outlook
The outlook for summer 2026 is generally positive for Quebec’s real estate market. Here are the key elements to watch in the coming months, according to QPAREB analysts and major financial institutions.
1. 📉 Policy rate — The BoC may lower its rate to 2.50% by June, further stimulating demand
2. 📈 Annual volume — QPAREB forecasts approximately 95,000 transactions for all of 2026, a return to pre-pandemic levels
3. 🏠 Prices — Growth of 4–6% expected for the year, with a possible slowdown in the fall
4. ⚠️ Risk — Canada–U.S. trade tensions and economic uncertainty could dampen consumer confidence
The traditional spring season, the busiest time of year, should maintain the pace observed in March. Listings are also increasing (+8% in Q1 2026), offering more choice to buyers even though the market generally remains seller-friendly. Regions like Lanaudière and the Laurentians could see the strongest summer activity, driven by Montreal buyers looking for space at competitive prices.
❓ Frequently Asked Questions
How many real estate transactions took place in Quebec in Q1 2026?
Q1 2026 recorded 28,400 residential transactions, up 11% from Q1 2025. March alone totalled 11,200 sales, the most active month since March 2022.
What is the provincial median price in spring 2026?
The all-category median price is $425,000, up 6% year-over-year. Single-family homes reach $450,000, condos $365,000, and plexes $680,000.
Which regions are the most dynamic?
Gatineau (+9.1%) and Laval (+8.2%) show the strongest price increases. Montreal remains the most active market by volume with a $560,000 median price.
Is it a buyer’s or seller’s market?
The market leans toward sellers with a 62% sales-to-listings ratio provincially. Plexes are in a strong seller’s market (75%), while condos remain more balanced (52%).
What is the forecast for summer 2026?
Prices are expected to grow 4–6% and annual volume could reach 95,000 units. A policy rate of 2.50% is anticipated by June 2026.
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Source: QPAREB — Residential Market Barometer, March 2026. Data sourced from the Centris® system of Quebec real estate brokers.