Quebec Home Prices And Sales Rise

2024 Quebec Real Estate Market: A Strong Comeback to Pre-Pandemic Levels

The Quebec real estate market experienced a remarkable rebound in 2024, with sales soaring back to pre-pandemic levels. This resurgence, fuelled by lower interest rates and increased buyer confidence, created a dynamic market full of opportunities for both buyers and sellers.

A Year of Growth and Opportunity

Across Quebec, residential sales totaled 90,369 in 2024—a 19% increase compared to 2023. This surge brought transactional activity back to levels seen in 2018-2019. The market saw robust participation from repeat buyers early in the year, followed by first-time homebuyers capitalizing on improved affordability in the fall.

Market Trends: What You Need to Know

• Home Prices on the Rise: The median price of single-family homes reached $450,000 (+8%), while condominiums averaged $378,000 (+5%). Small income properties saw the highest price increase, rising 12% to a median of $585,000.
• Increased Listings, Still a Seller’s Market: Active listings grew by 14%, yet remained below historical averages. Properties continued to sell at a fast pace, with an average of 60 days on the market.
• Hotspots for Buyers and Sellers: Montreal, Quebec City, and Sherbrooke saw some of the strongest sales gains, while suburban and regional markets also performed well. Notably, Salaberry-de-Valleyfield and Lachute saw sales jump by 37%.

What This Means for You

If you are thinking of buying, selling, or investing in real estate, now is a great time to take action. With prices steadily increasing and demand remaining high, understanding the market’s trajectory can help you make informed decisions.