Quebec City CMA: Sellers Adjust Expectations to Market Realities

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Postmedia has not reviewed the content. by GlobeNewswire Quebec City CMA: Sellers Adjust Expectations to Market RealitiesAuthor of the article:QUEBEC CITY, Sept. 04, 2026 (GLOBE NEWSWIRE) — The Quebec Professional Association of Real Estate Brokers (QPAREB) has just released its residential real estate market statistics for the month of August 2026. The most recent market statistics for the Quebec City Census Metropolitan Area (CMA) are based on the real estate brokers’ Centris provincial database.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountIn August 2026, 677 residential properties were sold in the Quebec City CMA, the second-best performance in 25 years, behind August 2021. This represents a 6 per cent increase from a year earlier.The August rebound was driven by strong condominium sales (+32 per cent), compared with single-family homes (+1 per cent) and plexes (-17 per cent).Despite its see-saw movement, the number of transactions across property categories has remained stable since early 2026 compared with the same period last year. Transactional activity nevertheless remained well above the 10-year average.By geographic area, the South Shore of Quebec City again stood out in August, with sales up 21 per cent. The Agglomeration of Quebec City posted a 9 per cent increase, while the Northern Periphery recorded a 26 per cent decline.The South Shore’s stronger sales growth is largely explained by its greater affordability compared with other areas of the Quebec City CMA. The median price of a single-family home on the South Shore reached $425,000 in August 2026, well below that of $460,000 in the Agglomeration of Quebec City and $560,000 in the Northern Periphery.The slight decline in the median price of single-family homes (-2 per cent) in the CMA reflects a shift in activity toward more affordable areas. Sales rose sharply on the South Shore, where price levels are generally lower, but declined in the Northern Periphery, the most expensive area.For condominiums and plexes, median prices in August increased by 8 per cent and 10 per cent, respectively, from one year earlier. As sales in these two categories are concentrated in Quebec City, prices are not being driven down by other, more affordable areas.The rebound in available supply has gained momentum since the spring. Active listings rose 27 per cent year over year in August, supported by a 51 per cent increase in condominium listings. Listings for single-family homes and plexes increased by about 20 per cent last month.Despite a larger pool of available properties, selling times remain very short, averaging about one month in each of the three market segments.Market dynamics in the Quebec City CMA have shifted considerably since the spring. Overbidding has gradually eased, accounting for 17 per cent of transactions in August compared with half of transactions in the spring.Another notable shift has emerged: downward price revisions are becoming more frequent within shorter timeframes.Although the Quebec City market remains largely in sellers’ territory, with sustained activity, the positioning of asking prices has been evolving more noticeably in recent months. Among condominiums and single-family homes sold this summer, one in four transactions was completed after at least one price revision, compared with one in five a year ago.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againThe first adjustment to the asking price after listing averages -3 per cent for condominiums and -4 per cent for single-family homes. For example, a condominium initially listed at $345,000 would typically see a downward revision of close to $10,000.“Sellers are now adjusting their asking prices downward more quickly when necessary. The average time before a first price revision is 41 days for condominiums and 35 days for single-family homes. This illustrates sellers’ ability to adapt their strategy to market signals,” notes Hélène Bégin, QPAREB Senior Economist.“In this evolving context, driven mainly by the rebound in available supply, working with a real estate broker can help sellers better position the value of their property on the market. Expectations must now be more moderate, as overheating situations are less prevalent and asking-price adjustments are becoming more frequent,” notes Charles Brant, QPAREB Market Analysis Director.If you would like additional information from the Market Analysis Department, such as specific data or regional details on the real estate market, please write to us.About the Quebec Professional Association of Real Estate BrokersThe Quebec Professional Association of Real Estate Brokers (QPAREB) is a non-profit association that brings together more than 15,000 real estate brokers and agencies. It is responsible for promoting and defending their interests while taking into account the issues facing the profession and the various professional and regional realities of its members. The QPAREB is also an important player in many real estate dossiers, including the implementation of measures that promote homeownership. The Association reports on Quebec’s residential real estate market statistics, provides training, tools and services relating to real estate, and facilitates the collection, dissemination and exchange of information. The QPAREB has its head office in Quebec City, administrative offices in Montreal and a regional office in Saguenay. It has two subsidiaries: Société Centris inc. and the Collège de l’immobilier du Québec. 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