Quebec’s housing market set a record benchmark price in January 2026 at $535,000 — up 7.1% year-over-year — even as sales activity declined 12.4% from a year ago. The provincial average home price was $538,121, up 5.5% annually despite a 2.5% seasonal monthly decline. With 6.6 months of supply, the market is tipping toward buyer’s territory but remains more balanced than Ontario or BC.
Key statistics (January 2026)
| Metric | Value | Month-over-Month | Year-over-Year |
|---|---|---|---|
| Average Home Price | $538,121 | -2.5% | +5.5% |
| Benchmark Price | $535,000 (Record) | +1.0% | +7.1% |
| Total Sales | 5,094 | -13.2% | -12.4% |
| Months of Supply | 6.6 | N/A | N/A |
| Market Condition | Balanced to Buyer’s | N/A | N/A |
Average home prices by city
| City | Average Price | YoY Change |
|---|---|---|
| Montreal CMA | $651,066 | +5.0% |
| Quebec City | $461,034 | +4.8% |
Market conditions
Quebec’s market sits in the balanced to buyer’s range as of January 2026. At 6.6 months of supply, the province has moved above the balanced threshold of 5–6 months but is not as deeply into buyer’s territory as Ontario (6.0 months) or British Columbia (9.8 months).
The record-high benchmark price of $535,000 — up 7.1% year-over-year — indicates sustained demand for the typical Quebec home. The divergence between falling sales (-12.4%) and rising prices reflects a market where supply remains relatively constrained despite softer demand. Sellers are not flooding the market with listings, which has supported prices.
Regional analysis
Montreal remains the dominant market in Quebec, with the Census Metropolitan Area averaging $651,066 — up 5.0% year-over-year. Montreal’s price resilience is supported by strong immigration-driven population growth, a diversified economy anchored by aerospace, technology, and education sectors, and relatively lower prices compared to Toronto and Vancouver.
Quebec City posted an average of $461,034, up 4.8% year-over-year despite a 3.8% monthly seasonal decline. The capital city benefits from a stable government-sector employment base and growing demand from both local buyers and those relocating from more expensive markets.
Both major centres continue to see steady appreciation, though the pace of gains has moderated from the peaks seen in 2021–2022. Smaller markets across the province remain generally affordable relative to the rest of Canada.
Key trends
- Record benchmark price — Quebec’s benchmark of $535,000 is the highest ever recorded, reflecting persistent demand and limited inventory turnover.
- Strong annual appreciation — Despite seasonal monthly declines, prices are up 5.5% (average) and 7.1% (benchmark) year-over-year, among the strongest gains in Canada.
- Montreal as a value proposition — At $651,066, Montreal remains significantly more affordable than Toronto ($948,698) or Vancouver ($1,210,684), attracting interprovincial migration.
- Sales declining but prices holding — The 12.4% drop in sales has not yet translated to meaningful price declines, as sellers have been reluctant to reduce listing prices.
- Quebec City steady — The provincial capital continues to grow at a healthy pace, offering a more affordable alternative to Montreal.
Housing affordability
Quebec is one of the more affordable large provinces, with an average home price of $538,121 in January 2026. To purchase a home at the provincial average with a 20% down payment, a household would need an estimated annual income of approximately $125,000.
In Montreal, the $651,066 average requires roughly $150,000 in household income. Quebec City is more accessible at $461,034, where approximately $110,000 would be sufficient. Both figures are closer to median household incomes than comparable calculations in Ontario or BC.
Use our mortgage affordability calculator to determine how much home you can afford, or our income to afford home calculator to estimate the salary needed at Quebec price levels.
Useful calculators
- Mortgage Calculator
- Mortgage Affordability Calculator
- Income to Afford Home Calculator
- Land Transfer Tax Calculator
- Closing Costs Calculator
- Mortgage Rates
- First-Time Home Buyer Guide
Quebec city housing reports
- Montreal Housing Market — Greater Montreal prices, sales, and market conditions
- Canada Housing Market Overview — National trends and provincial comparisons
Data Sources
The housing market data in this report is sourced from: