Quebec City Home Prices to Jump 12% Amid Broader Canadian Housing Divergence
KR
Knox Reeves
housing inventory shortage · Apr 18, 2026
Source: DojiDoji Data Terminal
Quebec City home prices are set to rise by 12% by January 2026, according to a new forecast from Royal LePage. This projection is based on a strong first quarter in 2026, where aggregate home prices in the city jumped 10.7%, with single-family detached homes hitting $508,500 — a 11.1% increase. The city’s housing market is being driven by low inventory and rising demand.
This growth contrasts sharply with the ongoing slump in Toronto and Vancouver, where prices are expected to fall by 4.5% and 3.5%, respectively. The national average price increase is projected at just 1.0%, dragged down by the two priciest markets. Meanwhile, 10 of 12 major Canadian cities are expected to see average price increases, with Halifax, Winnipeg, and Regina each rising by 4%.
The narrowing price gap between Toronto and other Canadian cities is also evident. In 2022, the difference in aggregate home prices between Toronto and Montreal was $800,000. By the fourth quarter of 2025, it had fallen to $440,000 and dropped further to $375,000 in the first quarter of 2026.
Royal LePage CEO Phil Soper notes that buyers in more affordable Canadian markets are moving forward despite geopolitical tensions, including the U.S.-Iran conflict and U.S. tariff threats. In these regions, buyers are focusing on stable employment and reasonable mortgage rates, bypassing the uncertainty that has stalled activity in Toronto and Vancouver.
Soper said the main challenges in these markets remain inventory shortages and multiple-offer scenarios — issues that have persisted even as global trade tensions have flared.
Buyers in Quebec City and similar markets are acting on the belief that prices are likely to rise again, and they are using that as a signal to enter the market now.
housing inventory shortage
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