Quebec City Market Shifts as September Inventory Surges Past Sales Volume

Market summary

September 2026 saw 1,403 new listings against 776 sales in the Quebec City CMA. Active listings rose to 2,530, marking a significant increase from prior months.

Central finding

The Quebec City CMA experienced a notable supply increase in September 2026, with active listings rising to 2,530 while sales declined 5% year-over-year, indicating a potential cooling of the previously tight market. Sources: [Quebec City Housing Market: Home Prices and Sales | September 2026]

September Supply Outpaces Demand in Quebec City CMA

In September 2026, the Quebec City CMA recorded 776 home sales, a 5% decrease compared to the same period last year. This decline occurred alongside a sharp rise in new listings, which reached 1,403 units, representing a 20.5% increase year-over-year. The divergence between falling sales and rising listings suggests a shift in market dynamics.

Active listings stood at 2,530 by the end of September, up from 1,879 in the previous month. This substantial jump in available inventory contrasts with earlier reports of tightening markets, where active listings had been declining for consecutive months. The current level of supply provides buyers with more options than they have seen recently. Sources: [Quebec City Housing Market: Home Prices and Sales | September 2026]

The strongest counter-case

Earlier in 2026, such as May and June, sales volumes were higher (964 and 903 respectively) and inventory was lower, suggesting the September surge may be seasonal rather than a structural reversal. Sources: [Quebec City CMA: Sales Reach High in May as Property Supply Rebounds - APCIQ - Site web] [Real estate market: The Montreal CMA continues its gradual slowdown in June, while Quebec City maintains its momentum - APCIQ - Site web]

Next 3 months, January 2027

Prices: flat. 0-2% Why: Current high inventory levels may temper price growth, but strong underlying demand could prevent declines. Buyers: wait. Increased inventory provides negotiating leverage and more selection. Sellers: either way. Pricing must align with market realities to ensure timely sales. Watch: Monthly changes in active listing counts and days on market. Confidence: moderate. Sources: [Quebec City Housing Market: Home Prices and Sales | September 2026]

Next 6 months, April 2027

Prices: rising. 2-4% Why: Seasonal spring activity typically boosts sales, potentially absorbing excess inventory if economic conditions remain stable. Buyers: wait. Spring market may offer competitive pricing as sellers adjust expectations. Sellers: wait. Higher visibility and buyer activity in spring favor sellers. Watch: Year-over-year sales volume trends and interest rate movements. Confidence: low. Sources: [Quebec City Housing Market: Home Prices and Sales | September 2026] [Quebec City CMA: Sales Reach High in May as Property Supply Rebounds - APCIQ - Site web]

Next 12 months, October 2027

Prices: rising. 4-6% Why: Long-term demographic and economic factors support gradual appreciation, though sensitive to macroeconomic shifts. Buyers: either way. Timing depends on individual financial readiness and local inventory availability. Sellers: either way. Sellers should monitor quarterly market reports for optimal listing windows. Watch: Provincial housing policy changes and national interest rate decisions. Confidence: low. Sources: [Quebec City Housing Market: Home Prices and Sales | September 2026] [Booming Real Estate Market in Quebec City CMA: Exceptional Sales and Prices in July - APCIQ - Site web]

Assumptions: Economic stability in Quebec City CMA continues through 2027; Interest rates remain within current ranges without significant hikes. What would reverse this: A sudden increase in interest rates or economic downturn could reverse the expected price rise, leading to flat or declining prices. Sources: [Quebec City Housing Market: Home Prices and Sales | September 2026]